TLDR:

• Insurers are using real-time data to enhance the value proposition for consumers.
• By collecting timely data, insurers can assess risk factors dynamically and offer more personalized products.

Article Summary:

In the dynamic landscape of insurance, the article discusses how insurers are harnessing real-time data to better serve consumers and enhance their value proposition. By integrating timely data, insurers can revolutionize their operations, offering personalized coverage options and more precise risk assessments to meet the evolving needs of consumers. The article highlights insights from industry experts, like Robert Lumley, co-founder of Insurtech Gateway, who emphasize the importance of collecting, analyzing, and utilizing real-time data to assess risk factors dynamically. This shift towards leveraging real-time data is set to allow insurers to offer modernized and efficient products that cater to consumer needs effectively.

The article also introduces the Professional InsurTech Certificate course, which offers professionals in the insurance industry a comprehensive exploration of Insurance Technology (InsurTech). Covering topics such as InsurTech fundamentals, adoption strategies, data analytics, customer engagement, claims processing, and emerging technologies like AI and ML, the course aims to equip professionals with the knowledge and skills needed to navigate the InsurTech landscape efficiently.