Analytics must for expanding reach of insurance: IRDAI

Use of data analytics will improve product design and distribution which will expand the reach of insurance, according to T S Vijayan, Chairman, IRDAI.

Proper collection and deployment of data for analysis will help filling existing gaps in key areas such as auto, health insurance and disaster management/ insurance, he said adding that the data must be put to appropriate use.

R Raghavan, Chief Executive Officer, IIB said the objective of the conference was to learn from the Asian experience and also offer Indian expertise in data collection and analytics to the participating countries.