Big data as an effective development mechanism of insurance

Abstract

The problem what to do with a large quantity of information which increases annually with uncontrollable speed has been recently discussed more often. Not only quantity, but also quality of information plays an essential role. The control and timely analysis of data are the keystone to the success of the company development. However to understand, what means are necessary to carry out the analyses and how to consider the data array is only possible on the basis of Big data technology. Big data is information technologies including the set of processing tools and methods of a considerable quantity of data. Big data is actual enough in insurance. Effective system of information reception, optimization of decision-making introducing new insurance products and purposeful influence of cognitive processes on the consumer opinion about the insurance company demands great estimation efforts and analysis of the environment processes. So, the tools of Big data are of help for insurance. The research will be interesting to a wide range of the researchers. They are both the direct participants of the insurance market, experts in the field of Big data, financial experts and analysts, and scientists and consumers of insurance services