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Arthur D. Little

Arthur D. Little has been at the forefront of innovation since 1886. We are an acknowledged thought leader in linking strategy, innovation and transformation in technology-intensive and converging industries. We enable our clients to build innovation capabilities and transform their organizations. ADL is present in the most important business centers around the world. We are proud to serve most of the Fortune 1000 companies, in addition to other leading firms and public sector organizations. For further information, please visit www.adlittle.com

FINNOVATING

Finnovating is a Matching as a service platform that enables X-Techs from all around the word to connect , collaborate and get the funding they need to grow from investors and corporations globally. The Finnovating platform is a space were the key players of the Tech industry can connect together easily and boost global Tech innovations.

SØNR

Sønr is the world’s most comprehensive source of innovation intelligence. It is a subscription platform used by some of the best known insurance companies globally.

It tracks millions of companies around the world and provides insight on the latest market trends, the startups and scaleups reshaping the industry, and intelligence on how other big insurers are innovating.

Sønr includes a suite of tools designed for teams to better collaborate and connect. From recording meetings to capturing and sharing Notes, to being able to track and share activity across the company using Watchlists and CRM boards.

The platform is backed up by a team of consultants, researchers and analysts who support clients in discovering and creating new business opportunities.

Bringing Big Data to Life: Four Opportunities for Insurers – BCG

Article Synopsis :

Big data and analytics strategies have the potential to transform insurance business models and if implemented correctly, can lead to strong competitive advantage.

 The Digital Insurer reviews BCG’s Report on Bringing Big Data to Life: Four Opportunities for Insurers

Big data and analytics strategies are crucial for driving growth 

In the report “Bringing Big Data to Life: Four Opportunities for Insurers”, the BCG team argue that life insurance companies appear to be taking somewhat of a back seat approach to big data. The report then goes on to highlight how big data and advanced analytics can help life insurers gain access to a great deal of information that consumers might be persuaded to share – if the companies craft the right incentives, add value and create an easy platform for engagement.   It also outlines how forward thinking life insurers can profit from big data to power four growth strategies:

  • Enhancing Business Processes
  • Increasing Market Penetration
  • Deepening Customer Relationships
  • Underwriting New Risks

The report also highlights that insurers can enhance their ability to generate competitive advantage from the above strategies with the following actions:

  • Start with data-intensive business processes that have clear business potential
  • Develop proprietary data
  • Break down information silos
  • Build trust through mutual benefit

 

Link to Full Article:: click here

Digital Insurer's Comments

Insurers and in particular, life insurers, need to proactively identify opportunities to derive more value from their data in order to get ahead of the fundamental shifts occurring within the insurance industry.

We believe that insurers must begin to start implementing big data and analytics strategies now to attract and retain customers and to discover new market and/or product opportunities, all of which will have an impact on growth and profitability.

Insurers should start with the low hanging fruit and examine what data is already there that can be used to their advantage, but also consider what new data is required to truly transform the way they do business.
 

Link to Source:: click here

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