Life and health insurance companies face two seemingly opposing market pressures: attracting and retaining more customers through innovation and customized offerings, and cutting costs by increasing operational efficiency. Digitization—collecting data from wearable devices and other sources—plus advanced predictive analytics on that data can help meet these challenges and increase an insurance ...company’s competitive edge.
In this paper, we first explore how biometric data and predictive analytics can change the nature of risk assessment, operational management, and the consumer engagement and services delivery model. We then look deeper into the solution architecture of the COVALENCE? Health Analytics Platform from Big Cloud Analytics, powered by Intel? technology. Using this information, insurance companies can take the next step toward unleashing the power of biometric data and predictive analytics.