August 2016 - The insurance industry is slowly adjusting to an environment of data super-abundance and instant access to information. Internal data is more accessible than ever, third party data is readily available for acquisition and purchase, and new sources of data (big and small) are emerging rapidly.

Yet most insurers have yet to take advantage of big data and realize real business benefit, and those who have are not sharing their insights broadly. This report looks to other industries for lessons in using big data, and presents big data success stories from other industries in marketing, distribution, product design and risk assessment, as well as the lessons that insurers can learn from these organizations. The report also looks at big data applications across the insurance value chain, as well as challenges faced by insurers that have successfully leveraged big data.

CONTENTS
Introduction…2
Marketing and Product Development…3
Distribution Optimization and Marketing…4
Evaluating Risk…6
Big Data Applications Across the Value Chain…7
Concluding Thought…8
About Novarica…9