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The traditional economic pattern of insurers under threat

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Magazine Issue: 
Insurers facing the digital turning point [3]
Magazine date: 
Jul 2016
The world of insurance, for the time being, is hardly affected by the advent of the digital. With the expansion of big data, we should brace ourselves for profound mutations to come.
Big data-digital

This technology allows more automation in the processes while reducing costs drastically.
The introduction of connected items will supply a more accurate data base since the behavior of policy holders will be perfectly measured.

This approach will profoundly alter pricing patterns and reduce the average amounts of premiums. Customization of insurance offers will, therefore, become an inevitable selling argument.

According to IBM, the insurance sector is expected to receive big premium sums in the course of the next 10 years via the internet and through big data.

Tue, 16/08/2016 - 09:54

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