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Insurance Industry Continues to be Wary of Big Data

According to MWE, the insurance industry continues to consider the implications of use of big data. 

We previously reported on regulators’ increased attention to the use of big data systems, including external consumer data and information sources, algorithms and predictive models. Recent announcements in Colorado, Louisiana and New York addressing the use of not only big data but also more traditional “scoring” models signal a continued focus on this area by state insurance regulators.

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