Research Conducted at Swiss Federal Institute of Technology in Zurich Has Updated Our Knowledge about Data Analytics (Zurich Insurance Uses Data…

Research Conducted at Swiss Federal Institute of Technology in Zurich Has Updated Our Knowledge about Data Analytics (Zurich Insurance Uses Data Analytics to Leverage the BI Insurance Proposition)

By a News Reporter-Staff News Editor at Science Letter -- Investigators discuss new findings in Information Technology - Data Analytics. According to news reporting originating from Zurich, Switzerland, by NewsRx correspondents, research stated, "As the interdependencies due to global trade and interconnected value chains have grown, firms and their value chains have become more prone to disruptions. Consequently, many firms resort to business interruption (BI) insurance to transfer the disruption risk."

Our news editors obtained a quote from the research from the Swiss Federal Institute of Technology in Zurich, "Given the limited amount of literature available about BI loss and claims characteristics, insurance companies and their customers will benefit from the insights that resulted from the project underlying this study. The project involved a collaboration between Zurich Insurance and the Swiss Federal Institute of Technology Zurich, in which we extracted a large amount of data pertaining to BI claims from various data sources and analyzed these data. We found, for example, that the average share of BI losses has increased significantly over the past 15 years. Moreover, the BI risk exposure, measured as BI share of the total insurance claims, the average recovery time, and the increased costs of working, differs significantly based on the industry affiliation of the firm experiencing the loss."

According to the news editors, the research concluded: "Our results have implications for the targeted risk assessment of BI risk exposures and the development of tailored supply chain risk management practices and risk transfer along the value chain."

For more information on this research see: Zurich Insurance Uses Data Analytics to Leverage the BI Insurance Proposition. Interfaces, 2018;48(2):94-107. Interfaces can be contacted at: Informs, 5521 Research Park Dr, Suite 200, Catonsville, MD 21228, USA (see also Information Technology - Data Analytics).

The news editors report that additional information may be obtained by contacting K.J. Mizgier, Swiss Fed Inst Technol Zurich, Dept. of Management Technol & Econ, CH-8092 Zurich, Switzerland. Additional authors for this research include O. Kocsis and S.M. Wagner.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1287/inte.2017.0928. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

Keywords for this news article include: Zurich, Switzerland, Europe, Information and Data Analytics, Information Technology, Swiss Federal Institute of Technology in Zurich.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2018, NewsRx LLC