Category
Business
Assisted Conversion
Trend cluster
Category
Insurance
2.0
Insurance systems become more data-driven and transparent.
2.9
Trend score
Trend
What is the Insurance 2.0 trend?
Insurance 2.0: Insurance plans are becoming more customized according to factors such as ability and effort, thanks to tracking systems that collect personal data. Consumers are willing to forego privacy if it means a pricing model based on merit, rather than seemingly arbitrary characteristics. Data collection has ultimately enabled brands to be impartial and equitable, factors which are highly valued by consumers.
Trend themes
Themes within the Insurance 2.0 trend
Three behaviours holding the trend together01
Data-Driven Insurance
Customized insurance plans that are tailored to personal data and tracked through wearables and mobile apps are creating a fair and equitable insurance landscape.
02
Biometric and Behavioral Insurance
Tracking biometric data and driver behavior can lead to customized insurance rates and incentives for safer driving habits.
03
Insurance Comparisons and Managing Platforms
Innovative healthcare management platforms and insurance comparison apps make it easier for consumers to shop around for the best rates and manage their insurance plans.
Industry implications
What the Insurance 2.0 trend means for industry
Where the trend changes the playbookFor
Insurance Technology (Insurtech)
The insurtech industry is focused on disrupting the traditional insurance space by offering creative and innovative uses of data for customized insurance plans that cater to the needs of modern consumers.
For
Automotive Industry
The automotive industry is being increasingly influenced by data-driven solutions, from tracking driver behavior to creating customized insurance plans that are based on driving history.
For
Healthcare Industry
The healthcare industry is being transformed by innovative platforms that make it easier to manage health plans and offer customized insurance plans for individuals.
Workshop question
How well does your brand customize its offerings based on consumer information? If that were your number one focus, how would that change your strategy?
Trend signals
Trend signals for Insurance 2.0
Trend score 2.9 out of 10, from popularity 47%, activity 31%, freshness 8%.
Popularity47%
Activity31%
Freshness8%
Audience
50%Men
50%Women
- Gen Alpha (not a primary audience)
- Gen Z
- Millennial
- Gen X
- Boomer
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Insurance 2.0 trend
9 featured examples from Jul 18, 2014 to Nov 2, 2016CategoryAutos
Qualifying Car Rental Apps
'Cruizing Club' Allows Users to Screen Renters Based on Driving History
Disruptive innovation opportunity for car rental industry to incorporate apps that monitor driving habits and offer data-driven rental decisions based on renters' histories.
CategoryBusiness
Millennial Insurance Services
Trov Insurance Lets Users Customize Plans to Fit Their Needs
The insurance industry can leverage Trov's on-demand service to cater to the needs of Millennials who are seeking customizable and flexible insurance plans.
CategoryLifestyle
Health Insurance-Analyzing Platforms
Collective Health Offers a Way to Manage Healthcare Plans
Health insurance providers can benefit from developing platforms that centralize benefits and streamline healthcare plans for consumers.
CategoryAutos
Biometric Insurance Plans
State Farm Will Create Custom Rates with Biometric and Automotive Data
State Farm's biometric approach to auto insurance may disrupt the traditional insurance industry.
CategoryTech
Worker-Reported Health Apps
FwdHealth Helps Companies Cut Insurance Costs With Their Workers' Data
The adoption of worker-reported health apps creates opportunities for healthcare technology companies to develop innovative solutions for tracking and analyzing employee health da…
CategoryAutos
Profile-Analyzing Car Insurance
Admiral's 'Firstcarquote' Analyzes New Drivers' Facebooks
Admiral's Firstcarquote indicates a shift in the car insurance industry towards more personalized risk evaluation using data beyond driving history.
CategoryTech
Comparative Insurance Apps
This App Empowers Young People to Enroll In Health Insurance Plans
Insurtech companies that specialize in developing innovative apps, platforms, and marketplaces that aim to provide a more seamless and accessible insurance experience to customers.
CategoryAutos
Driver Assessment Programs
CES 2015 Announces GM OnStar Will Start Tracking How Well Drivers Drive
The automotive industry can leverage driver assessment metrics to promote safer driving practices and collaborate with insurance companies.
CategoryTech
Customized Insurance Apps
The 'QuotePad' App Lets Users to Get a Personal Health Insurance Quote
Developing customized insurance apps and digitizing insurance processes can revolutionize the insurance technology industry.
