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Data Literacy and Digital Transformation in the Insurance Industry
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Author(s): Usharani Bhimavarapu (Department of Computer Science and Engineering, Koneru Lakshmaiah Education Foundation, Vaddeswaram, India)
Copyright: 2026
Pages: 26
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.ch005
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Abstract
With the data-driven business of the times, data literacy has emerged as a crucial skill set, especially in complex and information-based industries like insurance. The current research focuses on the impact of data literacy in enhancing decision-making capability in an insurance firm. A sample database of 1000 employee records was constructed with features like job title, experience, tools used, training hours, and decision rate. After preprocessing and PSO-based feature extraction, Bi-Stacked Artificial Neural Network (Bi-Stacked ANN) was employed to estimate data literacy in comparison to business impact. It was able to predict performance outcomes and identify key literacy features with influence on high-impact decisions. Findings show higher data literacy, especially training experience and tool competency, is positively related to decision-making performance. The study confirms the worth of investment in data literacy initiatives to unlock the maximum potential of analytics across insurance processes
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