Data agility and its disruptive impact on the future of insurance

September 20 2017

The next 15 years will see an entirely different landscape of products and services being offered to help us manage, evolve and predict our financial security. Digitally savvy, non-traditional insurance companies will use highly evolved user experiences and individually tailored products to compete with mass market offerings from the established high street brands.


Battles will be fought and won over the ability to develop new and sometimes disruptive insurance products and business processes. And this will only be possible with new levels of data agility.

To compete, insurance providers need to deepen their understanding of their customers, more accurately predict needs and react timely upon them, to remain competitive – data must become a tool used to understand their customers inside-and-out. But the big challenge to transformation is the change in the velocity of information. There’s now more data, from more directions and at greater speeds than ever before. And many of the systems and services at most insurers were not designed with this in mind.

For example, a survey by Deloitte UK suggested that about 40% of customers would be willing to track their behaviour and share this data with insurers for a more accurate premium. But where would this tracked information go?

In the same survey, 42% of customers between 24 and 35 years of age that have healthcare insurance would like a service that detects potential issues or problems and provides assistance. What problems? What service? This is new information that needs reliable data sources.

Telematics is another high velocity data example, used frequently as an offering to reduce car insurance premiums. But to drive better adoption, insurers might need to examine how to provide people with information they need and can relate to, e.g. How do I reduce my carbon footprint? How does my lifestyle relate to risk in health and safety?

In this on-demand webinar, we discuss how best practices in data management are key enablers for change in the insurance industry, particularly looking into:

  • Digital transformation and its impact on the insurance business
  • Challenges to developing business growth from a digital transformation strategy
  • How information governance can help to meet challenges and build sustainable agility
  • The digitally agile insurer of the future

>> Watch the on-demand webinar now



Michael commercialise des solutions technologiques depuis près de deux décennies au niveau des fournisseurs, des partenaires et des agences. Chez Stibo Systems, Michael est responsable de la commercialisation de nos solutions MDM à travers l'Europe, à ces entreprises qui sont confrontées à la capacité d'utiliser leurs données pour améliorer l'engagement des clients et augmenter les ventes.
Despite his youthful appearance, Michael has been marketing technology solutions for nearly two decades at vendor, partner, and agency level. At Stibo Systems, Michael is responsible for marketing our MDM solutions across Europe, to those enterprise businesses who are challenged by the ability to use their data to improve customer engagement and increase sales.
Trotz seiner jugendlichen Erscheinung vermarktet Michael Lonnon seit fast zwei Jahrzehnten auf Hersteller-, Partner- und Agenturebene Technologielösungen. Bei Stibo Systems ist er für die europaweite Vermarktung unserer Stammdatenlösungen verantwortlich und unterstützt zukunftsorientierte Unternehmen dabei, mithilfe ihrer Daten die Kundeninteraktion zu verbessern und den Umsatz zu steigern.

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