The Application of Big Data in the Insurance Industry-with Potential Risks and Possible Solutions
Yude Li · Advances in economics, business and management research/Advances in Economics, Business and Management Research · 2022
Big data is coming into use across industries.In recent years, the position of insurance in the financial industry is gradually rising.Life insurance and property insurance are two major types of commercial insurance, with the addition of big data technology, diversified applications are also emerging.Some feasible application modes combined with big data in these two insurance types are listed in the paper.Although the technical architecture of big data has become mature, there is still a very broad application and development space due to its flexibility.With the uncertainty of development, the following potential risks are put forward in the article, disclosure of personal privacy, mishandling of information, and Inadequate legal supervision.Some advice is proposed in the paper from the perspective of companies, individuals, and the legal system, and here follows a few examples: strengthen internal self-discipline, enhance selfprotection consciousness, introduce a new law, etc.