Disrupting insurance: data-driven customer value

Disrupting insurance: data-driven customer value

Why hasn’t the insurance business been disrupted yet, and how could data be used to do this? Atidot has a go at addressing those questions.

Insurance is big business. Life insurance in the US alone amounts to a total value of life direct premiums of US$ 552.51 billion by a total of more than 800 companies. It’s also a business that seems like a natural match for big data applications, as some of its core functions like estimating customer value and using various channels to reach out and interact with them can be tied in to a multitude of data points and produce yet more data to be fed back into the process.

Surprisingly, there seems to be a lack of data-driven products targeting this market. According to Dror Katzav, CEO of Atidot, it’s a sort of catch 22 as the volume and complexity of data that is relevant for the domain make it hard to approach. That is precisely what Atidot is out to address: their goal is to bring data-driven decisions in the insurance industry.

Atidot just launched their SaaS solution, initially focusing on life insurance. The use cases they primarily address at this point are centered around customer value.

Atidot collects and integrates data that can help estimate customer value for insurance companies, and uses that data to generate customer value projections. Building on that, it helps insurance companies formulate and execute different strategies.

Read the full article on ZDNet

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