The Application of Big Data in the Insurance Industry-with Potential Risks and Possible Solutions

DOI

10.2991/aebmr.k.220603.069How to use a DOI?

Keywords

Big data; Insurance Application; Disclosure and mishandling of information; Industry self-discipline; Privacy protection

Abstract

Big data is coming into use across industries. In recent years, the position of insurance in the financial industry is gradually rising. Life insurance and property insurance are two major types of commercial insurance, with the addition of big data technology, diversified applications are also emerging. Some feasible application modes combined with big data in these two insurance types are listed in the paper. Although the technical architecture of big data has become mature, there is still a very broad application and development space due to its flexibility. With the uncertainty of development, the following potential risks are put forward in the article, disclosure of personal privacy, mishandling of information, and Inadequate legal supervision. Some advice is proposed in the paper from the perspective of companies, individuals, and the legal system, and here follows a few examples: strengthen internal self-discipline, enhance self-protection consciousness, introduce a new law, etc.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article distributed under the CC BY-NC 4.0 license.

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TY  - CONF
AU  - Yude Li
PY  - 2022
DA  - 2022/07/01
TI  - The Application of Big Data in the Insurance Industry-with Potential Risks and Possible Solutions
BT  - Proceedings of the 2022 2nd International Conference on Enterprise Management and Economic Development (ICEMED 2022)
PB  - Atlantis Press
SP  - 423
EP  - 428
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220603.069
DO  - 10.2991/aebmr.k.220603.069
ID  - Li2022
ER  -