Analytics

It is no surprise that insurers are looking to health tracking technology to create new possibilities for accurate pricing and incentivizing better living.

By facilitating access to rich, unstructured data in real-time, technology is paving the way for insurers to employ greater personalization and become customer-centric. It can drive tremendous growth opportunities as well as cost and operational efficiencies by promoting wellbeing and prevention services.

Globally, 72% of respondents said they would share some personal data with their insurer but when broken down by gender, only 68% of women and 75% of men said they would share.

Consumers still trust established traditional insurance companies over newer insurtech startups. A majority of respondents said they would prefer to buy a policy from companies like AIG over startups like Lemonade.

Inside the near-term tech plans for the multiline insurer.

More homes that had been excluded due to wildfire risk are insurable with more granular data, company says.

Ramnik Bajaj is the company's new SVP and chief data and analytics officer.

As this happens and expense ratios are driven down, only those carriers which can fully utilize analytics and data-augmented decision making in their underwriting process will be able to price effectively in the market.

Also: New data hire at Amerilife, European expansion at Insurify.

Touchless digital insurance has become a base requirement for business as people demand touchless transactions.