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Putting a new partner in people's pockets


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Mobile technology to transform insurance industry according to new report. Find out more here:

This is an EIU report sponsored by SAP.

Published in: Technology
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Putting a new partner in people's pockets

  1. 1. USAA, a Texas-based firm that serves military personnel, must support clients wherever they are deployed, making mobile services vital. In 2013 it logged: If they succeed, mobile data will let insurers offer new, personalised services to educate people about their risks and how to mitigate them, which will reduce losses for everyone. © The Economist Intelligence Unit 2014. All rights reserved. Putting a new partner in people’s pockets have ever connected with their insurer via mobile, according to an EIU survey. of insurance executives polled by the EIU believe mobile has unique capabilities with the potential to change the insurance business. 590mmobile interactions 350monline interactions Insurers will need to allay customer concerns about the collection and use of their personal data and demonstrate the benefits. 76- 87% of consumers express concern about mobile data privacy and security. 110mvoice calls of insurers are collecting data on policy risk plan to do so within three years. Despite these concerns, and another Mobile technologies are forging new links between insurers and their policyholders. 26% But only 32% 33% Insurers will also be able to offer traditional insurance products in new ways, including “on-demand” coverage. In partnership with Japanese telecom company NTT Docomo, Japanese insurer Tokio Marine & Nichido Fire sells “One-Time Insurance” products, purchasable anytime and anywhere via mobile devices. Docomo recommends travel insurance at airports, golf insurance at golf courses, and sports and leisure insurance at ski resorts. 62%