Index

Citation

(2022), "Index", Sood, K., Dhanaraj, R.K., Balusamy, B., Grima, S. and Uma Maheshwari, R. (Ed.) Big Data: A Game Changer for Insurance Industry (Emerald Studies in Finance, Insurance, and Risk Management), Emerald Publishing Limited, Leeds, pp. 323-335. https://doi.org/10.1108/978-1-80262-605-620221019

Download as .RIS

Publisher

:

Emerald Publishing Limited

Copyright © 2022 Kiran Sood, Rajesh Kumar Dhanaraj, Balamurugan Balusamy, Simon Grima and R. Uma Maheshwari

---

INDEX

A/B campaign management analytics

, 25

‘Abacus rings’

, 3

‘Abnormal value’

, 130, 156

Accessibility

, 308

Actineo

, 250

Additional financial services

, 231

Address proof for health insurance

, 222

Adjoint

, 250

Age

of participants

, 282

proof

, 222

Agent network

, 232

Agri-insurance

, 109

Amazon

, 247

Analysis of Variance (ANOVA)

, 257, 258, 290, 293

Analytics

, 2

‘Annadata Suraksha Abhiyaan’

, 109

Anti-fraud activities

, 128–130

Anti-fraud network

, 156

Anti-money laundering laws (AML laws)

, 235

Apache Flume

, 198

Apache Hadoop

, 197–198

Apache HBase

, 198

Apache Hive

, 198

Apache PIG

, 198

Apache Spark

, 198–199

Apache Swoop

, 198

Apple Watch

, 4–5

Application programme interfaces (APIs)

, 93, 199

ARIMA model

, 67

Artificial intelligence (AI)

, 2, 18, 28, 36, 45–46, 52, 87, 142, 157, 235, 244

global AI robots

, 30

in insurance

, 210

Artificial neural networks (ANNs)

, 67

data analysis

, 69–78

descriptive statistics of MAE for

, 71, 72

descriptive statistics of RMSE for

, 72, 73

Atlas Insurance PCC Ltd, Citadel Insurance Plc

, 242

Attacks on control automation

, 307

Australian All-Ordinary Indexes

, 67

Authenticity

, 308

Auto insurance

, 87

Automated decision-making

, 277

Automated password recovery

, 309

Availability

, 308

Aviation industry, blockchain in

, 225–226

Back-end server

, 231–232

BAGIC GOQii Co-pay Option

, 7

Bajaj Allianz General Insurance Company

, 7

Banking, BDA in

, 200–201

Banking sector

, 163

banking due to Covid-19

, 170

challenges in retail banking

, 166–168

computerised banking

, 170–171

Covid challenges

, 170

Covid-19 pandemic

, 163

financial institutions

, 164

impact on banks

, 165–166

Neo technologies

, 170

new developments in

, 165

RBI taking steps in COVID-19 impact

, 168–169

research design

, 165

Behavioural data

, 203

Bharti AXA General Insurance Company

, 7–8, 9, 152

online sales systems

, 121

Big Data

, 2, 16, 46, 52, 91, 118, 150, 192, 247

anti-fraud activities

, 128–130

application in insurance innovation

, 119

approaches of insurance corporations

, 132–134

challenges faced by insurance companies

, 130–132

challenges in insurance sector

, 207–209

characteristics of

, 17

consciousness of detailed and distinguished marketing

, 123–125

depth analysis of insurance products innovation

, 119–121

dimensions

, 139

effectiveness and effectiveness of insurance products

, 125–128

emerging technologies in

, 27–29, 30–31

evolution of

, 193–194

initiatives

, 157–158

insurance and attributes of

, 151

for insurance companies

, 118–119, 150–151

insurance companies

, 24–27

in insurance industry

, 18

insurance product pricing accuracy

, 121–123

McKinsey Global Institute

, 17

security management

, 128–130

threats by insurance companies

, 156–157

in transformation of insurance

, 152–156

types of

, 17–18

volume, variety and velocity of

, 192

Big data analytics (BDA)

