BDWL24 Conference Programme
Commercial Insurance: Data Rich, Information Poor
In today's commercial insurance landscape, data has become the cornerstone of decision-making processes. Insurers are inundated with vast amounts of data from various sources. However, amidst this abundance of data lies a critical challenge - the lack of actionable information. This conundrum is epitomised in the phrase "data rich, information poor," encapsulating the dilemma faced by insurance professionals worldwide.
Recognising these challenges, our approach focuses on leveraging advanced analytics and artificial intelligence, to make sense of data and get it into the hands of the right people to leverage its value. We are dedicated to integrating diverse data sources to help insurers assess risks effectively. Through technology and data governance, we can ensure compliance with privacy laws and regulations, while maximising data utility.
By addressing these issues, we aim to unlock the potential of the data reserves within the commercial insurance industry, transforming them into valuable insights that can drive decision-making, enhance customer experience, and improve operational efficiency.