According to a research it is estimated that Big Data investments in the insurance industry will have accounted for more than $2.4 Billion in 2018 alone. Due to a plethora of business opportunities for Insurers, Reinsurers, Insurance Brokers, InsurTech specialists and other stakeholders, these investments are further expected to grow at a CAGR of approximately 14% over the next three years. Insurance companies spend a significant amount on selling insurance and acquiring more customers. Insurance is estimated to lead US$2.7 trillion IT spend by 2020. Using Big Data & Data Science, insurers are revolutionizing business through Marketing, Underwriting, and Claims Processes.