, 16, 19, 37, 138, 139, 193, 195

advent of

, 140–142

applications

, 199–201, 202–207

data sources, big data platform, and

, 143

decisions and destinations of FDI on

, 145–146

key sectors of insurance

, 22–23

tools for

, 197–199

trends in

, 21–22

types of

, 20, 195–197

Binding process

, 248

Bitcoin

, 214, 215–216, 315

Blockchain (BC)

, 18, 28–29, 37, 46, 52, 82, 214

application of

, 217

big data

, 91

casualty and property insurance

, 92

cyberattacks

, 83–84

fraud prevention

, 89–90

functions of insurance industry

, 93–95

history

, 214–216

insurance industry

, 84, 86–89

literature review

, 216

marine insurance

, 92

market share of Top 10 business segments of non-life insurance industry

, 217

micro-insurance

, 91

on operations of insurance industry

, 92–93

peer-to-peer ledger technology

, 84–85

policy underwriting

, 91

practical implication in insurance industry

, 95

reducing cost and time of claim processing

, 90

reinsurance

, 91

risk assessment

, 89–90

segments of non-life insurance industry

, 217–226

smart contracts and IoT

, 91

subrogation in claim

, 92

Blockchain-based value chain system

, 226

Body mass index (BMI)

, 3

Body-attached computers

, 3

Bots (see Virtual workforce)

Brute-force assault

, 309

Business

analytics approaches

, 141, 142

business-driven organisational model

, 133

processes

, 249–250

responsibilities

, 309

segments of non-life insurance industry

, 217

Business intelligence (BI)

, 118, 195

Cash reserve ratio (CRR)

, 169

Casualty and property insurance

, 92

‘Catalyst’

, 267

Cell phone

, 2

Centers for Disease Control and Prevention study

, 206

Certainty, evaluation of

, 175

Chatbots

, 29, 47, 52, 245

Cigna Company

, 207

Claim

processing

, 90, 277

settlements

, 44–45, 84

Climate change

, 240

Clinical Trials Regulations (CTR)

, 279

Coefficients

, 258

Cognitive computing services

, 30–31

‘Commissioned data processing’

, 273

Commodity Channel Index (CCI)

, 68

Communication

, 245

Competitiveness

, 305

Compound annual growth rate (CAGR)

, 30, 36, 179

Computer

, 304

vision

, 210

Computerised banking

, 170–171

Confidentiality

, 308

Conflicts of market development

, 130–131

Confused. com

, 248

Consent

, 269

Consumer insight (see Customer insight)

Conversational agents

, 210

Copyright

, 280, 312

Copyright intrusion

, 312

Coronavirus-2019 (Covid-19)

, 2, 162, 242

banking due to Covid-19

, 170

RBI taking steps in COVID-19 impact

, 168–169

Cost reduction

, 247–248

Counterfeiting

, 313

Countering financing of terrorism (CFT)

, 235

Credit

cards

, 233

risk

, 167

Cronbach’s alpha

, 252, 256

reliability analysis of each dimension using

, 257

Crop insurance

, 88, 174

blockchain in

, 225

Cross-selling

, 124–125, 244

Crowdsourcing

, 102

agri-insurance

, 109

building blocks for crowdsourcing-based insurance

, 107

dimensions of

, 103, 105

health insurance

, 109

insurance, analytics and

, 105–106

insurance in case of natural disasters

, 110–111

insurance-rating platform

, 109

Kaggle Campaign ‘The Claim Prediction Challenge’

, 108

merging insurance and analytics

, 111–113

motivations for

, 111

peer production

, 104

peer-to-peer insurance

, 106

pet insurance

, 109

review aggregator

, 106, 108

Crowdsourcing of Inventive Activities (CIA)

, 112

Cryptocurrency

, 82, 215

Cryptography

, 304

in insurance system

, 304

Customer

access device

, 232

acquisition

, 154, 204

centric work-based approach

, 244

centricity

, 243

experience

, 23

insight

, 154

retention

, 40

segmentation

, 25

service

, 36

Customer-centric approach

, 3

‘Customer-centric’ comprehensive service

, 127

Customer-related competitive advantages

, 24–25

Customers

, 232

Customisation of insurance products

, 119–120, 152, 203–204

Cyber defamation

, 312

Cyber insurance

, 318

Cyber Law

, 305, 310–315

Cyberattacks

, 316

cybersecurity measures

, 308–310

evolution

, 305

and solutions

, 306–307

strategic principles of cybersecurity

, 308

widespread cyberattacks

, 305–306

Cybercrime

, 305, 310

classifications of

, 311–313

and cyberterrorism threat

, 315–316

evolution

, 311

history of

, 310–311

safety in cyberspace

, 313–315

Cybercrime Outreach Programme

, 316

‘Cybercrime’

