2018/01/13 by Emmanuel Berthelé · 1 citation
Economics, Econometrics and Finance · Social Sciences · #Insurance and Financial Risk Management #Insurance, Mortality, Demography, Risk Management
paper · doi:10.1002/9781119489368.ch5
openalex publication_date 2018/01/13 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/29
The advent of big data in insurance has given rise to a belief in the ability of insurers to have a very precise knowledge of risk such that the price of guarantees could be personalized. This chapter highlights existing examples, examples under development or potential examples of the application of big data relevant in insurance within the meaning of the interest of the service and guarantees for the insured, gain in competitiveness or for risk management for insurers. Data science allows the optimization of available data to be used for a wide variety of purposes, particularly in the identification of risk factors and the understanding of behaviors. Given the large number of potential use cases, their identification and prioritization must be in the hands of the trades so as to maximize the added-value for the insurance company. The chapter further discusses development constraints specific to the insurance industry.