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The Digital Transformation is impacting the insurance industry in two overlapping waves
Aptly known as the “prophet of the big data era”, Viktor Mayer-Schönberger observed in his work entitled Big Data: The Revolution That Will Transform How We Live, Work and Think that “Big data marks the beginning of a major transformation
The insurance industry works on the principle of risk. Customers take out policies based on their assessment of a particularly bad thing happening to them, and insurers offer them cover based on their assessment of the cost of covering any claims.