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SA businesses gear up for competitive marketplace but fall short when it comes to transforming data into insights, according to Experian’s 2017 survey.
Brolink has always been at the cutting edge of technology in insurance. When Websure was launched more than fifteen years ago it was one of the first local insurance systems to provide a web-based user interface for all of its functionality. Brolink was also one of the first South African companies to use credit scores for insurance premium rating. Ten years ago Brolink became the first company in South Africa to provide full comparative/ multi-quote functionality integrated into a policy management system such that policies can be made live without recapturing from a stand-alone third-party quoting system.
It has been said that data has become the world’s most valuable resource – even more valuable than oil, because of its potential to revolutionise the way we do business. Just as oil and the internal combustion engine revolutionised transportation for every sector and industry, the application of big data to help drive cost savings and improve efficiency is practically limitless in any business environment, when applied creatively.
According to a BBC report, computer company IBM stated that 2.5 billion gigabytes of data was generated every day in 2012. Adding further gravitas to this are reports that an estimated 90% of the world’s data was generated in the last five years alone.
What can retirement funds do to improve client-adviser engagement during members’ employment years?