Rethinking insurance

How cognitive computing enhances engagement and efficiency

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Executive overview

Authors: Sandip Patel

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, Global Managing Director for Insurance, IBM,
Christian Bieck

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, Global Insurance Leader, IBM Institute for Business Value

Scaling human expertise With premium growth stagnant, declining income and disruption from outside players, insurers are looking more than ever for better ways to increase efficiency and get closer to the customer. As the cognitive era dawns, outperforming insurers are rethinking insurance: applying cognitive technologies that understand, reason, learn and interact can improve the way insurers do business. Sixty-nine percent of those surveyed in 2016 describe their organizations as prepared to adopt cognitive computing. At the core, data – internal and external, structured and unstructured, real time and historical – will power and differentiate cognitive systems.

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