Gartner Research

The Quantified Self Will Drive Digital Transformation in Life Insurance

Published: 14 June 2016

ID: G00303970

Analyst(s): Laurie Shotton

Summary

The quantified self offers life insurers opportunities to create new business models and to deliver new products and services based on user-supplied data. CIOs and IT and business leaders must begin working to understand this challenging new concept — or risk being left behind in the long term.

Table Of Contents
  • Impacts

Analysis

Impacts and Recommendations

  • The failure to evaluate the potential of the quantified self will place life insurance IT and business leaders at a long-term disadvantage in an increasingly competitive market
  • The quantified self offers life insurers' IT and business leaders an opportunity to adapt to new digital business models with insurtech offerings aimed at growing the business
  • The lack of clear evidence of the impact of behavioral improvements makes it difficult for life insurance IT and business leaders to identify and develop quantified self business cases that offer near-term benefits
  • A complex, rapidly changing device, application and data environment presents life insurers' IT and business leaders with significant technology challenges

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