IDG Contributor Network: Data-driven innovation in the insurance sector

Data is a core input to the insurance sector where it is used to calculate and put a price on risk. While established insurance brokers and underwriters may be experts in risk management, new entrants are leveraging new sources of data and analyzing it in ways which are transforming the sector. Incumbents have an advantage in terms of the data they already hold and the trusted brands they manage but a number of the largest firms are partnering with data-driven startups to create innovative prod