DATA REGULATION AND THE INSURANCE MARKET

DATA REGULATION AND THE INSURANCE MARKET

The Elena Rasa, Generali Chief Data Officer, speech at #SotN15

Link to her profile and to the event press kit

In the past years, three major disruptors have appeared in the most sophisticated industries: digital revolution, big data and analytics. Difficult to understand who was the starter of this new trend but for sure this is impacting everyone life! To make an example, data are becoming BIG because people connect to devices more and more, information collected through the Web are increasing with an exponential rate and the algorithms which are used to analyze them are becoming more and more complex. In addition to this, it is also true that most of such algorithms tend to be a real mystery for the final consumer and the majority of us would really like to know which data and for what reasons our information are collected.

Unfortunately, there is no regulation about which data can be collected from the Web for the so called “insiders” (Google, for instance), but the situation drastically change if this collection needs to be performed by other industries. To make an example, the insurance market can only refer to overall trends but, for privacy and ownership reasons, it would not be possible to connect one specific comment in Twitter to a given customer, stored in the portfolio.

So, while the profiling algorithms of customers surfing the Web is becoming “darker and darker” (for example, it is not clear why Google returns a different order of search results for one given customer in comparison with another person who is googling exactly the same thing), the remaining industries will have to rely on internal “structured” data, combined with allowed information coming from the Internet of Thing, including voices from the Blog!

Matteo Russo
Media Relations – Digital Media
russo@generali.com
Group Communication & Public Affairs
Assicurazioni Generali S.p.A.
P.zza Duca degli Abruzzi, 1
34132 Trieste / Italy
M. +39 3346367014

Caricato il 05/10/2015