, 305

Cybercriminals

, 305

Cybersecurity

, 305

insurance

, 204

measures

, 308–310

strategic principles of

, 308

Cybersecurity law-based insurance market

cryptography in insurance system

, 304

‘cybercrime and cyber law’

, 310–315

cybercrime and cyberterrorism threat

, 315–316

data breaches

, 316

evolution of cyberattacks

, 305–310

expected impact of well-developed cyber insurance market

, 317–319

lack of information sharing

, 316–317

Cyberspace

, 306, 310

safety in

, 313–315

Cyberterrorism threat

, 315–316

Cyberthreats

, 304

Dark data

, 22

Data analytics techniques

, 24–25, 67

Data breach

, 304, 316

Data collection

, 50, 248–249

Data fabric

, 22

Data impact assessment (DIA)

, 266

Data islands

, 131–132

Data mining techniques

, 48–49, 66–67

Data protection

, 266, 305

law

, 270

Data protection authorities

, 271

Data Protection Directive (DPD)

, 266, 268

Data protection impact assessments (DPIAs)

, 270

Data protection officer (DPO)

, 266, 269–270

Data retention

, 278

Data Security Council of India (DSCI)

, 38

Data service

, 21

Data-driven insights

, 25

Davis–Besse nuclear plant

, 306

Debit cards

, 233

Deciphering expectations of GDPR

, 284–285

Decision-making

, 192, 194

Deep learning algorithms

, 210

DeepFraud

, 250

Deficient communications

, 131

Degree of security

, 271

‘Demand depression’

, 163

Demographics

, 281

data

, 203

of survey respondents

, 282–283

Descriptive analytics

, 20, 141, 195

Desktop as a service (Daas)

, 21

Desktop crimes (see Cybercrime)

Diagnostic analytics

, 20, 141, 196

Digital banking

, 167

Digital devices

, 231

Digital finance products

, 233

Digital financial inclusion

, 229–230, 233, 235–236

benefits of

, 233–234

components

, 231–232

definition of

, 230–231

digital financial inclusion research

, 233

goal of

, 231

limitations of digital technology in promoting financial inclusion

, 236

providers and instruments for

, 232

regulatory issues

, 235

risks of

, 234

Digital financial service provider types for digital financial inclusion

, 232

Digital India (DI)

, 36

Digital India Program (DIP)

, 36

Digital systems, effectiveness of

, 243

Digital technology

, 248

Digital threats

, 167

Digital transactional platform

, 231

Digital transformation

, 150

Digitalisation

, 258

Direct marketing

, 277

Disease Management Programme (DMP)

, 9

Distributed denial of service (DDoS)

, 306, 313

Distributed ledger technology (DLT)

, 223

Distributed ledger technology

, 85

Dotcom bubble

, 2

Driver Feedback app

, 207

Drone photography

, 249

Drones

, 47, 52

Duqu virus attacks

, 307

DXC Technologies

, 249

E-commerce

, 46

E-crime (see Cybercrime)

E-mail spoofing

, 311

Edge computing

, 21

Education, BDA in

, 201

Effectiveness model (EM)

, 252

Effectiveness of digital systems

, 243–251

Efficiency

, 245–246

Electrocardiogram (ECG)

, 193

Electronic data interchange (EDI)

, 224

Elmo Insurance Ltd

, 242

Email marketing

, 270–271

Emergency management

, 167–168

Encryption

, 271

End-users benefit

, 309

Enterprise resource planning systems (ERP systems)

, 28

Entrepreneurship

, 230

Environmental pollution

, 240

‘ePrivacy Directive’

, 271

Ethereum

, 215

‘EU-US Privacy Shield Program’

