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Milano Finanza Digital Experience Week, insurance in the era of the Internet of Things

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Milano Finanza Digital Experience Week, insurance in the era of the Internet of Things
08 June 2018
Milano Finanza Digital Experience Week, insurance in the era of the Internet of Things

The 3rd edition of Digital Experience Week came to a close yesterday. The event was organised by Milano Finanza, the leading newspaper in economics and finance dedicated to digital financial services.
The Director of Insurance Analytics & Business Architecture of the Cattolica Assicurazioni Group, Luigi Barcarolo, spoke at the festival, which was attended by over 40 sector experts between 4 and 7 June.
Central to his speech were some of the themes previously dealt with during the presentation of the 2018-2020 Business Plan, including the use of data and connectivity to improve customer service. In a context in which technology is a means and not an end to bring companies and customers closer together, connectivity plays a fundamental role. It allows for users’ needs to be intercepted as they appear, enabling a new model for the insurance company from classic damage/settlement and prevention/protection, to product suppliers and insured party partners.

As described by Luigi Barcarolo, an important initial step in this direction was taken by Cattolica with the launch of Active Auto, a modern and flexible connected car product based on smartphone technology that can be easily installed by users. It allows a driver in trouble to receive help in real time, in a simple and efficient way. Active Auto is a clear demonstration of how Cattolica is leveraging data and connectivity in order to build an ecosystem of benefits around its customers in a win-win perspective that also sees third parties involved as partners and can provide added value to the end customer.

Other examples of customer service technology that Cattolica is developing include paperless reports, which can also facilitate the automated management of some claims types, leading to better customer experience and improved process efficiencies. Thanks to the help of artificial intelligence algorithms, the Company is developing a system that can quantify some types of damage by using the telematic and photographic data analysis of the damaged vehicle. The benefits of this solution are manifold: reduced time frames and lower costs in claim management, customer satisfaction, and growth of the overall level of service.