Insurance, like many data-centric industries, has seen changes in recent years in the growth of third-party data, moving from an age of information scarcity to one of information super-abundance.
The growth in data is the subject of a new report from Novarica (Novarica Market Navigator: Data Services for U.S. Insurers 2012(Q1), which profiles 15 major data services providers that serve the insurance industry.
While insurers used to need to devote significant resources to gathering data about prospective risks and claims, more data than ever is now available on-demand (and at lower cost) from these commercial sources, according to Novarica.
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