, 278

European climate law

, 241

European Court of Justice

, 280

European Data Protection Board (EDPB)

, 279

European Economic Community (EEC)

, 273

European Green Deal (EGD)

, 240

action plans

, 240–241

data analysis

, 252

EFA

, 253–258

effectiveness of digital systems

, 243–251

literature review

, 242

local environment

, 242–243

method

, 251

research instrument

, 251

research questions

, 251

results

, 252

sample characteristics

, 252–253

sampling procedure

, 252

European Insurance and Occupational Pensions Authority (EIOPA)

, 243

European Union (EU)

, 240, 266

Experience effectiveness (XE)

, 251

Experience innovation

, 243

Exploratory Factor Analysis (EFA)

, 252, 253–258

Exploratory factor analysis

, 287

Extraction method

, 288–289

Face recognition

, 130

Facebook

, 280

Factor analysis

, 253

Factor variables

, 287

Financial crisis

, 164

Financial Express

, 181

Fines

, 271

system for companies

, 286

FinTech

, 2

adaption rate

, 39

Firewall

, 308–309

First Information Report (FIR)

, 222

First Notice of Loss (FNOL)

, 249

Fitbit trackers

, 5

Fitbit®

, 4

FIVE 5-point Likert scale

, 251, 280, 281, 284–285

Flamer

, 306

Flames

, 306

Flood flash

, 250

Foreign direct investments (FDIs)

, 138

decisions and destinations on BDA

, 145–146

flows

, 176

in insurance sector

, 144–145

insurance sector post-FDI

, 177

IPAS for FDI in insurance sector

, 146

Forgery

, 313

Fraud

, 86, 87

detection

, 26, 200–201, 206–207

prevention

, 26, 89–90, 200–201

Freedom of interpretation

, 283–284

‘Friendsurance’

, 108

Full-service bank

, 232

Fuzzy control

, 304

Fuzzy robust principal component analysis (FRPCA)

, 67

Garbage-in-garbage-out approach (GIGO approach)

, 236

‘Gartner hype cycle’

, 86

GasanMamo Insurance Ltd

, 242–243

GDPR Effectiveness Model for Risk Mitigation model (GEMRM model)

, 282

Gender

, 282

General Data Protection Regulation (GDPR)

, 266–267, 268–269, 275–276

consent

, 269

demographics of survey respondents

, 282–283

DPO

, 269–270

effectiveness in risk mitigation,287

email marketing

, 270–271

encryption

, 271

fines or penalties

, 271

GDPR impact on insurance companies

, 277–278

personal data

, 272

PIA

, 272–273

privacy by design and default

, 272

processing

, 273

purpose

, 268

questions targeted to insurance employees

, 283–294

records of processing activities

, 273–274

right of access

, 274

right to be forgotten

, 274

right to be informed

, 274–275

survey

, 297–302

themes of

, 269

third countries

, 275–276

General Insurance Corporation of India (GICRE)

, 68

Get Proactiv

, 8

Global positioning system (GPS)

, 5, 36, 194

Global warming

, 240

Go Active customers

, 6

Go Digit Gen Insurance Co. Ltd

, 8

‘Good automobile owner’ app

, 127

Google

, 241

Google Fit app

, 5

Google Forms

, 280

GOQii Technologies

, 5, 7, 9

Governance, risk, and compliance management (GRC management)

, 94

Government of India (GOI)

, 174

Government-to-person digital payments

, 233

Green finance

, 242

‘Green’ concept

, 240

Gross direct premium income (GDPI)

, 179

Gross domestic product (GDP)

, 37, 145, 163, 181

Gross value added (GVA)

, 37

Group life insurance

, 89

Hadoop

, 197, 198

Hadoop Distributed File System (HDFS)

, 197

Harmful wastes

, 240

Haven Life

, 207

HDFC Life Insurance Company Ltd (HDFCLIFE)

, 68

Health AdvantEDGE plan

, 8

Health applications

, 6

Health Ensure

, 7

‘Health Goal’

, 9

Health insurance

, 83, 87, 109

blockchain technology in

, 217–223

Health risk assessment (HRA)

