Big Data Based Solutions for the Digitalization of the Insurance Sector
Abstract
The insurance sector has entered a profound transformation process driven by technological advancements. Particularly in products such as individual retirement and life insurance, the ability to respond quickly and accurately to customer needs has become one of the key determinants of competitive advantage in the industry. In this context, Big Data analytics stands out among the innovations offered by Insurtech technologies. Big Data methods have had a significant impact on predicting customer behaviors, risk modeling, and optimizing processes within the insurance sector.
This study focuses on the modernization of a mobile application aimed at digitizing individual retirement and life insurance processes for a leading insurance company with a high market share in Turkey. The core innovative aspect of the project is the integration of algorithms supported by Big Data technologies into the sales and post-sales support processes of individual retirement and life insurance products. Through this approach, in-depth analysis of user behaviors, personalized recommendations, and risk management solutions are provided. This initiative introduces an innovative digitalization model that optimizes operational processes and enhances user experience in the insurance sector.
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Avcı, D. A., Şahin, G., Karagenç, Ş., Pak, B. K., Arkan, T. T., Tekin, M. K. (2024). Big Data Based Solutions for the Digitalization of the Insurance Sector. *Orclever Proceedings of Research and Development*, 5(1), 294-305. https://doi.org/10.56038/oprd.v5i1.558
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