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Data-Driven Sustainability: Innovations in the Insurance Sector
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Author(s): Rachit Agarwal (Chandigarh University, Mohali, India), Tanya Kumar (Chandigarh Group of Colleges, Landran, Mohali, India), Shraddha Rawat (Sam Higgibottom University of Agriculture Technology and Science, Naini, India)and Harpreet Kaur (Chandigarh Group of Colleges Jhanjeri, Mohali, India)
Copyright: 2026
Pages: 28
Source title:
Harnessing Data Science for Sustainable Insurance
Source Author(s)/Editor(s): Gagan Kukreja (College of Business Administration, University of Bahrain, Bahrain), Ayben Koy (Fenerbahçe University, Turkey), Pooja Kansra (Mittal School of Business, Lovely Professional University, India), Diksha Verma (Chandigarh Business School of Administration, Landran Mohali, India)and S.L. Gupta (Birla Institute of Technology, India)
DOI: 10.4018/979-8-3373-1882-0.ch007
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Abstract
The global insurance industry is transforming due to unprecedented climatic patterns, regulatory frameworks, evolving consumer expectations, and emerging technology. The issues we encounter in the 21st century is not adequately addressed by the statistical methods and risk assessments employed in insurance models. Technologies like artificial intelligence, machine learning, big data analytics, natural language processing, and geospatial modelling help insurers enhance sustainability. It introduces the Data-Driven Sustainability Integration Model (DSIM), where KPIS are set for economic, social, and environmental safety. Case studies show how artificial intelligence can identify fraudulent claims, Satellite imaging may evaluate agricultural risks, while telematics may be used in automotive insurance to encourage enhanced and more environmentally sustainable driving behaviours. The study analyses the main data-driven sustainability problems and prospects within the insurance sector, urging a shift toward a robust and reliable insurance system.
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