, 8

Health screening

, 8

Healthcare

, 23

BDA in healthcare sector

, 200

projects

, 207

Healthify Me app

, 5

High-tech crime (see Cybercrime)

Home insurance

, 206

Hybrid clouds

, 22

IAMAI-Kantar-ICUBE-2020 report

, 38

ICICI Lombard General Insurance Company Ltd (ICICIGI)

, 68

ICICI Prudential Life Insurance Company Ltd (ICICIPRULI)

, 68

Identity proof

, 222

Indemnification

, 175

Indian economy

, 162

Indian health insurance

, 217

Indian insurance

, 66

functions of insurance

, 175

indemnification

, 175

market

, 174

regulatory framework of insurance

, 177–187

Individuals, cybercrime against

, 311

Industrial control systems (ICSs)

, 307

Infinity Insurance Company

, 207

Information sharing, lack of

, 316–317

Information systems (IS)

, 27

Information systems, innovative

, 139

Information Technology (IT)

, 30, 208, 217, 244, 270, 305

Information Technology Act

, 305

Institute of Scientific Information (ISI)

, 50

Instruments for digital financial inclusion

, 232

Insurance

, 37, 244

AI and ML in

, 210

BDA applications in

, 202–207

claims settlement

, 10

insurance-rating platform

, 109

integration of

, 4–6

regulatory framework of

, 177–187

types of

, 202

Insurance Australia Group Limited (IAG)

, 182

Insurance companies

, 89, 138

analysis of results

, 281–282

automated decision-making

, 277

big data

, 118–119, 150–151, 157–158

claims processing

, 277

data retention

, 278

direct marketing

, 277

GDPR impact on

, 277

issues in biomedical research and technological advances

, 278–280

nature of information

, 277

pricing and underwriting

, 277

proportionality directive

, 280

research design

, 280–281

right to data portability

, 277

right to erasure

, 278

threats by

, 156–157

Insurance Distribution Act

, 242

Insurance Distribution Directive (IDD)

, 243

Insurance ecosystem

, 243

Insurance employees

deciphering expectations of GDPR

, 284–285

extraction method

, 288–289

factor variables

, 287

factors vary with different demographics

, 289–294

freedom of interpretation

, 283–284

GDPR reduced paperwork

, 287

GDPR underwriters to charge more accurate premium

, 283

increased employees’ workload or necessitated extra labour resources

, 286

questions targeted to

, 283

system of fines for companies

, 286

training costs

, 285–286

Insurance entity

, 283

Insurance fraud detection software

, 246

Insurance industry

, 2, 36, 44, 66, 83, 84

big data in

, 18

blockchain in

, 86–89

data value of

, 131

predictive performance of ANNs

, 68

significant aspects of

, 85

Insurance Mediation Directive

, 243

Insurance products

customisation of

, 152, 203–204

development

, 152

effectiveness and effectiveness of

, 125–128

innovation

, 119–121

pricing accuracy

, 121–123

pricing improvement

, 153

Insurance Regulatory and Development Authority of India (IRDAI)

, 2, 174, 177, 180, 208–209

Insurance Regulatory Sandbox

, 209

Insurance risk factors enrichment

, 153

Insurance sector

Insurance sector

, 44, 241

AI

, 45–46, 50, 56

big data

, 46

big data challenges in

, 207–209

blockchain

, 46, 56

chatbots

, 47

data collection

, 50

drones

, 47

emerging technologies in

, 45

FDI in

, 144–145

IoT

, 47–48

low codes

, 49, 53

mobile technology

, 48

predictive analytics

, 48

publication trends and citation structure

, 51

qualitative and quantitative research

, 49–50

social media

, 48–49

technology domain

, 52

telematics

, 49

thematic evolution

, 56

treemap

, 55

word cloud for technologies

, 54–55

Insurance-related securities (ILSs)

, 95

Insurers

, 4, 216, 244

InsurTech

, 242, 249

companies

, 246–248

in Maltese insurance industry

, 258

Integrity

, 308

Intellectual property right

, 113

Intelligence

, 45–46

Intelligent contract

, 216

Internal communication

, 245

Internal processes

, 247

effectiveness

, 250–251

International Centre for Counter-Terrorism (ICT)

