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Analytically driven insurers are expanding their use of data science to address inherent efficiencies in cost structures. (Photo: Shutterstock)

Two years ago, we noted an important crossroads moment for the insurance industry. There had been a wave of announcements from Google, Overstock, and others about entering the insurance market — only to exit a year later. Many saw this rapid retreat as validation that insurance is too complex, regulated and capital-intensive for outside players to gain meaningful traction.

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