Data is the premiere resource

Data is at the heart of an interconnected world. One of the major reasons intermediaries are still the most powerful insurance distribution channel is that they are the gatekeepers of information: They generally know their customers best, better than the insurer itself. But the traditional insurance agent is slowly disappearing. In a digital world, insurers need to collect data themselves, which means their customers must be willing to share this valuable resource. How can insurers make this happen? Data from a recent IBM Institute for Business Value global survey of consumers points the way: Insurers need to increase trust, create benefits and make sharing easy.

Featured findings

68 percent of insurance executives surveyed expect that acceptance of data and information sharing will increase over the next ten years
Only 21 percent of insurance customers surveyed are willing to share their social media profiles with their insurers
47 percent of insurance customers surveyed expect personalized and tailored services.

About the authors

Christian Bieck

Christian Bieck
Global Insurance Leader
IBM Institute for Business Value

Peter Maas

Peter Maas
Associate Professor of Management
University of St. Gallen

Lee-Han Tjioe

Lee-Han Tjioe
Vice President and Consulting Partner
IBM Global Business Services

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