Red lights "traveling" along a data highway. While consumers are more willing to share personal data in exchange for more personalized services and pricing, they do have concerns about their insurers' ability to use their data responsibly. For instance, just under a third (32%) of consumers say they significantly trust insurers to look after their data. (Credit: Knssr/stock.adobe.com) While consumers are more willing to share personal data in exchange for more personalized services and pricing, they do have concerns about their insurers' ability to use their data responsibly. For instance, just under a third (32%) of consumers say they significantly trust insurers to look after their data. (Credit: Knssr/stock.adobe.com)

The insurance industry has always been based on data. Risk models and actuarial analytics have been and will continue to be essential to how the industry allocates capital as well as how it assesses and prices risk.

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