Big Data opens up MBA careers

11/11/2014

Liberty Mutual, based in Singapore, has been scooping up MBA students in Australia for its country leadership program in APAC and ASEAN, according to John Gurskey, director of the Melbourne Business School Career Management Centre.

 

“The markets in these regions are growing much more rapidly than Australia and require multilingual leadership talent,” he said.

Firms including Standard Life, Prudential and Old Mutual, which was poised to float its asset unit on the US stock market last month, have asset management arms which are seen as crucial business areas because pensioners are demanding more flexibility in how they access their savings.

For life insurers, it is more important for them to be accurate in their longevity assessments because pensioners are living longer than ever before.

Insurance firms have traditionally gathered limited information on customers but they are starting to ask more detailed questions. This shift allows them to use “big data” techniques to assess life expectancy, which could help them to attract more corporate clients who are looking for products that will help them manage the risk of workers who live longer in retirement than they were expected to.

MBA students must understand the implications of data analytics, John said. “MBS students learn to analyse data in a way so meaningful [that] business solutions can be created to solve a client’s problem.” It has proved so successful that the business school plans to launch a Master of Business Analytics program in 2015.

This extract is part of an article written by Seb Murray, Big Data Opens Up MBA Careers In Untapped Insurance Industry, BusinessBecause, 9th November 2014