Every single day, more than a billion active users share their thoughts, photos, news, videos, memes, and more with friends and connections on Facebook. With data from current accounts, bankers know what their customers eat, where they buy their clothes and what they get up to online. In today and tomorrow’s world (personal) data is becoming increasingly available and easily shared due to the digitalisation of our day to day interactions. 

In this world, every digital interaction is becoming a transaction as new kinds of value - such as personal data, (access) rights, attention and reputation - form the basis of new business models. Being present in or getting access to the customer’s day to day digital interactions will drive future business. “Open Insurance” business models in open collaborative ecosystems with customer control over data will be key in the transformation of insurance companies to increase customer relevancy, reduce costs and remain compliant. 

At INNOPAY, we help insurers to navigate these evolving open ecosystems.

 

 

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