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It is estimated that the world generated 1,200 billion gigabytes last year alone. How does one draw insights from such a vast amount of data to make actionable decisions? Can insurers use this overwhelming amount of data to improve their overall profitability and efficiency?

Availability of large volumes of consumer behavioral data, advances in device and sensor technologies, improvements in predictive analytics and simulation techniques, and methods for visualizing large volumes of data are revolutionizing how P&C insurers consume large sources of internal and external data to and make business decisions.

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