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Dataiku assurance - june 2013

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TheFamily
TheFamily

A presentation about data disruption in insurance by Florian Douetteau (co-founder at Dataiku) during our event "Barbares Attaquent" at TheFamily, where we zoom in one industry disrupted by the barbarians from Silicon Valley.

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Data disruption for Insurance A Perspective From the Digital World ?
Data Disruption
 Basics 6/6/13 Dataiku2
6/6/13Dataiku 3 Dataiku We help people build their datalab 2013
6/6/13Dataiku 4 Why a data lab ? Personalize for Survival + Sale Price - Buy Price -  Discount -  Advertising Costs -  Indirect Advertising Costs -  Search Optimization Costs -  Cloud Marginal Costs + Recurrence + Loyalty ? ----------- Predicted Deal Value + Sale Price -  Buy Price ~ SEO ----------- Margin Simple Funnel Model Multiple Contact Points Model E-Commerce 2001 E-Commerce 2013
}  New Team }  New Tech }  New “M” Paradigm ◦  Let the machine decide, not the meeting 6/6/13Dataiku 5 Data Lab Business Guy Data Scientist Tech Guy
Is your data lab ready ? 6/6/13Dataiku 6 Can you bring in … What is your ability to integrate a new smart guy and give him any data he would need and any computing power he would need to enhance your product ? ?
6/6/13 Dataiku7 Insurance is already data driven
Data Usage Evolution 6/6/13Dataiku 8 Linear Generalized Linear Model CART
 MARS 
 Neural Networks PricingBusiness Scope Model Complexity Data Scope Pricing Underwriting Retention Pricing Underwriting Retention Fraud Recruitment Internal Internal Demographics Agency Data Internal Demographics Agency Data Open Data Real-Time Flow 1990’s 2000’s Soon
How do you combine data ? 6/6/13Dataiku 9 DATA Price Score Retention Score Affiliate Score Risk Score … Combine at the strategic or individual level ?
What is your practice w.r.t Churn ? 6/6/13Dataiku 10 Data Profitability Analytics Key Drivers Strategic Objectives Marketing Plans Enhance Scorer Effect Measurement 1 year ? 5 years ?
Acquire, Manage, Release each customer individually, throughout his life and key events }  Gather all relevant data, even partial or inaccurate }  Share methods and algorithms between CRM and Risk Analytics }  Run Global A/B Tests. Don’t decide from reports. Churn: The Digital Way 6/6/13Dataiku 11 New House New Girlfriend? Phone+Mail Campaign Liked “Vodka” On Facebook New Car Specific Risk Detected Birth Death Mobile Info Travel To China? New Girlfriend? New Car Change Bank Discount Offering Specific Risk Detected
From Evolution to Revolution
6/6/13Dataiku 13 Online Advertising Revolution
 October 23, 2000 Large Amount of User Data Product Ability New Business Model Data Processing And Predictive Capabilities
6/6/13Dataiku 14 Impact
6/6/13Dataiku 15 Insurance Telematics New Services New Product Delivery New Business Model Data Processing and Predictive Capabilities Performance Monitoring + Theft recovery + Performance + Oil Savings Progressive (2011): 2 billions miles of data
Progressive (Snapshot) - State Farm - AllState (DriveWise) - Nationwide (SmartRide) - Hartford (TrueLane) - Esurance (DriveSense) - State Farm (Ford Sync) - CSE (Save) - Elephant (DriveIQ) - Dtric (Akamai) - Metro Mile - Insure The Box - …. Car Insurance Telematics:
 From 1997 to 2013 and beyond … 6/6/13Dataiku 16 Source: ABI Research, “Insurance Telematics”, Q1 2012
6/6/13Dataiku 17
6/6/13Dataiku 18
6/6/13Dataiku 19
6/6/13Dataiku 20 User Based Insurance
 Next : Health ? Kyruus Find the most efficient doctor for each patient Validic Connect mobile health apps Practice Fusion Free, Web-Based Electronic Web Records Today: Data Generation
 Health Digitalization Startups Tomorrow Personalized Insurance ? Patient driven platform to share online information with physician Linked-in for physicians
6/6/13Dataiku 21 Insurance 2020 :
 Water Leakage Insurance ? Boston Chronicles, 18 April, 2018 Housing leader House Corp© is offering a new water leakage insurance service. This service will be offered to every customer renting a new flat through the web site, and will gather information from … Data from House Sensors / 
 Product Sensors Water Consumption Weather Internal Temperature Product / Image Analytics
Washington Post, 3 April, 2019 Online Dating Service MeetMatch© is offering a marriage insurance as part of its new premium service. This new service will start at 5€/month, with a rate evolving throughout your lifetime, depending … 6/6/13Dataiku 22 Insurance 2020 :
 Marriage Insurance ? Data from Facebook Web Search Online Profile Divorce History …..
6/6/13Dataiku 23
6/6/13Dataiku 24 Online Advertising Revolution
 October 23, 2000 Large Amount of User Data Product Ability New Business Model Data Processing And Predictive Capabilities
6/6/13Dataiku 25 2013
 Display Advertising / Platforms Data Management Platform (User Data) AdNetworks (Distribution) AdExchange Audience Optimizers ADVERTISINGSLAVIA
6/6/13Dataiku 26 In 10 years:
 Assurance as a platform ? Collect Customer Data Pricing and Product Conception Underwriting and Distribution Risk Analytics As A Service
6/6/13Dataiku 27 User Based Insurance in 10 years: 
 Who will… Driive Collect Customer Data Pricing and Product Conception Underwriting and Distribution Risk Analytics As A Service
6/6/13Dataiku 28 Thank you ! @fdouetteau http://www.dataiku.com

