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Where big data can't replace human insight

from Insurance Networking

There are some reservations about the role of big data analytics in decision making in the insurance industry. In particular, relying on automation to make decisions for us. For low-level operational decisions, the application of technology to sift through big data and run it through algorithms makes perfect sense. Renewing a policy with updates and price adjustments or flagging an instance of potential fraud, for example, are straightforward processes that can be handled by the machines. However, high-level strategic decisions — such as expanding the number of claims adjustors for a certain region or opening new offices — may always require human guidance. more

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