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Will Big Data Save The Insurance Industry: An Interview With Insurance Experts

By Michael Skiba and Roland B. Woerner 4 May 2017

- Transforming Big Data in Actionable Knowledge​

 

We are told that today we are living the age of Big Data, where information is abundant and smart technologies help us processing them. If there is an industry that can benefit from this golden age, it will be the insurance sector…​

 

 

Dr. Michael Skiba, Vice President Counter Fraud Strategies at INFORM & Roland B. Woerner, Vice President Claims Excellence Strategies at INFORM

 

…but ask any firm or decision maker whether they feel confident about risk management, fraud prevention, assessment or claims procedure. You will find out that abundance of data does not necessarily mean more control. Occasionally it means more confusion, inefficiency and more uncontrolled risk.


The contradiction frustrates the industry: in a world where we have access to more information we struggle to translate this flood of data into actionable knowledge. Where have we lost control? How can we get it back? This is what we try to learn from Dr. Michael Skiba and Roland B. Woerner from INFORM.​