More Related Content

Dataiku assurance - june 2013

  • 1. Data disruption for Insurance A Perspective From the Digital World ?
  • 3. 6/6/13Dataiku 3 Dataiku We help people build their datalab 2013
  • 4. 6/6/13Dataiku 4 Why a data lab ? Personalize for Survival + Sale Price - Buy Price -  Discount -  Advertising Costs -  Indirect Advertising Costs -  Search Optimization Costs -  Cloud Marginal Costs + Recurrence + Loyalty ? ----------- Predicted Deal Value + Sale Price -  Buy Price ~ SEO ----------- Margin Simple Funnel Model Multiple Contact Points Model E-Commerce 2001 E-Commerce 2013
  • 5. }  New Team }  New Tech }  New “M” Paradigm ◦  Let the machine decide, not the meeting 6/6/13Dataiku 5 Data Lab Business Guy Data Scientist Tech Guy
  • 6. Is your data lab ready ? 6/6/13Dataiku 6 Can you bring in … What is your ability to integrate a new smart guy and give him any data he would need and any computing power he would need to enhance your product ? ?
  • 7. 6/6/13 Dataiku7 Insurance is already data driven
  • 8. Data Usage Evolution 6/6/13Dataiku 8 Linear Generalized Linear Model CART
 MARS 
 Neural Networks PricingBusiness Scope Model Complexity Data Scope Pricing Underwriting Retention Pricing Underwriting Retention Fraud Recruitment Internal Internal Demographics Agency Data Internal Demographics Agency Data Open Data Real-Time Flow 1990’s 2000’s Soon
  • 9. How do you combine data ? 6/6/13Dataiku 9 DATA Price Score Retention Score Affiliate Score Risk Score … Combine at the strategic or individual level ?
  • 10. What is your practice w.r.t Churn ? 6/6/13Dataiku 10 Data Profitability Analytics Key Drivers Strategic Objectives Marketing Plans Enhance Scorer Effect Measurement 1 year ? 5 years ?
  • 11. Acquire, Manage, Release each customer individually, throughout his life and key events }  Gather all relevant data, even partial or inaccurate }  Share methods and algorithms between CRM and Risk Analytics }  Run Global A/B Tests. Don’t decide from reports. Churn: The Digital Way 6/6/13Dataiku 11 New House New Girlfriend? Phone+Mail Campaign Liked “Vodka” On Facebook New Car Specific Risk Detected Birth Death Mobile Info Travel To China? New Girlfriend? New Car Change Bank Discount Offering Specific Risk Detected
  • 12. From Evolution to Revolution
  • 13. 6/6/13Dataiku 13 Online Advertising Revolution
 October 23, 2000 Large Amount of User Data Product Ability New Business Model Data Processing And Predictive Capabilities
  • 15. 6/6/13Dataiku 15 Insurance Telematics New Services New Product Delivery New Business Model Data Processing and Predictive Capabilities Performance Monitoring + Theft recovery + Performance + Oil Savings Progressive (2011): 2 billions miles of data
  • 16. Progressive (Snapshot) - State Farm - AllState (DriveWise) - Nationwide (SmartRide) - Hartford (TrueLane) - Esurance (DriveSense) - State Farm (Ford Sync) - CSE (Save) - Elephant (DriveIQ) - Dtric (Akamai) - Metro Mile - Insure The Box - …. Car Insurance Telematics:
 From 1997 to 2013 and beyond … 6/6/13Dataiku 16 Source: ABI Research, “Insurance Telematics”, Q1 2012
  • 20. 6/6/13Dataiku 20 User Based Insurance
 Next : Health ? Kyruus Find the most efficient doctor for each patient Validic Connect mobile health apps Practice Fusion Free, Web-Based Electronic Web Records Today: Data Generation
 Health Digitalization Startups Tomorrow Personalized Insurance ? Patient driven platform to share online information with physician Linked-in for physicians
  • 21. 6/6/13Dataiku 21 Insurance 2020 :
 Water Leakage Insurance ? Boston Chronicles, 18 April, 2018 Housing leader House Corp© is offering a new water leakage insurance service. This service will be offered to every customer renting a new flat through the web site, and will gather information from … Data from House Sensors / 
 Product Sensors Water Consumption Weather Internal Temperature Product / Image Analytics
  • 22. Washington Post, 3 April, 2019 Online Dating Service MeetMatch© is offering a marriage insurance as part of its new premium service. This new service will start at 5€/month, with a rate evolving throughout your lifetime, depending … 6/6/13Dataiku 22 Insurance 2020 :
 Marriage Insurance ? Data from Facebook Web Search Online Profile Divorce History …..
  • 24. 6/6/13Dataiku 24 Online Advertising Revolution
 October 23, 2000 Large Amount of User Data Product Ability New Business Model Data Processing And Predictive Capabilities
  • 25. 6/6/13Dataiku 25 2013
 Display Advertising / Platforms Data Management Platform (User Data) AdNetworks (Distribution) AdExchange Audience Optimizers ADVERTISINGSLAVIA
  • 26. 6/6/13Dataiku 26 In 10 years:
 Assurance as a platform ? Collect Customer Data Pricing and Product Conception Underwriting and Distribution Risk Analytics As A Service
  • 27. 6/6/13Dataiku 27 User Based Insurance in 10 years: 
 Who will… Driive Collect Customer Data Pricing and Product Conception Underwriting and Distribution Risk Analytics As A Service
  • 28. 6/6/13Dataiku 28 Thank you ! @fdouetteau http://www.dataiku.com