Big Data Security Analytics in Bangladesh:
A short timeline is discussed on the development of big data security analytics in Bangladesh:
2014: The Bangladesh Association of Software and Information Services (BASIS) organized a seminar on big data to encourage its adoption in organizations.
2015: The Bangladesh government introduced the Digital Bangladesh 2021 strategy, for promoting its adoption in different industries, including insurance.
2016: The Bangladesh Institute of ICT in Development (BIID) explored the big data potentiality in different industries like agriculture, health, and transportation.
2017: The International Data Corporation (IDC) anticipated that the big data security analytics market would reach $29.3 million by 2020.
2018: Grameenphone formed a partnership with a data analytics company called Telenor Connexion to develop a new data analytics platform for improving services and marketing efforts.
2019: The Bangladesh Telecommunication Regulatory Commission (BTRC) designed the Telecommunications Big Data Analytics Platform to analyze data and provide meaningful information regarding consumer behavior. With this information, policyholders can make informed decisions.
Big Data Analytics in Bangladesh Insurance:
Although, big data analytics is in its infancy, especially in the insurance industry in Bangladesh, its adoption level is increasing day by day. A short timeline is discussed on the adoption of big data analytics for risk and insurance.
2016: Green Delta Insurance introduced a new data analytics unit to improve underwriting, claims management, and customer service.
2018: MetLife Bangladesh formed a partnership with a data analytics company called Clarifai to improve its underwriting and claims management processes.
2020: Pragati Life Insurance entered into a partnership with a data analytics company called Analyze to improve its underwriting, risk management, and customer service processes.
The insurance industry in Bangladesh is getting acquainted with the benefits of this technology in different operations.
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