Data Analytics in the Insurance Industry

Summary

This practice note will provide practical guidance for attorneys on managing data analytics in the insurance industry. It will focus on data related to complaints, claims, call centers, privacy, and security. Rules and regulations on how companies need to keep specific types of data are also discussed. Data analytics is at work every time Amazon tells a customer they may want to buy a product, each time Facebook recommends a resource page, and when a life insurance company assesses risk and sets rates for potential policyholders. It's an area governed by layers of laws and rules, and one that is having a significant impact on the highly regulated insurance industry.