Role of analytics in driving innovation in the insurance industry in developing countries

Abstract

Of late, the financial services industry is rapidly going much out of the traditional paradigm on the complex electronic ways of providing and the customer. Both the facets of the financial service sector, the financial service providers, and also the buyers, are going by way of an electronic evolution. Especially, the banking industry has developed a log of monetary assets, and a ledger entry paradigm to info and analytics driven banking operations, which subsumes traditional client behavior and online. This specific newspaper covers various scenarios in insurance, finance services, and development, in which big data analytics is turning away to be of a catalyst and paramount importance for change. The post also spotlights the attainable advantages of new technologies, including Internet of Things, Blockchain, Chatbots and robotics.