, 315

International Data Corporation (IDC)

, 3, 118

International Finance Corporation (IFC)

, 143

International Insurance Information Technology Management Co., Ltd

, 122

International Telecommunication Union (ITU)

, 233

Internationalisation process

, 140

Internet

, 304

Internet of things (IoT)

, 3, 18, 29, 36, 45, 47–48, 52, 88, 91, 142, 194, 203, 223, 247, 308

customer relationships with

, 40

growth in India

, 38

technologies

, 41

trust management

, 38

and vitality

, 39–40

and wearable devices

, 4

Internet protocol (IP)

, 309

Internet relay chat crime (IRC crime)

, 312

‘Internet-connected holy war’

, 315

Interquartile range (IQR)

, 252

Investment

approach

, 138

diversification

, 230

Investment Map tool

, 146

Investment promotion agencies (IPAs)

, 145

for FDI in insurance sector

, 146

Iranian power reactor

, 307

IRDAI Act

, 178–179

Java Script Object Notation (JSON)

, 199

Jawbone band

, 5

Kaggle Campaign ‘The Claim Prediction Challenge’

, 108

Kaiser Normalisation, Oblimin with

, 288

Kaiser–Meyer–Olkin statistics (KMO statistics)

, 253, 287

Kernel-based principal component analysis (KPCA)

, 67

Know your customer (KYC)

, 84

Knowledge crime (see Cybercrime)

Kotak Mahindra General Insurance

, 9

Laws of Armed Intervention

, 315

Leveraging analytics

, 24

Liability exposure

, 316

Liberty Videocon General Insurance Company

, 8

Life insurance

, 83, 87, 205–206

Life-insured companies

, 174

Lifetime value analytics (LTV analytics)

, 24

Limited-service bank

, 232

Linear regression

, 67

LinkedIn

, 280

Liquidity

, 166

Loan moratorium

, 168

Local area network (LAN)

, 22, 306

Local environment

, 242–243

Location-based services (LBS)

, 127

Long-term repo operation (LTRO)

, 169

Low codes

, 49

Machine learning (ML)

, 19, 28, 196

in insurance

, 210

intelligence

, 250

Magma HDI

, 8

Malta Financial Services Authority (MFSA)

, 242

Manipal Cigna Health Insurance

, 8

MAPFRE Middlesea Plc

, 242–243

Map–Reduce model

, 197–198

Maqta Gateway

, 224

Marginal standing facility (MSF)

, 169

Marine insurance

, 92

blockchain technology in

, 224–225

Maritime

, 225

Market predictive models

, 25

Markov analytics

, 304

Max Bupa Health Coach mobile app

, 6

Max Bupa Health Insurance Company

, 6

McKinsey Global Institute

, 17

Mean absolute error (MAE)

, 69

Media and entertainment, BDA in

, 201

Median (Md)

, 252

Medical data

, 203

Medical reports

, 222

MetroMile

, 250

Mexican cash transfer programme

, 233

Mi band

, 5

Micro-, small-, and medium-sized enterprises (MSME)

, 168

Micro-insurance

, 87, 91

Micro-tasking

, 105

Mobile network operator e-money issuer (MNO e-money issuer)

, 232

Mobile technology

, 15, 48, 52

Mobility

, 225

MongoDB

, 199

Mony Life Insurance Company of America

, 9

Moov Now tracker

, 5

Motor insurance, blockchain technology in

, 223–224

Multimodal biometric technology

, 130

Multinational corporations (MNCs)

, 138

Multiple linear regression

, 252, 282, 289

Mutual Insurance Industry Association

, 128

National Security Agency (NSA)

, 315

National Stock Exchange (NSE)

, 68

Natural language processing (NLP)

, 249

Net stable funding ratio (NSFR)

, 169

Netflix

, 247

New India Assurance Company Ltd (NIACL)

, 68

New York Dam attack

, 307

Nike Running app

, 5

Non-bank e-money issuer (non-MNO e-money issuer)

, 232

Non-Banking Financial Company (NBFC)

, 164

Non-life insurance industry

blockchain technology applications in segments of

, 217–226

business segments of

, 217

Non-life-insured players

, 174

Non-performing assets (NPAs)

