In recent years, driven by the industry internal needs and external forces, the application of insurance big data analysis and artificial intelligence has been adopted by more and more insurers to cope with the business challenges in the data era. Product design and actuarial, customer analysis and insight, claims analysis and optimization, customer service improvement and promotion, internal management improvement and risk control-big data analysis and artificial intelligence are disrupting the value chain of the insurance industry on a global scale.
As the world's second largest insurance market and one of the largest insurtech markets, China has a remarkable performance in the application of technologies represented by big data and AI. It is expected that the annual growth rate of big data analysis in china insurance market will be higher than the global average level CAGR 12.5% in the next five years. At the same time, we also note that the outbreak of the COVID-19 epidemic in 2020 has played a strong role in promoting the application of big data and AI in the insurance industry. How to seize the opportunity to effectively put big data analysis and AI strategies and plans into practice is still a challenge for many industry participants at present and in the future.
The 3rd Insurance Analytics and AI Innovation China 2020, held by IIC and based on the great success of previous editions, is the only international insurance analytics conference in China and it’s designed to gather the whole industry players to explore the latest trends and to share the best practices both home and abroad in applying insurance big data, analytics and AI. We expect the event to help you feel the pulse of industry development, inspire more innovations and boost your strategy implementation.
GrowingIO is a new generation of web and mobile data analytics platform. It offers a tool to track, monitor and analyse user behaviors of web and mobile applications instantly, while clients do not need to set the event tracking points in advance. Its toolset contains several lean operating modules which can help clients to achieve marketing promotion, product optimisation and customer success. The clients can also use GrowingIO to increase operation efficiency, reduce development cost and shorten development period. GrowingIO has raised $30M in Series B funding. Backers included Matrix Partners China, New Enterprise Associates and Greylock Partners.
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