Data Is Insuring the Future of Insurance Companies

A new breed of insuretech companies is connecting with customers online rather than through traditional brokers and agents. They offer a highly personalized, on-demand experience with individualized premiums and self-service claims management that’s more convenient and cost-effective for customers than traditional insurance.

Meanwhile, traditional insurance companies are struggling with legacy technologies, including mainframes, as well as distributed data. That’s why they’re quickly moving to the cloud. According in a survey of insurance leaders by Accenture, 70% said they have already done formal planning and analysis on moving legacy applications to the cloud. That’s why a growing share of IT budgets have been allocated to cloud services and technology.

But the cloud alone isn’t enough. To succeed, insurance companies must unify data from all their channels that may be scattered across multiple legacy systems as well as new digital applications. Without the ability to access and combine all this data in real time, delivering a truly modern insurance experience while assessing fast-changing risks can be an uphill battle.

Our eBook titled Insuring the Future Through Data explains how event streaming, an emerging technology for analyzing event data in real time, can help insurers compete with their insuretech peers. You will learn how combining event streaming from Apache Kafka® and Confluent with Google Cloud can help you:

• Create a digital and personalized experience
• Design innovative new insurance products
• Improve operational efficiency and reduce costs
• Manage risk by detecting fraud and improving compliance with regulations

Ready to insure your future? Read the eBook today.