How can insurers take analytics to the next level and use alternative data sources to broaden engagement with digital consumers? (Photo: Shutterstock) How can insurers take analytics to the next level and use alternative data sources to broaden engagement with digital consumers? (Photo: Shutterstock)

Insurance has always been a data-driven business — just ask any actuary or underwriter. However, the incredible volume of personal information becoming available through sensors, third-party aggregators, and other alternative sources, as well as the evolving technology tools to make sense of it all, have not only bestowed an incredible bounty on the industry but are raising red flags as well.

A running theme throughout Deloitte’s “2020 Insurance Outlook: Insurers adapt to grow in a volatile economy“ is how insurers should take analytics to the next level and use alternative data sources to broaden engagement with digital consumers. The outlook also emphasizes the flip side, looking at potential pitfalls of expanded data access and analysis, including heightened cybersecurity and privacy considerations.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PC360 Evolving Risk Summit 2023Event

A Conference Designed to Help Insurers and Risk Managers Stay Two-Steps Ahead of Property & Casualty Evolving Risks.

Get More Information
 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.