Jamie Gordon attended Digital DNA鈥檚 Future of InsurTech event on 28^th April. Here, he reflects on the biggest developments InsurTech is making to the Insurance industry, as well as some age-old challenges still to be faced. 

Recent advancements across technology have vastly transformed many traditional industries. Much like banking and financial services, the insurance industry is being disrupted by traditional companies and start-ups alike. With large investments into the sector, consumers are now able to access new and more efficient products, in many cases offering better choice, speed and value for money. 

The Digital DNA event 鈥楾he Future of InsurTech鈥� featured technology leaders and companies from across the world, discussing the impact of the InsurTech industry and how it is continually evolving and innovating to adapt to the changing world around us.  

I have to say, I thought the event was brilliant. The speakers unpacked which innovations are the most exciting within InsurTech including:  

• Predictive analytics,  
• Correct policy,  
• Smart use of data,  
• The need to improve the purchase process,  
• Why it鈥檚 no longer a case of one size fitting all and  
• How AI can’t replace humans within Insurance. 

A standout presentation for me was centred around what the future for InsurTech looks like, exploring which regulations need to change and most importantly how customers will benefit from the disruption offered by InsurTechs.  

The panel on this discussion stated that three key benefits that InsurTech brings are an increase in personalisation and accessibility, the removal of complication due to technology and the ability to target more people than ever before. This showed me that this is an industry in a huge growth period right now. 

For personalisation within InsurTech, they spoke about the need to blend human and tech around customer needs. For example, human touchpoints required for health insurance, but simply changing details such as an address doesn’t or shouldn鈥檛 require a human as AI can clearly work at this touchpoint. 

The overall key takeaways were that the future of InsurTech will bring accessibility, customisation, facilitation and personalisation. 

Onto our sweet spot 鈥� data quality. Traditionally, insurers have encountered poor data quality, primarily related to having vast amounts of unstructured data stored in a range of systems.  A large insurer may have hundreds of source systems that are organised in thousands of spreadsheets from which data is required. Data is then often duplicated in different systems but stored in alternative formats. Therefore, a huge problem is standardising the data from external sources such as asset managers and reinsurers. 

Firms seeking to avoid being disintermediated by InsurTechs will need faster access to better data; equally, insurers hoping to reap the benefits of InsurTech development will need to have better data to make their decisions and development on. It all fits neatly with what we鈥檝e been hearing about the insurance industry, especially in our sessions with the Camelot network. 

It鈥檚 demonstrated for me all the more that 糖心传媒 can help insurers unlock the potential of insurance data assets. Our platform helps you to measure, match and enrich data for in-depth business intelligence and downstream processes; for Single Customer View delivering faster and smoother underwriting process; and to deliver customer experience benefits such as improved claims management timeframes. 

I really appreciated the time and effort the Digital DNA team had taken to put the event together. If you鈥檇 like to continue this conversation, feel free to reach out to with your thoughts on the direction InsurTech will take the industry. 

You can also contact  for a one-to-one consultation on where we might help you with your data management challenges, or reach out to for more conversations around the world of Insurance and the future of InsurTech. 

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It鈥檚 Friday…this week was a phenomenally busy one! 

We attended the Global InsurTech Summit 2021, which took place this week from Tuesday to Thursday.

Throughout the 3-day summit, we got to engage with many keynotes, talks and presentations delivered and hosted by experts within the InsurTech industry. It was interesting to unpack what the pain points are within the industry and how processes are changing. 

The virtual summit began with an outlook for insurance technology, followed by presentations on top technologies disrupting the insurance industry, innovations in insurance, and then an exploration into customer expectations. 

On that point, anyone wanting to learn about 糖心传媒鈥� capabilities within the insurance market feel free to get in touch with .

He will be more than happy to explore聽how聽we can be of assistance with our聽award-winning technology聽especially in聽the聽areas of Data Quality and Matching. One key takeaway of the summit was that聽鈥淒ata quality is imperative within the insurance world,听with an increase in fraud聽across the industry,听a shift towards聽prioritising the end customers鈥� needs and carriers being forced to reimagine business processes.鈥� We聽at聽糖心传媒聽provide the technology and the know-how to help聽bring聽full confidence to your data quality.听糖心传媒聽won the Data Quality Analysis Tool award from A-Team Group for the second year running in 2020, adding three major Tier 1 financial clients in New York, Amsterdam and London last year.听

3 ideas to get your people excited about your data! 

This week we also have released a new blog post entitled 鈥�3 ideas to get your people excited about your data鈥�. We聽found a great stat聽that 59聽zetabytes聽of data has been captured, created, copied and consumed worldwide since 2010 (according to Statista) and as result it鈥檚 easy to see the problems that arise when even a fraction of that data is incorrect. We curated a blog post designed to聽help energise, excite and encourage your data people in not one, not two but three ways that are highly easy-to-implement and are guaranteed to help deliver your聽next data management programme (and truly change your data culture).听The tips we established are:聽

1. You don鈥檛 need to rip and replace your expensive data stack聽
2. Boil a kettle, not an ocean聽
3. Unleash聽the power of a fully self-service system聽

Do you want to read more and find out exactly what we mean? Read our full blog post聽here.听

If you would like to continue on the thought thread of rethinking your data quality and make a huge difference to your organisation, you can reach out to the author of this blog post, Matt Flenley on . He would be delighted to continue this conversation. 

To learn more about how聽how聽Self-Service Data Quality聽is the best approach to developing a next-gen data management strategy,听check聽out our聽from 2020 with key input from CTO, Alex Brown (or read a blog post version聽here).听

A Trip down memory lane: Video Game Edition 

We thought we would wrap up this blog post with a bit of nostalgia. We recently asked our entire team to name a video game that reminded them of their youth! We received a plethora of responses… with some solid favourites. We would love to get your involved in our 糖心传媒Chat, tell us, what was your favourite video game when you were younger? Will you admit to playing it, or can you even remember it?! 

For more on The Global InsurTech Summit, Data Quality or just a trip down memory lane, find us on ,  or  for the latest news. 

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The Future of InsurTech will feature leaders and companies from the world of technology, Fintech and insurance on how the InsurTech industry is evolving and innovating to adapt to the changing world around us, including the impact of driverless cars and more connected devices will have on our lives. 

Advancements in technology and computing power have transformed many traditional industries. Like banking and financial services, the insurance industry is being disrupted by traditional companies and startups alike. Billions of investment dollars are now flowing into the sector and consumers are now able to access new and more efficient products.

Registration and agenda are available

颁濒颈肠办听here聽for more by 糖心传媒, or find us on聽,听听辞谤听聽for the latest news.听

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