Insurers, Big Data and Changing Consumer Behavior

It’s not about having data, but what to do with it, right? Recently, someone suggested a new life insurance product to test out what would be a better fit for me than the traditional product I already had. The catch was that this new program would utilize the big data on my smartphone, connected devices and actually tracked my lifestyle, rather than relying on standards and doctors reports. True to my geek nature, I leaped at the chance to test this out.

While this program is not the first of its sort, technological maturity is starting to permeate where these devices are at hand, and the data is actually accessible. It’s becoming practical for both the insurer and the consumer. And as many ...

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