big data News

Study Lists 5 Big Data Obstacles and 5 Firms Embracing Analytics

When Professor Raj Venkatesan started teaching marketing analytics at the University of Virginia Darden School of Business more than a decade ago, he had to write his own cases in order to have sufficient course material to teach in the …

Big Data Helping Iowa State Researchers, DOT Manage Traffic Crashes

The traffic data hits the REACTOR lab in continuous streams from across the state – video, traffic volume, speed, backups, weather and more. Iowa State University researchers can call up all that data on the six big screens arranged around …

Trucking Firms Could Improve Safety, Productivity With Big Data

The trucking industry loses billions of dollars and wastes millions of hours each year sitting idle in traffic. Helping drivers avoid congestion would increase productivity and improve safety, says a team of Iowa State University and industry researchers. The team …

Researchers Creating Software to Clean up Big Data

Like a teenager’s bedroom, big data is often messy. Malfunctioning computers, data entry errors and other hard-to-spot problems can skew datasets and mislead people — everyone from data scientists to data hobbyists — trying to draw conclusions from raw data. …

Why Analyzing Unstructured Data Benefits Every Claims Manager

If you’re just catching on to the fact that big data is shaking up the insurance industry in a big way, you’re a bit behind the curve. Across all industries, almost 90 percent of large companies say big data is …

Insurers Can’t Afford to Ignore Big Data

Advanced analytics is a game changer and the biggest risk to insurers is doing nothing with the data they collect. That’s according to Kimberly Holmes, managing director of XL Catlin Group and XL Catlin Leadership Council, who explained the value …

The Future of Claims Careers: Cultivating a Data Mindset

Big data is a topic about which much has been written, although rarely is it explained in specific terms what it means for insurance professionals. Should claims adjusters and investigators be learning complex algorithms and software programming? Or does all …

QIS: Insurance Carriers Face Enhanced Risk in Age of Big Data

California-based Quadrant Information Services, a provider of big data technology for the property/casualty insurance industry, warns that digitization is a two-edged sword: with increased capability comes an increased danger of expensive—and possibly actionable—data security breaches. Breaches of data security are …

Using Predictive Analytics to Reduce Claim Duration and Costs

Insurance claims professionals are pioneers in the use of predictive data analytics. Well before the term “Big Data” was coined, claims examiners were digging into the data within filed claims to unearth kernels of wisdom. These insights illuminated ways to …

Study Finds Property Casualty Insurers Pressured to Innovate

Property/casualty insurers are facing an erosion of barriers to entry in their markets, as risk data becomes more widely available, and as new capital sources disrupt traditional insurers, according to a new study by Conning. “The value proposition of the …