Pat Speer

The complicated system of data collection, and identification of risk exposure is predicated on having accurate information about the subject (who) and the object (what).

Farmers and other carriers are engaging and empowering their customers’ self-service lifestyle and thirst for real-time access to information.

Because they are limited in both budget and resources, smaller carriers need to be more nimble and pivot quickly when needed.

Claims applications for the technology are opening new opportunities beyond just usage-based insurance programs.

Culture matters in making a shift to digital, says Dr. Balaji Krishnamurthy, who was cited by TIME magazine as one of 25 key Global Business Influencers.

Effectively securing this valuable data requires a high level of diligence on behalf of carriers and their partners.

Many carriers face major roadblocks when it comes to finding the right skills and talents for digital adoption.

Bryce Austin, who was Target’s CISO during the retailer’s infamous data breach, says carriers need to be sure their partners are just as secure as they are.

Though these carriers may be tempted to make incremental changes to save resources, bigger moves are recommended.

The industry isn't as reticent to adopt new technologies as it has been viewed, but its patience has advantages with quickly evolving segments.