Reports Outline Big Data and Cognitive Computing Study Results from Institute of Heritage Science (Earthquake Insurance in California, USA: What Does Community-Generated Big Data Reveal to Us?): Information Technology – Big Data and Cognitive Computing

Insurance Daily News

2022 JUL 12 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Fresh data on big data and cognitive computing are presented in a new report. According to news reporting from Potenza, Italy, by NewsRx journalists, research stated, “California has a high seismic hazard, as many historical and recent earthquakes remind us.”

Our news correspondents obtained a quote from the research from Institute of Heritage Science: “To deal with potential future damaging earthquakes, a voluntary insurance system for residential properties is in force in the state. However, the insurance penetration rate is quite low. Bearing this in mind, the aim of this article is to ascertain whether Big Data can provide policymakers and stakeholders with useful information in view of future action plans on earthquake coverage. Therefore, we extracted and analyzed the online search interest in earthquake insurance over time (2004-2021) through Google Trends (GT), a website that explores the popularity of top search queries in Google Search across various regions and languages. We found that (1) the triggering of online searches stems primarily from the occurrence of earthquakes in California and neighboring areas as well as oversea regions, thus suggesting that the interest of users was guided by both direct and vicarious earthquake experiences. However, other natural hazards also come to people’s notice; (2) the length of the higher level of online attention spans from one day to one week, depending on the magnitude of the earthquakes, the place where they occur, the temporal proximity of other natural hazards, and so on; (3) users interested in earthquake insurance are also attentive to knowing the features of the policies, among which are first the price of coverage, and then their worth and practical benefits; (4) online interest in the time span analyzed fits fairly well with the real insurance policy underwritings recorded over the years.”

According to the news reporters, the research concluded: “Based on the research outcomes, we can propose the establishment of an observatory to monitor the online behavior that is suitable for supporting well-timed and geographically targeted information and communication action plans.”

For more information on this research see: Earthquake Insurance in California, USA: What Does Community-Generated Big Data Reveal to Us?. Big Data and Cognitive Computing, 2022,6(60):60. (Big Data and Cognitive Computing - http://www.mdpi.com/journal/BDCC). The publisher for Big Data and Cognitive Computing is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/bdcc6020060.

Our news editors report that more information may be obtained by contacting Fabrizio Terenzio Gizzi, Institute of Heritage Science, National Research Council (ISPC-CNR), Area della Ricerca, C.da S. Loja, Tito, 85050 Potenza, Italy. Additional authors for this research include Maria Rosaria Potenza.