Why data science will revolutionize insurance

The following is an opinion article written by Pranav Pasricha, CEO of Intellect SEEC. Data science will fundamentally alter insurance in a way that many don't expect and the impact will be felt across the industry, touching everyone from agents and brokers to underwriters and claims processors. While many fear it will replace legacy operations, upon closer examination, data science will only serve to enhance existing processes, driving efficiency and adding value. The Old Equation To understand the role data science will play in the future of insurance, you must begin with the basic underpinning of insurance: information x analysis insight. In today's insurance landscape, that theory has manifested into historic data x statistical modeling hindsight.