, 164

Non-repudiation

, 308

Non-traditional data

, 203

Nuremberg Eggs

, 3

Oblimin with Kaiser Normalisation

, 288

On-demand insurance

, 87

Onboard analysis port (OBD)

, 122

One-size-fits-all policy

, 247

OneXperience

, 247

Online analytical processing (OLAP)

, 193

Online media data

, 203

Open-source and data ecosystems

, 30

Open-source software storage tools

, 142

Organisation, cybercrime against

, 312–313

Organisation for economic co-operation and development (OECD)

, 143

P2P insurance

, 88

Paired sample t-test

, 69

Parametric insurance

, 88

Paris agreement

, 240

Passport-size photograph

, 222

Pay-as-you-go (PAYG)

, 243

Pay-As-You-Live service (PAYL service)

, 3

Pay-how-you-drive (PAYD)

, 243

Pay-per-use insurance

, 91

Peer production

, 104

Peer-to-peer insurance

, 106

Penalties

, 271

People’s Insurance Company

, 124

‘Percent’ app

, 125

Personal computer (PC)

, 306

Personal data

, 272, 278

Personalisation

, 244

Personalised products

, 10–11

Personalised service and pricing

, 207

Pet insurance

, 109

Petabytes (PB)

, 19

Phishing

, 312

Plagiarism

, 113

Point-of-sale (POS)

, 231

Policy administration

, 249

Policy underwriting

, 91

Policybazaar Insurance Web Aggregator Pvt. Ltd

, 8

Political, economic, legal, and cultural structure (PELC structure)

, 146

Poverty reduction

, 230

Pradhan Mantri Fasal Bima Yojana (PMFBY)

, 37

Predictive analytics

, 20, 21, 48, 52, 196

Predictive analytics for fraud detection

, 206–207

Predictive modelling

, 140

Predictive performance of ANNs and SVMs

, 68

Predictive techniques

, 66

Prescriptive analytics

, 20, 196

Pricing

, 277

Principal component analysis (PCA)

, 67, 287, 288

Privacy by design and default

, 272

Privacy Impact Assessment (PIA)

, 272–273

Processing activities, records of

, 273–274

Product

development

, 246–247

marketing

, 244–245

Property

cybercrime against

, 312

intrusion

, 312

rights

, 280

Property and casualty insurance (P&C insurance)

, 87, 91, 207

Proportionality Directive

, 280

Public key infrastructure (PKI)

, 214

Pulsar Calculator Watch

, 3

Quantum computing

, 21

Quantum computing

, 29

Questionnaire

, 252, 281

Questions

targeted at insurance employees

, 281

targeted individuals

, 281

Records of processing activities

, 273–274

Regression models

, 142

Regulation assessment

, 130

Regulatory issues of digital financial inclusion

, 235

Reinsurance

, 91, 317

blockchain technology and

, 225

Relational database management system (RDBMS)

, 193

Relative Strength Index (RSI)

, 68

Reliance General Insurance Company

, 8

Rental car insurance

, 88

Repo rate

, 168

Reserving conviction

, 175

Retail agents

, 231

Retail banking, challenges in

, 166–168

Reverse repo

, 168

Revolutionary technology

, 31

Right

of access

, 274

to data portability

, 277

to erasure

, 278

Risk assessment

, 27, 89–90, 204–206

service packs

, 152–153

Risk factors

, 122

Risk management

, 128, 276

service packages

, 121

Risk premium

, 175

Risk-based pricing

, 2

Risk-related competitive advantages

, 26–27

Riskless business

, 175

Risks of digital financial inclusion

, 234

Robotic process automation (RPA)

, 249

Root mean square error (RMSE)

, 69

Rotation method

, 288

Royal London

, 10

Runtastic app

, 5

Safekeeping

, 175

Safety in cyberspace

, 313–315

Sampling procedure

, 252

SBI Life Insurance Company Ltd (SBILIFE)

, 68

Science direct

, 83

Script Hub Plus

, 207

Security management

, 128–130

Self-awareness

, 5

Semi-structured big data

, 18

Semi-structured data

, 139

Sensitive Personal Data or Information (SDPI)

