While many risk-bearers tout the ability to use their own data for the purpose of making better decisions in the areas of underwriting, pricing and fraud prevention, few truly have enough credible data to do such, nevermind the ability to paroperly measure its impact. The ability to do such will quickly morph an industry shaped by 100’s of years of tradition in ways noone could ever imagine. One will never be able to replace the “art of underwriting”, the science of it will take quantum leaps due to the ability to organize and analyze data like never before. Be assured that the race is on with those that have enough data to prove such – one way or another…”
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Business Insider August 30, 2012
