“Insurers have realized the importance of Big Data and are determined to investigate its benefits. And it is much more than an academic approach: the number of US insurers using Big Data & Analytics, for example, has already more than doubled between 2013 and 2014, reaching 39% of the players with written premiums of over $1Bn. At the same time, in terms of general technology spending the Big Data market is growing seven times faster than the general IT market. Along with opportunities, however, there are also new risks associated with Big Data.”