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Dataiku assurance - june 2013

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A presentation about data disruption in insurance by Florian Douetteau (co-founder at Dataiku) during our event "Barbares Attaquent" at TheFamily, where we zoom in one industry disrupted by the barbarians from Silicon Valley.

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Dataiku assurance - june 2013

  1. 1. Data disruption for InsuranceA Perspective From the Digital World?
  2. 2. Data Disruption
Basics6/6/13 Dataiku2
  3. 3. 6/6/13Dataiku 3DataikuWe help peoplebuild their datalab2013
  4. 4. 6/6/13Dataiku 4Why a data lab ?Personalize for Survival+ Sale Price- Buy Price-  Discount-  Advertising Costs-  Indirect Advertising Costs-  Search Optimization Costs-  Cloud Marginal Costs+ Recurrence+ Loyalty ?-----------Predicted Deal Value+ Sale Price-  Buy Price~ SEO-----------MarginSimple Funnel Model Multiple Contact Points ModelE-Commerce 2001 E-Commerce 2013
  5. 5. }  New Team }  New Tech}  New “M” Paradigm◦  Let the machine decide,not the meeting6/6/13Dataiku 5Data LabBusiness Guy Data ScientistTech Guy
  6. 6. Is your data lab ready ?6/6/13Dataiku 6Can you bring in …What is your ability to integrate a newsmart guy and give him anydata he would need and any computingpower he would need to enhanceyour product ??
  7. 7. 6/6/13 Dataiku7Insurance is already data driven
  8. 8. Data Usage Evolution6/6/13Dataiku 8LinearGeneralizedLinearModelCART
MARS 
Neural NetworksPricingBusinessScopeModelComplexityDataScopePricingUnderwritingRetentionPricingUnderwritingRetentionFraudRecruitmentInternalInternalDemographicsAgency DataInternalDemographicsAgency DataOpen DataReal-Time Flow1990’s 2000’s Soon
  9. 9. How do you combine data ?6/6/13Dataiku 9DATAPrice ScoreRetention ScoreAffiliate ScoreRisk Score…Combine atthe strategicor individuallevel ?
  10. 10. What is your practice w.r.t Churn ?6/6/13Dataiku 10DataProfitabilityAnalyticsKey DriversStrategic ObjectivesMarketing PlansEnhance ScorerEffectMeasurement1 year ? 5 years ?
  11. 11. Acquire, Manage, Releaseeach customer individually,throughout his life and keyevents}  Gather all relevant data,even partial or inaccurate}  Share methods andalgorithms between CRMand Risk Analytics}  Run Global A/B Tests.Don’t decide fromreports.Churn: The Digital Way6/6/13Dataiku 11New HouseNew Girlfriend?Phone+MailCampaignLiked “Vodka”On FacebookNew CarSpecific RiskDetectedBirthDeathMobile InfoTravel To China?New Girlfriend?New CarChange BankDiscountOfferingSpecificRiskDetected
  12. 12. From Evolution to Revolution
  13. 13. 6/6/13Dataiku 13Online Advertising Revolution
October 23, 2000Large Amount of User Data Product AbilityNew Business Model Data Processing And Predictive Capabilities
  14. 14. 6/6/13Dataiku 14Impact
  15. 15. 6/6/13Dataiku 15Insurance TelematicsNew Services New Product DeliveryNew Business Model Data Processing and Predictive CapabilitiesPerformance Monitoring+ Theft recovery+ Performance+ Oil SavingsProgressive (2011):2 billions miles of data
  16. 16. Progressive (Snapshot) - State Farm- AllState (DriveWise) - Nationwide(SmartRide) - Hartford (TrueLane) -Esurance (DriveSense) - State Farm(Ford Sync) - CSE (Save) - Elephant(DriveIQ) - Dtric (Akamai) - MetroMile - Insure The Box - ….Car Insurance Telematics:
From 1997 to 2013 and beyond …6/6/13Dataiku 16Source: ABI Research, “Insurance Telematics”, Q1 2012
  17. 17. 6/6/13Dataiku 17
  18. 18. 6/6/13Dataiku 18
  19. 19. 6/6/13Dataiku 19
  20. 20. 6/6/13Dataiku 20User Based Insurance
Next : Health ?KyruusFind the most efficientdoctor for each patientValidicConnect mobilehealth appsPractice FusionFree, Web-BasedElectronic Web RecordsToday: Data Generation
Health Digitalization StartupsTomorrowPersonalized Insurance ?Patient drivenplatform to share onlineinformation with physicianLinked-in for physicians
  21. 21. 6/6/13Dataiku 21Insurance 2020 :
Water Leakage Insurance ?Boston Chronicles,18 April, 2018Housing leader House Corp©is offering a new waterleakage insurance service.This service will be offeredto every customer renting anew flat through the website, and will gatherinformation from …Data fromHouse Sensors / 
Product SensorsWater ConsumptionWeatherInternal TemperatureProduct / Image Analytics
  22. 22. Washington Post,3 April, 2019Online Dating ServiceMeetMatch© is offering amarriage insurance as partof its new premium service.This new service will start at5€/month, with a rateevolving throughout yourlifetime, depending …6/6/13Dataiku 22Insurance 2020 :
Marriage Insurance ?Data fromFacebookWeb SearchOnline ProfileDivorce History…..
  23. 23. 6/6/13Dataiku 23
  24. 24. 6/6/13Dataiku 24Online Advertising Revolution
October 23, 2000Large Amount of User Data Product AbilityNew Business Model Data Processing And Predictive Capabilities
  25. 25. 6/6/13Dataiku 252013
Display Advertising / PlatformsData Management Platform (User Data) AdNetworks (Distribution)AdExchange Audience OptimizersADVERTISINGSLAVIA
  26. 26. 6/6/13Dataiku 26In 10 years:
Assurance as a platform ?Collect Customer Data Pricing and Product ConceptionUnderwriting andDistributionRisk Analytics As A Service
  27. 27. 6/6/13Dataiku 27User Based Insurance in 10 years: 
Who will…DriiveCollect Customer Data Pricing and Product ConceptionUnderwriting andDistributionRisk Analytics As A Service
  28. 28. 6/6/13Dataiku 28Thank you !@fdouetteauhttp://www.dataiku.com

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