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How insurers can reduce risk through Smart Data

 

As insurers worldwide position themselves for the post-pandemic environment, however weary of the current operating conditions, industry confidence is high. Projected growth will outstrip current written premium for life and non-life in 2022 compared to last year.

As heartening as this optimism is, uncertainties abound, from the shadow of inflation to continuing disorder in global supply chains. The COVID-19 pandemic is far from over, and the Great Resignation threatens to disrupt key employee availability. From increasing motor parts prices to cyberattacks, semiconductor shortages to climate change, the range of risks insurers face is broader than ever.

As this turmoil churns, technology, unwilling to wait for us to catch our breath, continues to advance. With so much going on, opportunities in Smart Data are easy to overlook but lucrative for those embracing change.