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Mike Daly

| less than a minute read
Reposted from InsurTech World

Would you choose a holiday with only 20% of info? So why run a company that way?

Insurers typically access only 10% of data. That's a damning indictment! Other sectors follow same failings so they shouldn't smirk!

"An executive at a multinational insurance company based in Germany refers to unstructured data as their greatest risk. They understand the numbers involved, and are working to ensure they’re not caught off-guard by writing insurance policies that expose them to liabilities they could have avoided."  Alex Welsh SD Times 16 Jan 2018

So, most of the 90% is unstructured but that is no excuse. You can retrieve that, transform it into analysable data and run the business with complete insight to make better decisions. In fact you must!

More detail in the article linked below

Would you choose where to go on vacation if you could only access 10 to 20 percent of the reviews and information on a travel website? If you do, you will probably have an unforgettable trip, but for reasons you might not like. Yet government organizations and businesses – from manufacturing to insurance companies, and healthcare to banking – are making decisions along this very same line. And they’ve been doing so for years.

Tags

bi, analytics, insurtech, big data, unstructured data