, 208

Sentiment analysis

, 142, 177, 180, 187

Sentinel One Labs

, 307

Shared economy insurance

, 88

Skywiper

, 306

Small-and medium-sized enterprises (SMEs)

, 94, 167, 232

Smart banking

, 170–171

Smart contracts

, 87, 91, 216

smart contract-based technologies

, 84

‘Smart homes’

, 4

Smart robots

, 28

Smart wearables

, 3

Smart-phone-connected devices

, 36

Smarter AI

, 21

Social media

, 48–49, 52

Social Network Analysis (SNA)

, 206

Society, cybercrime against

, 313

Software as a service (SaaS)

, 21

Solvency II Directive

, 243

Sony Walkman

, 3

Spam mails (see Spamming)

Spambots

, 311

Spamhaus initiative

, 306

Spamming

, 311

Spark MLlib

, 199

Spark SQL module

, 199

Stakeholders in health insurance

, 221

Standard business model

, 2

Startupbootcamp

, 247

Statistical Analytics Software (SAS)

, 142

Statistical Package for Social Science (SPSS)

, 252, 281

Statutory liquidity ratio (SLR)

, 169

Steel mill assault

, 307

‘Step-by-Step Insurance’

, 123

Stock customers

, 124–125

Stock prices

, 66

Structured big data

, 18

Support vector machines (SVMs)

, 68

data analysis

, 69–78

descriptive statistics of hit ratio for

, 74

descriptive statistics of MAE for

, 75

descriptive statistics of RMSE for

, 77

Survey

, 297–302

demographics of survey respondents

, 282–283

Sustainable economic development

, 240

Sustainable production

, 240

Tailored-made insurance

, 23

Targeted cyberattacks

, 305–306

Technical and organisational measures (TOMs)

, 272

Technological developments

, 241

Technology Acceptance Model (TAM)

, 241

Telematics

, 49, 52, 267

Terabytes (TB)

, 19

‘The Longitude Prize’

, 104

‘Things’

, 36

Tied insurance intermediaries (TII)

, 268

Time series analysis

, 142

Time-consuming process

, 142

Title insurance

, 87

‘Tokens’

, 95

‘TopCoder’

, 104–105

Traditional data

, 203

Training costs

, 285–286

TRAN Committee

, 225

Transaction Cost Theory

, 112

Transactional platform

, 232

Transformation of insurance

big data in

, 152–156

Transparency

, 274–275

Transport research wing (TRW)

, 37

Travel insurance

, 88

Trust management

, 38

Ukrainian power surge

, 307

Underwriting

, 277

United Nations Framework Convention on Climate Change

, 240

United Nations General Assembly

, 305

United Nations Model Law on Electronic Commerce model (UNCITRAL model)

, 305

Universal Sompo

, 8

Unstructured big data

, 18

Unstructured data

, 139, 154

Urban–rural income gap

, 230

US National Institutes of Health (NIH)

, 279

Usage-based insurance (UBI)

, 37, 122

‘USGI Coins’

, 9

Value-added facilities

, 127

Value-added services

, 10

Vehicle insurance

, 205

Video technology

, 245

Virtual machines (VMs)

, 22

Virtual private network (VPN)

, 309

Virtual workforce

, 28

Voice calls

, 245

Volume, variety, velocity, value and veracity (Vs of big data)

, 192–193

Volume, velocity, variety, veracity, and variability (Five ‘V’ factors)

, 151

Wearables

, 3

claims settlement

, 10

devices

, 4

insurance companies

, 7

integration of

, 4–6

personalised products

, 10–11

technologies

, 2–3

use in insurance

, 6–10

value-added services

, 10

Weather

index protection

, 120–121

insurance

, 120–121

Web jumping

, 313

Web of Science (WoS)

, 50

Web-based tools

, 146

WeChat

, 126, 129

Wellness programmes

, 8

Wellness Reward Programme (WRP)

, 9

WeSynergize

, 109

Working capital financing, ease of

, 169

Working capital interest

, 169

‘Working Party’

, 279

World Health Organization (WHO)

, 170

World Wide Web

, 131, 308, 310

Zhongshan Insurance Company

, 123