# Insurance 2.0 Insurance systems become more data-driven and transparent. By [Vasiliki Marapas](https://www.trendhunter.com/Vasiliki.Marapas), Research Advisor & Writer | Published Dec 15, 2015 | Category: [Business](https://www.trendhunter.com/pro/category/business-trends) Source: Trend Hunter, https://www.trendhunter.com/protrends/insurance-20 ## Key Figures - Trend score: 2.9/10 - Evidence articles: 9 ## 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. ## At a Glance - Evidence: 9 featured examples - Articles from: Jul 18, 2014 to Nov 2, 2016 - Published: Dec 15, 2015 - Patterns: [Divergence](https://www.trendhunter.com/pattern/divergence) - Megatrends: [Simplicity](https://www.trendhunter.com/megatrend/simplicity), [Artificial Intelligence](https://www.trendhunter.com/megatrend/artificial-intelligence) ## Audience - Gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: North America, Europe, Asia ## Themes within the Insurance 2.0 trend ### 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. ### Biometric and Behavioral Insurance Tracking biometric data and driver behavior can lead to customized insurance rates and incentives for safer driving habits. ### 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. ## What the Insurance 2.0 trend means for industry ### For 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 for Insurance 2.0 Trend score 2.9 out of 10, from popularity 47%, activity 31%, freshness 8%. - Popularity: 47% - Activity: 31% - Freshness: 8% ## Examples of the Insurance 2.0 trend 9 featured examples from Jul 18, 2014 to Nov 2, 2016. - [Qualifying Car Rental Apps](https://www.trendhunter.com/trends/car-rental-app): 'Cruizing Club' Allows Users to Screen Renters Based on Driving History (Category: Autos) Implication: Disruptive innovation opportunity for car rental industry to incorporate apps that monitor driving habits and offer data-driven rental decisions based on renters' histories. - [Millennial Insurance Services](https://www.trendhunter.com/trends/millennial-insurance): Trov Insurance Lets Users Customize Plans to Fit Their Needs (Category: Business) Implication: 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. - [Health Insurance-Analyzing Platforms](https://www.trendhunter.com/trends/healthcare-plan): Collective Health Offers a Way to Manage Healthcare Plans (Category: Lifestyle) Implication: Health insurance providers can benefit from developing platforms that centralize benefits and streamline healthcare plans for consumers. - [Biometric Insurance Plans](https://www.trendhunter.com/trends/auto-insurance-plan): State Farm Will Create Custom Rates with Biometric and Automotive Data (Category: Autos) Implication: State Farm's biometric approach to auto insurance may disrupt the traditional insurance industry. - [Worker-Reported Health Apps](https://www.trendhunter.com/trends/cut-insurance-costs): FwdHealth Helps Companies Cut Insurance Costs With Their Workers' Data (Category: Tech) Implication: The adoption of worker-reported health apps creates opportunities for healthcare technology companies to develop innovative solutions for tracking and analyzing employee health da… - [Profile-Analyzing Car Insurance](https://www.trendhunter.com/trends/firstcarquote): Admiral's 'Firstcarquote' Analyzes New Drivers' Facebooks (Category: Autos) Implication: Admiral's Firstcarquote indicates a shift in the car insurance industry towards more personalized risk evaluation using data beyond driving history. - [Comparative Insurance Apps](https://www.trendhunter.com/trends/enroll-in-health-insurance): This App Empowers Young People to Enroll In Health Insurance Plans (Category: Tech) Implication: Insurtech companies that specialize in developing innovative apps, platforms, and marketplaces that aim to provide a more seamless and accessible insurance experience to customers. - [Driver Assessment Programs](https://www.trendhunter.com/trends/gm-onstar): CES 2015 Announces GM OnStar Will Start Tracking How Well Drivers Drive (Category: Autos) Implication: The automotive industry can leverage driver assessment metrics to promote safer driving practices and collaborate with insurance companies. - [Customized Insurance Apps](https://www.trendhunter.com/trends/health-insurance-quote): The 'QuotePad' App Lets Users to Get a Personal Health Insurance Quote (Category: Tech) Implication: Developing customized insurance apps and digitizing insurance processes can revolutionize the insurance technology industry. ## Recent trend clusters - [Assisted Conversion](https://www.trendhunter.com/protrends/ai-assisted-checkout) (Business) - [Occasion Commerce](https://www.trendhunter.com/protrends/occasion-commerce) (Business) - [Autonomous Merchandising](https://www.trendhunter.com/protrends/autonomous-merchandising) (Business) - [Assisted Choices](https://www.trendhunter.com/protrends/weight-loss-medication-support) (Lifestyle) ## Trending in Business - [Performance-Based Creator Ads](https://www.trendhunter.com/trends/creator-ad-platforms) - [MIami Pop-Culture Shirts](https://www.trendhunter.com/trends/miami-pop-culture-shirts) - [Natural Deodorant Expansions](https://www.trendhunter.com/trends/target-beauty-studios) - [Mini Beauty Stores](https://www.trendhunter.com/trends/little-luxuries-store) All articles: [Business](https://www.trendhunter.com/business)