Big Data is scary. That's the one thing that four people from very different professions agreed on during a panel at a Kenyon College political-science conference about technology's impact on privacy in the 21st century.
This is part two of research by guest author Amy Radin on the Life Insurance business. In Part 1 last week, Amy outlined the fundamental business issues behind the decline in Life Insurance and the white space opportunities this opens up for entrepreneurs. In today’s research note, Amy looks at 8 startups aiming at the white spaces.
Life insurers in North America are preparing for a dramatic shift in their use of big data and predictive analytics, according to a Willis Towers Watson survey. While many are just getting started, life insurers expect their use of big data and predictive analytics for decision making to soar dramatically within the next two years.
So far in our articles we have been pretty positive about all aspects of e-health, digital health, e-medicine, wearable devices, etc, and what these will bring. And of course Gary is a pretty enthusiastic Fitbit wearer. But there are a few potential ‘trip hazards’ with underwriting significance.
In the not-distant future, many of the regular things you use every day — your car, interior lighting, the clothes you wear — will link seamlessly to the Internet. This near-omniscient data connectivity has huge implications, and not just for how consumers live their lives.
Two in three life insurance companies responding to a LIMRA survey in the U.S. and Canada have implemented automated underwriting for at least part of their business and another 32 percent are in the planning stages of implementing automated underwriting, according to a new LIMRA study.
Wearable devices allow us to track levels of physical exercise. Being able to share fitness goals and achievements across social networks has fueled a boom in the market for gadgets such as smart watches and wristbands.