The insurance market is susceptible to change and must constantly adapt to changing consumer behaviour, the rise of fintech, as well as legislation and regulation. Insurers are catching up by digitising their customer processes, claim departments and fraud detection. In order to survive and grow, insurers need to adopt a distinctive position. Before insurers can respond to individual customer needs, it is important for them to know how to properly handle the Big Data that is generated in this field.
As margins are under such intense pressure, it is important to create a healthy balance in the value of a customer and the value that a supplier offers in return. The cornerstone of curbing the costs of performing their task is the efficiency of operations and customer processes. The corporate market will also be increasingly geared towards the retention of existing customers, whilst new services such as integrated staff management will need to deliver increased customer loyalty.
In order to be innovative and respond better to individual customer needs, insurers can gain great insight and applied knowledge from their customer data. There are strict rules in the industry on how to handle this data, the key question being whether or not these rules serve the interests of the customer. The General Data Protection Regulation offers more scope to use Big Data. Such Big Data is also ideal to use to innovate with new propositions and services.
Mapping (target) vs Mapping (actual)
Target groups and propositions
Business case and roadmap
Insight into value creation
Point on the horizon
Optimum customer experience
Privacy Impact Assessment
Structuring Privacy Management
Carrying Out Privacy Communication
23 March 2018
On March the 14th, at the request of Achmea, we hosted a Business Meetup at the... read more