If you are an insurer, ask yourself this question: Are your customers sharing data with you? (If you aren’t you probably are customer of insurance, so just ask it the other way around.) Most likely, the answer is “not if they don’t have to”.
Why is that the case? Is it generally privacy concern? Don’t customers trust insurers with their data? Do they see too little benefit in sharing? Or is sharing data on a regular basis simply too much hassle?
These are the questions our latest IBM Institute for Business Value insurance study sought to examine. In “Data: Gold or Kryptonite? An insurer’s guide to the resource of the future” we surveyed close to 16,000 consumers across 24 countries and 4 industries, insurance, retail, auto and consumer electronics. We wanted to know what makes customers willing (or less willing) to share data with their providers in insurance and compared to the other industries. Some of the findings:
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