Data ownership

There is a clear business case for democratizing – or said more plainly, broadly sharing – data across an enterprise. If we responsibly open up data while working to mitigate the potential risks, there can be meaningful payoffs for our customers and companies.

Digital Insurance spoke with Brett Jurgens, the CEO of Notion, a DIY smart home monitoring company, which is owned by Comcast, about how Notion works with insurers and what benefits smart home monitoring has for policyholders.

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

Only 32% of 2,750 U.S. consumers surveyed by the company in fall 2021 had been offered telematics-based insurance, the company said. Of those that were offered, 49% took the offer, and 64% have stuck with it.

Goal is to use more third-party data to make it easier to sell BOP to more categories of small businesses.

There will be many new data sources and tools available, increasing exposure to cyber risk in the world.

Across the industry, carriers report that basic third-party data capabilities are common and that pilot activity is high.

The American Association of Insurance Services will launch the openIDL to share data between carriers and regulators.

The insurer gets access to data from participating auto manufacturers, including Mitsubishi.

Survey finds 62% of those ages 18 to 34 would let carriers use third-party data from social, fitness apps and smart-home devices to lower prices

The EU's General Data Protection Regulation will require firms to get consent to use personal data in automating decisions.

Carriers have to take care to clearly communicate the value of collecting more data from consumers.

Facebook CEO faced grilling from lawmakers over the company's stewardship of customer data.

Automating manual processes and insurers' growing use of technology are two leading factors behind the change, detailed in a new three-year innovation plan released by the organization.

The growth in digital transformation efforts is driving the need for more CDOs. Forrester Research looks at how strategy, governance and execution separate the best from the rest.

The life insurer’s LifeScore Labs division is ready to make its data tool available to other carriers in the space.

Insurer's chief data officer says the goal was to increase scalability and automation of mission-critical information.

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

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.