The link between Suarez & the future of insurance companies
A story about technology impact on the insurance industry
Full article by @bartmuskala on medium.com
How big is your risk to get bitten by Suarez?
for me it’s low, living in Belgium,
not a footbal l player (not even an amateur)
risk to get bitten by Suarez in %Chiellini’s risk was way higher
yours mine Timmy Simons
Giorgio Chiellini
100%
50%
75%
25%
And statistics are looking bad…Suarez biting incidents plotted on a timeline
April 2010
March2013
June2014
time
Really bad…Suarez biting probability
April 2010
March2013
June2014
January2015
estimated next biting incident, based on statistics
time
incident probability
Statistics have strange effects…
““There are three types of lies — lies, damn lies, and statistics.”Mark Twain, author of ‘The Adventures of Tom Sawyer’ & ‘Adventures of Huckleberry Finn’
in other words: don’t use ‘em
Why do insurers use them?Dummy… how can they calculate individual risk?
a random non footbal l image
btw, this is Chiel lini
Today individual risk calculation is possibleConsider health insurance risks…
Jawbone Up, Fitbit, Nike’s Fuelband, Sony’s Smartband and many other wearables
collect health data
Apple’s HealthKit API, Samsung’s SAMU and
Google’s Fit Platform collect (and share back) all data
Biometric sensors like Apple’s TouchID collects up to 300 fingerprints (and thus bio data) on average per day
Textiles are produced with built-in sensors for
background processing of temperature, sweating, …
Today individual risk calculation is possibleOr car insurance risks
Cars share data wirelessly with your smartphone like speed, braking, cornering,
acceleration and others
Smartphone’s built-in GPS, gyroscope & accelerometers calculate similar data with
lesser bias than before
The Google Car will never crash again. I gues it’s
Google who will be needing the insurance in the future.
A car has more sensors today than a Boeing airplane, measuring hundreds of
parameters at once
“As personal risk calculation is possible, individualised policies can be created.Just us saying so… but wouldn’t you agree?
What are you waiting for?
btw, this is not real but for 5.000 views
we’l l make it happen ;-)
Head over to www.knowyourrisk.to & read the full article
Or if you’re an insurance company
we can make other apps as wel l !
Let’s discuss opportunities technology offers for you today
“Btw… Good luck tonight to all Suarez’ team mates and the Colombian opponents.Let’s keep it an honest game. No biting, gentlemen!
Read the full article on medium.com by @bartmuskala,
founder of True North, a marketing innovation hub, infusing a challenger mindset to help organisations of today
stay relevant in the world of tomorrow. !
True North is part of DuvalUnion, a marketing technology ecosystem helping organisations to get ahead in the New Normal, the world of
marketing in which technology is at the core.