The insurance industry is preparing for a huge transformation in how it conducts future business – and data capabilities will lie at the centre of it. Companies are faced with many questions: Which data provide added value? What relevance does it have? With technology now available to analyse large volumes of information for useful patterns, the value of understanding it has grown exponentially.
Mobility innovation, technology development and insurance cases are closely linked, especially in topics related to mitigating risks, smart cities and new methods of transportation. Insurance companies focus on getting near real-time data from vehicles and improve the data quality for internal analytics. Increasing customer loyalty through external services as well as digitization and expansion of the service portfolio are becoming more important factors.
Together with V.E.R.S. Leipzig GmbH we presented our use cases for insurance companies along the customer journey at the digital event “Versicherung 2030” on April 21. The first part of the conference started with keynotes given by Dr. Christopher Lohmann, chairman of Gothaer Allgemeine Versicherung and Dr. Nils Mahlow, CEO & Founder at Claimsforce.
The following part of the event was splitted up into three different breakout sessions. One of them was dedicated to the topic “Automotive meets Insurance”, where Julius Jauch, Project Leader at V.E.R.S Leipzig GmbH, explained how we analyzed possible use cases along the insurance value chain in a joint ecosystem partner workshop for several month. Our Head of Partner Onboarding Dr. Christian Webel showed a live demo of the Pay As You Drive (PAYD) use case and explained the idea of automated loss notification in case of vehicle accidents through data measured by sensors.
Thanks to EMIL Group, the digital conference was very well organised!