Big data: The BIG factor driving insurance competitive advantage

Big data: Driving insurance competitive advantage

By now, most insurers understand the potential value that big data could deliver to their organisations. But our experience suggests that few insurers today are ready to take full advantage of the many opportunities that could be captured with greater data insights. Thankfully, there are a number of ways that insurers could start improving their data and analytics capabilities immediately.

Director, Social Media Intelligence

KPMG Australia


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Clearly, it will take something of a transformation for insurance organisations to evolve into the type of data-driven, insight-led organisations that are now emerging in other sectors.
But our experience suggests that there are a number of actions that insurance organisations could be taking today to start laying the groundwork:

  • Clean up the data you already have
  • Develop a data governance model
  • Create an enterprise data management function
  • Build a culture of experimentation
  • Focus on creating new areas for improvement or value creation
  • Move towards probability-based analytics
  • Ask the right questions.



Our insurance practice comprise multi-disciplinary teams, led by senior partners with extensive experience.

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