Driving a data-fuelled insurance business

The role of data in the insurance industry is evolving rapidly. New regulatory requirements, changing customer expectations, competitive forces and an exponential rise in data volumes have made it essential for insurers to be able to easily access high-quality data. As a result, many insurance companies are re-evaluating their approaches to data management.
 
Industry analysts IDC conducted a global survey of 125 insurance professionals (including representatives from life, motor, health, casualty, property and marine insurers) to understand which data projects they are prioritising, the hurdles they face and the solutions they have found.
 
This white paper sheds light on the research findings and provides recommendations on how insurance companies can reap the benefits of a data-fuelled insurance business.
 
Topics covered include:
• Emerging data-fuelled use cases such as intelligent regulatory reporting, intelligent customer on-boarding and intelligent underwriting.
• How insurers are responding by exploring new and varied data sources.
• What's stopping insurers making the most of existing data?
• Preparations for IFRS 17.
• Risk pricing and mitigation.
• The role of the cloud and managed services.
• Data management priorities for 2021.
• Recommendations for data management success.