As big data becomes prevalent, insurance companies increasingly collect and analyze customer data to extract valuable insights that can inform business decisions. YFS Magazine, a leading business website, recently reported that the insurance industry had invested over $3.6 billion in data analytics, acknowledging the significant advantages it can offer.​

1. HowDataAnalytics
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InsuranceIndustry

9. Moreover, insurance companies are increasingly adopting digital solutions such as cloud
migration to store, process, and analyze large amounts of data and implement new
analytics. This adoption enables them to leverage emerging technologies, like machine
learning and artificial intelligence, to augment processes like underwriting, claims
processing, and customer service. Cloud migration's flexibility and scalability also enable
insurers to quickly and cost-effectively adjust their infrastructure based on changing
business needs.