Description: The old adage 'insurance is sold not bought' has been used to dismiss digital insurance and support the old agent model of distribution. However, modern distribution systems address this with personalization. This is not simply a customized application form based on age or gender. Personalization is much more dynamic and happens in real-time. It's about tailoring the end-to-end experience to meet the needs and expectations of the specific applicant. The core tools to achieve this are AI learning and nudges from behavioral science.

Description: New digital data known as alternative data is everywhere. Our industry has seen the financial, and hi-tech industries leverage new digital data to expand their key offerings and core services. From the lens of the global life and health industry, new digital data is still searching to be further understood. Risk assessment is a current focus area for using alternative data. A key question is even though risk assessment has always been data-driven, can it now move to the next level with the arrival of this alternative data. Can we use alternative data to make the risk assessment process quicker, cheaper, or faster thereby driving more sales and better conversion rates. It is an exciting time! With the increased adoption of health and well-being apps, data such as physical activity, nutrition, sleep, and mental wellness is now readily available. Expanded data such as digital biomarkers, IoT data, electronic health records and many more can also be accessed. However, how to effectively implement alternative data remains a challenge across the industry. We firmly believe it is, and will continue to be, imperative to take a structured approach to alternative data through a set of key considerations and a framework of principles.