The consumer first and foremost but then who? The insurer that can extract the information to plan and price products and incorporate in digital platforms that manage the whole insurance and claim process.

Those that can't exploit these new platforms and engines risk losing business to innovative insurance providers or new entrants targeting this specific market. We have already seen Tesla enter this market.

Ingesting Video and Photo is already an integral part of some insurance provider's claims management process. 

See "Allianz harvesting digital dividend"

Expect to see machine learning that ingests and identifies good and bad driving behaviour from telematics data and video submitted by claimants and witnesses. 

Digital platforms like 360Globalnet will combine and let claims handlers & fraud investigators analyse:-

  • telematics and video/photo data
  • Including meta data when accessible
  • claims notification form data including unstructured text
  • Data from core systems of record
  • additional information e.g. 
    • Claims handler requesting this from claimant
    • Data & time stamped in single digital record
    • Including live video streaming from investigative interviews
    • Building complete picture for claims acceptance or deccline
  • Building complete picture for better decision making

The power lies with insurance carriers and brokers to exploit these digital transformation technologies to support goals and strategies. 

They are in pole position unless they delay and allow usurpers to disrupt the market.