Future of Auto Insurance i. Fully Autonomous Vehicles; ii. V2V (Vehicle-to-Vehicle) Automobile Technology; iii. Alternatives to the Automobile
With regards to role of IT in the growth of insurance companies, success is expected to come from cloud systems and analytics.
In case of motor insurance, the following data is appropriate for underwriting purposes: Age of the vehicle, Condition of vehicle, and other information culled from the proposal forms.
The TAC data requirement is under three major sets. The requirement is of individual records. The data sets are: Underwriting policy data, Claims paid data, Input data.
Analytics is the discovery and communication of meaningful patterns in data, especially valuable in areas rich with recorded information.
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