Data governance

Vendor will provide insurer with an automated cloud-based platform offering portfolio data, accounting entries and reporting tools.

Individual state guidelines, dating back as far as the 1800s, cater to old paper-driven market, not a digital world where insurtechs produce data in real-time, says former NAIC president.

While keeping up with regulatory changes remains a big challenge, insurers are focused on cybersecurity and IT risk at high levels.

Jon Colello, president and head of underwriting, advises carriers to focus on technologies and partnerships reducing data sharing costs.

SVP Jerry Gupta notes the emerging technology has increasingly been used in distribution and claims straight-through processing.

The reinsurer is set to offer life and health clients the startup’s mobile-based musculoskeletal rehabilitation program for policyholders.

The usage-based insurance startup believes that driving frequency is a crucial data point for carriers.

The ability of modern tech entrants to analyze insurers' large data sets is a key part of their value propositions.

Insurance companies can help consumers stay informed on risks to lives and property, evolving them into life-coaches.

Insurer’s personal insurance unit is looking to develop lasting relationships with startups in big data, AI and more.

Many organizations struggle with an overwhelming amount of threat information, coupled with a lack of staff expertise to analyze it.

Several varieties of produce aren't covered by the initiative because the risk growers face is unclear.

The industry has a way to go in fixing the underlying information challenges needed to respond to regulatory requests and to innovate, says Michael Atkin.

Carriers are starting to recognize scientists focused on behavior, speech and social networking will be valuable in the long term as new data sources emerge.

Not all data insights generate value to an organization, and some can be downright counter-productive.

Nearly half of organizations are adding these professionals to payroll, but perhaps even more sought-after is the CDO.

But most firms are focused on just having an artificial intelligence capability rather than one that adds real value, Gartner says.

The vast majority of stakeholders see administrative waste as a cause of poor communication.

New entrants can benefit from a fresh technology start, say three prominent startup CEOs.

Many organizations complain of inaccurate information, a dearth of expertise among in-house analysts and a shortage of skilled workers.