Mobility-minded digital customers expect insurance service “right here, right now” wherever they are at any time. Paying diligent attention to observational data is how you keep the promise. Pervasive vigilance is now table stakes. This requires new capabilities for modern ways of working. Old ways of working are incapable of keeping up with modern data streams and emergent customer needs.
Connected data, AI, and cloud is now mainstream in our lives.
Anticipating changing conditions creates even more opportunity for influencing behaviors and improving risk outcomes. Whether car or home, work or personal, the data keep flowing and the sensors keep sensing. Listening to customers has changed.
What insurers should do:
• Accept that customers expect you to listen, especially in moments of need.
• Align your analytic strategy and data strategy with your business strategy.
• Find out how to make sense of images, maps, weather, telemetry, and timestamped permanent records at scale across the enterprise.
• Embrace remote data collection by first parties, robotic services, remote sensors, third parties, and vendors.
• Realize you can’t do it all yourself. Acquire new skills and capabilities at scale, either with partners or directly.
