Showing posts with label motor insurance. Show all posts

Saturday, 11 May 2019

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EIOPA reviews the use of Big Data Analytics in motor and health insurance


The European Insurance and Occupational Pensions Authority (EIOPA) published its report on Big Data Analytics in motor and health insurance.
Data processing has historically been at the very core of the business of insurance undertakings, which is rooted strongly in data-led statistical analysis. Data has always been collected and processed to inform underwriting decisions, price policies, settle claims and prevent fraud. There has long been a pursuit of more granular datasets and predictive models, such that the relevance of Big Data Analytics for the sector is no surprise.


For further details please refer to the press releasefact sheet and the report.

Wednesday, 31 October 2018

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Insure yourself wisely: motor insurance



Insurance Europe has published an infographic today to help consumers ensure that they have appropriate motor insurance cover, drive safely in an increasingly connected world and know what to do in the event of an accident.
Consumers are, for example, encouraged to do a little research to find the motor insurance policy that best suits their needs. Insurance Europe also recommends that consumers do not just focus on the price of the policy, but also pay attention to exactly what it covers.
As driving across borders is an everyday reality in Europe and accidents between vehicles from different countries are common, Insurance Europe also published a step-by-step guide today on what consumers should do if they are involved in a road accident while travelling abroad.
The motor insurance infographic and the guide to the claims process for accidents abroad are part of Insurance Europe’s #InsureWisely campaign, which aims to increase financial literacy and awareness levels across Europe.
Financial education plays a vital role in ensuring that European citizens are equipped with the knowledge, confidence and skills necessary to improve their understanding of financial products and concepts. Insurance Europe also encourages EU policymakers and regulators to play a greater role in supporting this objective.