A data professional’s guide to jobs in the insurance industry
The insurance industry has been undergoing significant transformations The insurance industry has been undergoing significant transformations, driven largely by technological advancements and changing consumer behaviours. Two areas at the forefront of this evolution are telematics and Usage-Based Insurance (UBI). Telematics and usage-based insurance (UBI) are at the forefront of revolutionising how drivers are assessed, priced and offered coverage. By leveraging cutting-edge technology, insurers can now provide more personalised insurance policies, shifting away from traditional models based on demographics and historical data. One example would be the use of this model for new drivers. Drive well and you are rewarded with lower fees the following year, drive badly and pay more or not at all! The integration of these technologies into insurance products not only offers more personalised pricing models but also requires a unique set of skills for professionals within the sector...