Insurance Sector is expected to double the total premium income in next four years. Indian life insurance market, largest in the world in terms of polices is expected to grow at a pace of 12-15% in the next five years. This generates enormous data about the customers’ behavioural patterns and other aspects of the business. In order to expand and grab a bigger market share the insurers will be required to adopt new methodologies to understand the market dynamics. Big Data analytics can serve the industry requirements of harnessing and harvesting the data available for business decisions.
