Gartner Research

Big Data in P&C and Life Insurance Is Overhyped and Immature

Published: 13 December 2013

ID: G00248274

Analyst(s): Kimberly Harris-Ferrante

Summary

Few insurers have invested in big data, and most cannot yet articulate a business case for its use. Although big data has emerged as a high priority, most insurers are focused on gathering knowledge or developing strategy. They have yet to begin piloting or experimenting.

Table Of Contents
  • Impacts

Analysis

Impacts and Recommendations

  • Due to the limited investments and lack of maturity of initiatives, insurance industry CIOs will not feel the impact of big data until 2015
  • Lack of leadership for big data among insurance business executives has resulted in most current-day initiatives being IT-led, with limited results

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