Big data challenges to enterprise risk management
Blog -- 12 May 2022
Author: Marketing
Big data refers to unstructured and/or structured data being used to influence underwriting, rating, pricing, forms, marketing and claims handling.
The ability to store, manage, and analyze big data is crucial for the future of the insurance and reinsurance industry. Making informed business decisions without being able to compile, summarize, and understand all this complex data is difficult; it is also hard to know if your company is satisfying its risk appetite and operating within its desired risk tolerances without knowing more about the entirety of your business.
Enterprise Exposure Manager (EEM) provides these critical functions and goes even further to help facilitate your global risk management process by applying insurance and treaty financial terms to deliver a net view. EEM could be the answer to leveraging and managing big data for your company, offering a new way to approach enterprise-level decision-making.
Read Next
- 01 March 2024 - Blog Case Study: Helping the Specialty Market Navigate Blueprint Two
- 12 February 2024 - Blog Augmented Underwriting – Better, Quicker Risk Pricing with Avatar
- 15 January 2024 - Blog Rishwinder Grewal joins Verisk
- 13 December 2023 - Blog Chris Spencer: Charting the Course for Underwriting Innovation