Data: gold or kryptonite?

An insurer’s guide to the resource of the future

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Executive overview

Authors: Peter Maas

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, Associate Professor of Management, University of St. Gallen,
Lee-Han Tjioe

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, Vice President and Consulting Partner, IBM Global Business Services,
Christian Bieck

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, Global Insurance Leader, IBM Institute for Business Value

Data is the premiere resource Data is at the heart of an interconnected world. One of the major reasons intermediaries are still the most powerful insurance distribution channel is that they are the gatekeepers of information: They generally know their customers best, better than the insurer itself. But the traditional insurance agent is slowly disappearing. In a digital world, insurers need to collect data themselves, which means their customers must be willing to share this valuable resource. How can insurers make this happen? Data from a recent IBM Institute for Business Value global survey of consumers points the way: Insurers need to increase trust, create benefits and make sharing easy.

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