This document outlines how new data sources like sensors, weather, and social media can enable new insurance products and services with flexible pricing models and individualized offers. It also discusses using customer data to better understand customers and provide personalized advice through chatbots. The document proposes using predictive analytics for underwriting, risk assessment, and claims handling to partially automate processes and enhance customer service through 24/7 support and mobile capabilities.

2. Marketing, Product
Development
Customer Acquisition
Underwriting &
Pricing
Sales & Support
Claim
Management
• New products &
services
empowered by
new data sets like
sensor, weather,
social media
• Flexible pricing
models
• Individualized
product offers
• Know your
customer (intent,
personality,
profile, life events
etc)
• Personilized
access to
insurance advice
(chatbots)
• Self service
capabilities
• Compare and
purchase options
• Predictive
underwriting
• Semi
automation of
underwriting
• Fact based risk
assessment
(machine
learning)
• Insurance as a
service
• 24*7 contact
center agents
(Bots& human)
• Intelligence
guidance to
navigate
healthcare
ecosystems
• Mobile
submission and
payments
• Semi
automation of
claim handling
• Counter fraud
predictive
management
Insurance Value Chain