Insurance carriers’ fascination with disruptive technologies is similar to the telecommunications industry a decade ago, says Haden Kirkpatrick, director of research and innovation at Esurance. Only mobile carriers never made a move on big data, machine learning and IoT tools.
Before long Apple and Google had figured out how to make customer experiences smarter and monetized it. Insurers are now in danger of falling prey to the same fate thanks to usage-based insurance providers like Metromile and Kirkpatrick’s own company.
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