In the InsurTech era, digital transformation has largely been understood as the refinement of front-office, point-of-sale capabilities. However, as insurers are finally catching up with how other industries do electronic commerce, the coming battlefield for insurance industry definition will be about data. Insurance is fundamentally a data-driven product, and the insurer that has the better data—and knows what to do with it—will be able to identify trends, design innovative products more quickly, and price risk better than the competition.

Becoming a data-driven business has been talked about for many years, “but now insurers face” an urgent imperative to execute on that promise. Business and technology executives know that data will drive competition, they are aware of some of the major technology areas that will be vital for success, but they struggle to identify which actionable steps can be taken to focus resources, set goals and ensure the continued outperformance of the competition.

In this one-hour webinar, moderated by Insurance Innovation Reporter Editor Anthony O’Donnell, sponsored by Willis Towers Watson and featuring Karlyn Carnahan, Head of North America Insurance Practice Celent and Serhat Guven, Managing Director, Willis Towers Watson, we will elaborate on four key steps for insurers to map their journey to becoming a truly data-driven enterprise:

1) Prepare your data environment
2) Create the right use cases
3) Implement and operationalize
4) Establish effective governance