What Does "Using Big Data" Mean in Claims

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Every insurance company has oceans of data. Many are drowning in their own data. What they don't have much of is actionable information. Every company has near term, descriptive data. This is point in time information that provides a metric for a variable at a fixed point in time – new claims, new applications, closed claims, endorsement error rate, etc. Most companies now have insightful data.
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