Insurance holds importance for everybody as it deals directly with the safety of our lives and assets.
Big data analytics is an innovation that helps companies in taking the correct decisions by providing them with intuitive insights. Big data use cases in the field of insurance exemplify what an industry can do, given the right insights.
The insurance industry holds importance not only for individuals but also business companies. The reason insurance holds a significant place is because it supports people during times of adversities and uncertainties. With technology evolving at an astonishing pace, how it manages to find applications across several industries is an exciting spectacle. Big data refers to the abundance of information collected from numerous sources. The data collected from these sources are of varying formats and change at tremendous speeds.
1. Collecting Information
As big data refers to gathering data from disparate sources, this feature creates a crucial use case for the insurance industry to pounce on. When a customer intends to buy a car insurance, the companies can obtain information from which they can calculate the safety levels for driving in the buyer’s vicinity and his past driving records.
Apart from calculating the risks, companies often phase out the possibility of the driver being involved in an accident. Using stats, deciding on the premium and cover for an insurance buyer becomes easier as vital information actionable insights to the insurance company.
Referring to life insurance and as big data in healthcare is already an application, companies can encourage users to wear smart gadgets that can be linked to databases that transmit health information from users to the organization’s database. Collecting information helps insurance companies in warning the insured individual about an impending illness or disease. If alerting is not feasible, companies can increase the premium and offer coverage accordingly. Raising the cover allows users to feel secure about themselves when under a life insurance.
2. Gaining Customer Insight
Determining customer experience and making customers the center of a company’s attraction is of prime importance to organizations. With big data’s introduction in insurance, agencies can easily store, manage, and access information arriving from several sources, which is directly related to customers.
This data can help organizations in gaining customer insights, such as past policies held by her, and answering frequent questions asked by a customer to the organization. With big data analytics, insurance agencies can have accurate information at their disposal, which can help them focus on improving customer experience.
3. Fraud Detection
Insurance frauds are a common incidence. Big data use cases for reducing fraud are highly effective. Using big data in insurance, companies can keep track of past claims made by a client and the possibility of her claims being fake. When systems detect that a claim is being made by someone who has a history of false claims, the system automatically halts the claim processing and initiates an investigation against the customer.
4. Threat Mapping
When an insurance agency sells an insurance, they want to be aware of all the possibilities of things going unfavourably with their customer, making them file a claim. Setting policy premiums also becomes easy as big data provides organizations with ample information to analyze from. When a customer wants motor insurance, for instance, the insurance company can analyze information about the areas where his vehicle travels the most and what is the possibility of that vehicle being damaged and how prone is that area to road accidents. When an insurance agency has such information available at their disposal, they can easily decide on how much premium they should charge to stay clear of any losses.
Even though the insurance agencies do not sell any physical products, this industry holds importance as it helps people by ensuring their social security. Organizations can look up to the use cases and learn about the ways in which big data analytics can help them. CTOs and CIOs of insurance agencies can start reading about how their agencies can further benefit from the use of big data.
The Best Programming Languages for Web Services and Their Advantages In 2022
The world is becoming more digital, and the need to learn digital skills is higher now than ever before. One such digital skill that has gained more prominence since the last decade is programming languages. We now live in a world revolving around technology, and basic knowledge of programming languages is becoming a necessity for many career options and job profiles.
There are many reasons to learn about the different programming languages and their advantages, and web services or web development is a big part of it. Web development is an ever-growing field and has plenty of opportunities. To grab these opportunities in web development, you need to equip yourself with the correct programming language. However, the plethora of language options available to you can be confusing, especially if you are a beginner.
This high-level language, often used by most websites as a client-side language, is a core technology in the World Wide Web. Initially, it was used only for developing web browsers; however, they now have new usages in non-web browser applications and server-side website deployments.
Since its creation in 1995, it has evolved into one of the world’s most popular programming languages and is highly sought after by various organizations.
- It is very popular and is everywhere on the net.
