"A Step-by-Step Approach Needed" - Board Member of VSK on Collaboration of Insurers with Big Data
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Event Focuses on Data LakeHouse Opportunities and Implementation Prospects
Olga Sorokina shared her industry experience, emphasizing the importance of a phased approach to implementing Data LakeHouse technology, the significance of cross-industry collaboration, and the need for standardized evaluation methods for investment efficiency.
At the heart of the discussion during Olga Sorokina's keynote speech at one of the key sessions of the annual CIPR 2025 conference was how insurance companies approach working with large datasets.
The VSK approaches the adoption of new data storage architectures not just as a trend chase but as a tool to solve specific business problems. Primarily, initiatives that bring real value to clients and a tangible economic impact for the company are the focus. Every significant step in digital transformation involves rational analysis, prioritizing existing IT solutions, and staged development of the corresponding personnel skills.
Olga Sorokina's Practical Considerations
Practical constraints such as the complexity of storing and integrating various data sources, including real-time and unstructured data, as well as adherence to regulatory requirements, form a cautious and well-reasoned approach to experimentation. VSK engages in active dialogue in various pilot projects with market players, government institutions, and technology startups, but the implementation of large-scale solutions takes place only after thorough economic effectiveness checks.
Apart from technical challenges, the question of business outcomes transparency remains critical when adopting new IT solutions. VSK places special emphasis on ensuring that each data-related investment project has a clear evaluation methodology and actual, not just promised, performance metrics, making it easier to minimize risks and plan business growth thoughtfully.
VSK will continue to test new data analysis tools and rely on partnerships with IT experts and industry communities to ensure that the introduction of innovations delivers tangible benefits to clients and the business.
Olga Sorokina, Member of the Board of Directors of the VSK Insurance Company:
Incorporating insights from the provided enrichment data, we can see that VSK's approach to big data generally involves data collection and integration, data analytics, personalization, and customer experience enhancement, as well as operational efficiency optimization. Big data analytics helps assess risk, detect fraud, personalize insurance products, and optimize internal processes.
A Data LakeHouse, with its unified data management, scalability, flexibility, cost efficiency, and enhanced data governance features, could be a strategic asset for an insurance company like VSK. By streamlining data management and enabling real-time analytics, a Data LakeHouse may lead to better operational efficiency, decision-making, and customer satisfaction.
- Olga Sorokina suggests that a Data LakeHouse, with its unified data management and cost efficiency, could potentially be a strategic asset in the finance sector, enhancing operational efficiency, decision-making, and customer satisfaction for insurance companies like VSK.
- In the realm of business and technology, VSK places emphasis on investing in projects with clear evaluation methodologies and performance metrics, ensuring that big data initiatives contribute tangibly to risk assessment, fraud detection, personalized insurance products, and operational process optimization.
