Big Data and Insurance: Implications for Innovation, Competition and Privacy

| March 1, 2018

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Advances in big data analytics, artificial intelligence and the Internet of Things promise to fundamentally transform the insurance industry and the role data plays in insurance. New sources of digital data, for example in online media and the Internet of Things, reveal information about behaviors, habits, and lifestyles that allow us to assess individual risks much better than before. In many instances, better data makes it possible to better align premiums and risks and to reduce the overall cost of insurance. This has great economic and societal benefits in that it allows premiums to signal risks, reduces the cost of informational asymmetries in insurance markets, and enhances efficiency, thereby boosting insurance protection.

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TD Insurance

At TD Insurance* we have the privilege of protecting more than four million Canadians and their families and providing trusted insurance advice and support. We work in two sectors: general insurance and life and health insurance. TD Insurance is the largest direct-response home and auto insurance groups in Canada.

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Spotlight

TD Insurance

At TD Insurance* we have the privilege of protecting more than four million Canadians and their families and providing trusted insurance advice and support. We work in two sectors: general insurance and life and health insurance. TD Insurance is the largest direct-response home and auto insurance groups in Canada.

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