- It can run immediately in the client-side browser.
- It doesn’t demand much from the website server.
- Different browsers may interpret it differently sometimes, so writing cross-browser code is difficult.
This is a powerful programming language and is one of the best used in web development for multiple purposes. Furthermore, this open-source language is very easy to learn and deploy and is among the best languages for learning web development since it develops scalable applications and web pages.
Python has a unique selling point: the simple, productive, and elegant design of this language. It is the best for backend development with first-class integration with other programming languages such as C++ and C.
Python has numerous usages, especially in developing web and desktop applications and GUI-based applications such as machine learning, data science, and network servers. It also offers multiple toolsets for mathematics, statistics, and computational science with numerous libraries and frameworks like NumPy, Pandas, SciPy, and Scikit-Learn.
- It increases the productivity of programmers and developers.
- It supports several systems and platforms.
- It follows object-oriented programming.
- It ensures easy scalability, even with complex web applications.
- Offers numerous support libraries.
- It focuses on code readability.
- The database is primitive and slightly underdeveloped.
- Not ideal for mobile computing.
HTML stands for HyperText Markup Language. This language is the foundation upon which web development is built, and every developer must familiarize themselves with it. It is a very popular language and is currently one of the most used programming languages. While it cannot be described as a full-fledged programming language, HTML is the standard language for creating web pages.
HTML gives web pages structure and ensures that images and texts are correctly formatted. In addition, it is a fast language and helps developers design web pages much quickly because it uses templates.
- Learning and implementing is easy.
- It is free and accessible.
- All browsers support it.
- This language is static, so creating dynamic pages is impossible.
- It requires lots of code to develop a simple webpage.
PHP is highly productive in web development and is used vastly within this industry to build and deploy applications quickly.
- It has plenty of frameworks to offer.
- It can be used to develop web pages with ease.
- It supports object-oriented and functional programming paradigms.
- It also supports multiple automation tools used for testing and deploying applications.
- It uses the Xdebug extension, which allows for great debugging.
- It has a large ecosystem with incredible community support.
- It doesn’t have features for handling errors and security.
- It is slower to build a web page using this language alone than other programming languages.
CSS is similar to HTML because it is also a basic language that all developers should know. CSS is the acronym for Cascading Style Sheets. This language is mainly used along with HTML to govern a web page’s style. Combining CSS and HTML languages is often the mother of programming languages. For example, CSS determines the color, positions, and size of elements within a webpage.
CSS uses a cascading style, which means an applied style cascades down from the parent to the child throughout the web page. This cascading nature allows it to uphold consistency.
- It is a beginner-friendly language that’s easy to learn.
- CSS supports responsive website design.
- It simplified web page customization
- It increases the webpage loading speed.
- It is possible to suffer cross-browser issues.
- It has multiple levels, such as CSS2 and CSS3, which may lead to confusion.
This middle-level programming language was created in 1980 as an Objective C extension. C++ language is simple and easy to learn for beginners, and it has lots of usefulness. It offers everything that Objective C offers and more. It supports features such as object-oriented programming, except type checking and handling.
C++ supports OOP concepts such as encapsulation, inheritance, and abstraction. The compiling mechanism is quick and efficient, and it has a massive standard library.
- It is highly scalable.
- It is portable and easy to handle.
- It has extensive community support.
- Garbage collection is not automatic.
- The pointers have associated complexities.
There are numerous options for programming languages to learn for web development in 2022. However, you could get spoiled for choice and miss your way if you’re a beginner and new to the web development scene. Therefore, this article discusses some of the best and most popular programming languages you can kick start your web service journey in 2022.
Eun Rockwell is a professional journalist with extensive experience, four years. She also works as a freelancer and writes a lot of articles. In addition, she has had writing stints at My-assignment.help and Superiorpapers. Eliza is always focused on doing quality work to achieve her goals and objectives. In addition, Eliza is fascinated by creating original works that meet high standards. Feel free to connect with her by email.
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