From Claim Settlement to Claim Prevention
Ever since it was the main sense of business for insurance companies to settle claims caused by accident or damage. Big data and predictive analytics have the potential to change this business model by predicting and preventing claims.
New technologies such as the Internet of Things (IoT) offer a complete new approach to the business model of insurance companies. By collecting, analyzing and using all sorts of data send by insured customers or insured assets insurance companies have a much better chance to prevent damages or accidents even before a claim is occurring.
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