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Harnessing Data Science for Sustainable Insurance

Harnessing Data Science for Sustainable Insurance
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Author(s): Vijayashri Machindra Gurme (University of Mumbai, India)
Copyright: 2026
Pages: 30
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.ch012

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Abstract

The rapid development of data analytics has revolutionized the insurance industry, and insurance professionals need to learn and upskill continuously. Formal training is required to develop data literacy and analytical competencies among insurance professionals through learning and development programs. Effective training programs are centered on developing technical competencies in data interpretation, predictive modeling, and risk assessment and developing a data-driven decision-making culture. The inclusion of data analytics in educational programs ensures that fresh insurance professionals are properly equipped with the analytical capabilities that make them fit for the workforce, filling the gap between theory and practice. Additionally, lifelong learning mechanisms like micro-credentialing and ongoing education are important so that insurance professionals can keep pace in the constantly changing insurance industry. Insurance analytics-specific training programs allow for employer need to be met with employee capability.

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