Scaling human expertise

With premium growth stagnant, declining income and disruption from outside players, insurers are looking more than ever for better ways to increase efficiency and get closer to the customer. As the cognitive era dawns, outperforming insurers are rethinking insurance: applying cognitive technologies that understand, reason, learn and interact can improve the way insurers do business. Sixty-nine percent of those surveyed in 2016 describe their organizations as prepared to adopt cognitive computing. At the core, data – internal and external, structured and unstructured, real time and historical – will power and differentiate cognitive systems.

Study highlights

90 percent of outperforming insurers expect cognitive to strongly impact their revenue models

81 percent of outperfoming insurers are aware of disruption from other industries

71 percent of outperfoming insurers have already started using cognitive technologies

About the authors

Christian Bieck
Global Insurance Leader
IBM Institute for Business Value

Dr. Andrea Cornelius

Dr. Andrea Cornelius
Global leader for cognitive solutions in insurance, IBM.

Sandip Patel
Global Managing Director for Insurance, IBM

Hirosuke Uramatsu

Hirosuke Uramatsu
Partner and sector lead of the Fintech/Insurtech initiative, IBM Global Business Services, Japan

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