Fadata

🌟 Moving Value from Claim to Earlier 🌟 In the current landscape of everything within our lives needing to add real value, policyholders are seeking more from their insurance than just coverage in times of need. They want value that enhances their daily lives, long before any claim is made. Where can insurers shift their focus to offer real-life, tangible benefits that truly add value to policyholders' lives? One example utilised within the health insurance sector - offering Apple Watches to policyholders. This not only benefits the policyholders by encouraging healthier lifestyles but also provides insurers with invaluable data. This data can be seamlessly integrated into underwriting processes, allowing insurers to offer personalised benefits throughout the policy lifecycle. Taking this further, we can consider: 🔹 Data-Driven Insights: The health data from Apple Watches can be used to tailor advice and recommendations, helping policyholders maintain and improve their health. 🔹 Rewards and Incentives: Policyholders can earn food vouchers, gym memberships, or other wellness-related rewards based on their activity levels and health metrics. 🔹 Premium Stability: By actively engaging with their health, policyholders can benefit from more stable or reduced premiums at renewal, reflecting their healthier lifestyle choices. By shifting the focus from merely processing claims to proactively supporting policyholders in their daily lives, insurers can foster deeper, more meaningful relationships with their customers. This approach not only enhances customer satisfaction but also promotes healthier, happier lives. How else can insurers add value to policyholders' lives? Let's discuss! 💬 #InsuranceInnovation #PolicyholderValue #HealthInsurance #CustomerEngagement #DataDriven #WellnessBenefits

🚀 Positive Value in Hyperpersonalisation 🌍 With ever growing pressures on individuals lives including economic, social and political, insurers have a challenge to make policies relevant and give benefits back to their policyholders away from just the point of claim. 💡 How? 💡 ✅ Create positive touchpoints throughout the policy lifecycle ✅ Embed insurance into purchasing journeys across different products and industries ✅Understand your customer and make it personal ✅ Create customer centric offerings that benefit policyholders daily lives As an industry we have a responsibility to reduce the protection gap across all product lines which in itself represents a huge opportunity. 💥 Be bold, Be brave and Challenge the existing.... 💥 #Hyperpersonalisation #Insurance #EmbeddedInsurance #Protectiongap

Let’s give a big round of applause to Fadata, a sponsor of Earnix Excelerate 2024! Their collaboration and support of Excelerate highlight their commitment to insurance innovation. See you all in London >> https://bit.ly/3VQeqVe #EarnixExcelerate #insuranceindustry #innovation

📈 Using Data to Hyperpersonalise 📊 Data, data, data... In the modern insurance landscape, policyholders demand more for their insurance policies that provide genuine benefit to their lives - so how can we address that? In order for this to work insurers need a modern core system that can collect, ingest and utilise data in its product offerings so policies can be created and provided that individuals actually want and meets their individual needs Instant value, instant benefit creating improved customer loyalty and longevity. 👨👨👦

SPECIAL REPORT: 🚨 As the true cost of Hurricane Beryl unfolds, Insurtech Insights talks to three parametric insurance experts about the increasing demand for solutions in our increasingly unstable climate. We get insights from Martin Hotz, climate risk leader and Head of Parametric Nat Cat at Swiss Re, Jaime Esteban Molina, Director of Product Management and Strategy, Fadata and Nelson Castellanos, Chief Partnerships Officer (International) at HDI Embedded. We discuss: ➡ Evolving parametric use cases ➡ Where parametric insurance is most in demand ➡ Pros and cons - the downsides of the solution ➡ The future of parametric innovation. Hotz says: "There has been a realisation in the market that while conventional insurance may be a good instrument to cover property damage and business interruption, NatCat events usually cause rippling effects, such as supply chain disruptions. As financial losses from nat cat events go beyond property damage and business interruption, parametric insurance plays an increasingly important role in fostering companies’ and society’s resilience by providing a quick payout and covering certain financial losses that otherwise would be uninsured.” Read the full report here: 👉 https://lnkd.in/eCewgkAi #insurtechinsights #parametric #climate #insurance #hurricaneberyl