“Genomics certainly is Big Data,” explained Toby Bloom, Ph.D. She regularly analyzes an estimated “12 terabytes a day” and stores up to “20 to 30 te

Read the full article at: siliconangle.com

While a lot of focus has been on how big data will affect your insurance premium, opportunities in health care are just fantastic as well.

A look into how your Facebook friends, credit record, spending patterns, driving habits and medical record could determine what you pay for insurance   

Read the full article at: www.interest.co.nz

This might get regulated but for now this is a greenfield opportunity for fast movers to outpace competition. The margin differences you can make by having the right data and data system combination are just huge.

Big data is being used to help reduce costs and improve the efficiency of current processes throughout the insurance value chain..

Read the full article at: www.lifehealthpro.com

As ones and zeros eat the world, data science is the new process of innovation. Good product managers have always been data-driven, bringing the voice of the market to bear on the new product development process. This was traditionally done by analyzing internal data on existing customers and data generated by a variety of market research tools. The explosion of data available on the Web has changed that by adding a vast new source of intelligence on potential and existing customers, competitors, and new technologies, materials, and approaches to product development.

Read the full article at: www.forbes.com

This graph was super informative! 

Oh, how times have changed during my 20-plus years in the insurance industry. Data wasn’t a word we used much back in the 80s and 90s, unless of course you worked in those arcane and mysterious IT data centres.

Even amidst the computerisation of the insurance industry in the 80s, many policy documents and related files were still paper-based. In those days the data being captured came from the company’s own staff and was keyed into a mainframe terminal. The most sophisticated ones received a bordereaux file from their insurance brokers, transferred through a kind of electronic data interface or courier process – and more often than not this was just a floppy disk received in the post.

Read the full article at: blogs.sas.com

This was a terrific read.