Big data is essential for life insurance settlements. Here’s why that matters and what it means for life insurance logistics. The life insurance industry will soon undergo a dramatic transformation in response to advances in big data. A growing number of digital startups are starting to emphasizethe impact of big data in this antiquated business.
A number of insurance executives have been reluctant to embrace the changes of big data. One study found that 74% of respondents felt that the insurance industry had done an inadequate job addressing the need for big data. However, a growing number of insurers are starting to appreciate the need. One area that life insurance companies can utilize big data in is with settlements. Several Ways Big Data is Helping with Life Settlements There are many reasons why life settlements have become more popular with consumers in recent years.
Author: Ryan Kh