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RGI Group Newsletter

RISE UP TO THE TRA-DIGITAL

New technologies and digital innovation are growing fast and require Insurers to taste the potential and the disruption power of such evolutions on the business: just to name few examples, Big Data exploitation is not so far away from the current business models of many Insurers, as well as the ubiquitous computing and Internet of Things.

The insurance industry, driven by market forces and facing challenges, should catch the opportunities that come from the digital revolution.

Insurers are adopting omnichannel approaches and solutions to respond to the changing behavior of consumers who now use multiple channels for information, comparison, networking, and to buy products or services.

Multiple channels, mobile devices, IoT and wearables produce a boundless quantity of data, called Big Data that derive directly from the customers' input and output on such channels. Insurers know what Big Data are and how they could transform the business in innovative ways. In the near future, they will use Big Data for predictive models, analyzing current data and historical facts.

The huge capabilities of Big Data will allow insurance market to discover new market trends, customer preferences and other useful business information.

Data will help to better understand the customers' behavior in order to create tailored products and services on each specific needs and to identify potential risks and opportunities for Insurers thanks to data mining, statistical modeling and machine learning to help analysts make forecast future business.

The analytics and the predictive models can lead Insurers to more effective business management, new revenue opportunities, enhanced customer experience, improved operational efficiency, competitive advantages…

The 2015 RGI flagship event, "RGI Next – Back to the Future", will deal with these new trends and will show how these innovative technologies, that were already during the last events have been tangibly implemented on RGI assets.

Concrete solutions that can help Insurers to create the basis for the complete evolution of the company towards the digital transformation.

This is because future should start in some point, and we do believe that there is no better day than today to make it happen.

Let's explore the digitalization in the insurance market and analyze how technology can assist Insurers in adopting a truly digital strategy that will allow them to face this massive revolution.

Enjoy!

Elena Pistone
Corporate Marketing & Strategic Partnerships Director

Source: RGI