Big Data Analytics Technology Adoption in Kenya Insurance Industry: A Systematic Literature Review

Abstract

The insurance concept was found numerous centuries Before Christ (BC). Correspondingly, Chinese and Babylonian traders practised moving or dispensing risks in 2nd and 3rd millennia BC. Nowadays, insurance is the backbone of the economy but developing economies face challenges in increasing its penetration. The recent introduction of Big Data, IoT and InsurTech led to the fourth industrial revolution in insurance in the developed world. This study explores the challenges and solutions in adopting big data analytics to increase insurance penetration in Kenya. This study applied a Systematic Literature Review (SLR) to extract the themes/variables relating to challenges and solutions in adopting big data analytics in Kenya's insurance sector. Several keywords were used to search for relevant literature from Google Scholar. Based on inclusion and exclusion criteria, the filtered studies were explored.  This study listed several challenges and solutions to adopting big data analytics in the Kenya insurance industry. Policymakers could adapt to the suggestions to improve the service delivery insurance sector.