Understanding customers and risk: Your cognitive future in the insurance industry

To thrive amid the disruptive forces, insurance leaders must be smarter in how they approach data. While the digital age has brought a massive amount of data brimming with potentially useful insights for insurers, such as social media conversations, insurers still struggle to unlock its full value.

Advances in the pioneering area of cognitive computing can help bridge the gap between data quantity and data insights. Cognitive-based systems can build knowledge, understand natural language and provide confidence-weighted responses.

This report examines current and future applications and provides recommendations for those seeking a cognitive journey. The report also offers insights from insurance executives who understand that the potential for cognitive to push the current boundaries of innovation and growth is immense. These leaders recognise the potential to transform insurance - and are set to exploit cognitive capabilities to do so.