KDnuggets : News : 2003 : n23 : item20 < PREVIOUS | NEXT >


Life Insurance Corp plans new data mining project

By Amit Tripathi -- Mumbai, December 1, 2003

Insurance major, Life Insurance Corporation (LIC), has laid out firm plans to leverage its policyholders' database through data warehousing, and plans to mine the information for developing new products and schemes.

Initially the solution will only be available at the head office and will be used for product development,' says Singh. Later, smaller subsets of the solution called data marts, are expected to be rolled across the company's 2,000 branch offices across the country.

Presently, LIC's raw database size stands at 8 terabytes, and is expected to grow to 14 terabytes in five years time. The company presently adds over 2.75 crore new policies every year, and this is expected to climb to three crore policies next year.

KDnuggets : News : 2003 : n23 : item20 < PREVIOUS | NEXT >

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