The recent Insurance Innovators event in Copenhagen presented a line-up of unmissable speakers from the largest incumbents and most innovative insurtechs to tackle the biggest issues of the day. Our team interviewed attendees on their take on how to leverage data analytics for the good of the customer. We’ve summarized these insights into a quick video:
“It’s a very specific question, but the question is quite big. I would always start with the customer.”
“From a customer service point of view communicating in the right way and the right time saying the right thing. How do we automate, make more efficient and also make better our interactions with our customers and data is one of the key things to make sure we do the right things.”
“Insurance is based a lot on data and analytics and that’s probably continue to be so.”
“Before the analytics even, figure out what the customer needs are, the customer pains.”
“The simplicity is in all the customer journey. It must be easy to buy insurance, it must be easy to file a claim, it must be easy to get the car fixed. So the whole journey must be simple.”
“Find new data sources and incorporate them in pricing and customer experience”
“If you incorporate data in pricing that would benefit the customer. They could also use it for risk prevention, which gives you the benefit of not having accidents for instance.”
“It will help insurance companies to sell their products build on expectations so that the customers will stay based on trust.”
“It’s a journey, both for the people working in insurance and for the people who have a claim. It goes step by step.”
“Claims is the moment of truth…. If you have a good experience at claims it is really important to keep the customer.”
”They want to cover more needs. Not only the insurance side, but also the service road side assist etc. This will get more complete coverage for the customers.”
“A lot of other parts of society are a lot further than insurance when it comes to digitalization. I think we have to step up a bit.”
“All seem to have proper strategies that need execution now. That’s the first step to success really”
“We care about the product quality, we like people should look more on quality. Also when you sell insurance”
“It has to be automated if you want to scale it.”
“We’re probably at a better place than we’ve ever been to estimate risks”
“There’s been a lot of change, how people get used to the digital area and also the demand.”
“Going forward I see a lot of benefits.”
