Fitch Ratings says in a new report that big data will be increasingly important to insurers’ profitability, competitiveness and – in the long term – credit ratings. With bond yields low and competition high, management of profitability is key for insurers. Fitch believes early adopters of big data will be able to reduce fraud, price more accurately and control distribution better, thereby gaining a vital competitive edge. Those that are slow to adapt may lose earnings or market position. The term “big data” describes extremely large data sets that may be analysed computationally to reveal patterns, trends and associations, particularly relating to human behaviour and interactions. Read More (Source: Reuters)
Fitch: Insurers Begin to Unlock Power of Big Data
by Jenny on March 30, 2015 Comments Off on Fitch: Insurers Begin to Unlock Power of Big Data
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Jenny
Jenny Dinnen is President of Sales and Marketing at MacKenzie Corporation. Driven to maximize customer's value and exceed expectations, Jenny carries a can-do attitude wherever she goes. She maintains open communication channels with both her clients and her staff to ensure all goals and objectives are being met in an expeditious manner. Jenny is a big-picture thinker who leads MacKenzie in developing strategies for growth while maintaining a focus on the core services that have made the company a success. Basically, when something needs to get done, go see Jenny. Before joining MacKenzie, Jenny worked at HD Supply as a Marketing Manager and Household Auto Finance in their marketing department. Jenny received her undergrad degree in Marketing from the University of Colorado (Boulder) and her MBA from the University of Redlands.