Forecasting events and their predicted impact — and evaluating overall risk — is the model the insurance industry was built on. But until recently, these calculations were based on past data patterns derived through traditional statistical methods.
With the emergence of big data, machine learning and predictive analytics, insurers now have the opportunity to analyse seemingly unrelated data sets (structured, semi-structured, or unstructured) to forecast and predict future events with more accuracy than ever before.
The insurance space is undergoing a major transformation as customer expectations evolve, regulations change, and new entrants make competitive pressures even more fierce. In the current landscape, insurers face many challenges but also significant opportunities.
Download this Hitachi Solutions whitepaper, which explores how machine learning is reshaping the insurance sector.
About Hitachi Solutions
For more than a decade, Hitachi Solutions America, Ltd has helped insurers utilise the latest advances in technology to transform their business models, drive growth, and meet evolving consumer expectations.
As insurers look to move away from legacy systems and modernise operations, Hitachi Solutions can help forge the path forward. With on-premise and cloud capabilities, we can help your insurance organisation modernise your core systems for optimised operations with our insurance solutions built on the Microsoft Cloud.
We understand the Internet of Things (IoT) is changing the insurance industry in a very big way. It’s now possible to capture immense amounts of data on everything from a customer’s driving patterns to their fitness level. Hitachi Solutions helps insurers use this data to power and strengthen a variety of applications, such as a CRM (Customer Relationship Management) system and GIS (Geographic Information System) technology.
Hitachi Solutions America provides global capabilities with regional offices in the United States, the United Kingdom, Canada, India, Japan, China, and Asia Pacific. For more information, call 888-618-1521 or visit: www.hitachi-solutions.com.