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TINtech London Market 2022 Data & Analytics report

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TINtech London Market 2022 Data & Analytics report

A summary report of the data and analytics session at TINtech London Market 2022, sponsored by Guidewire.

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Summary

On February 8th 2022 more than 200 insurance industry executives attended TINtech London Market, the sector’s leading technology strategy event. This report summarises the data and analytics session that was sponsored by Guidewire and featured a presentation from Saki Thethy, Head of Data and Market Relationships at Miller Insurance on ‘Overcoming data integration challenges to improve the client experience’.


Key questions to ask

Data is fundamental to both the London market itself, and to each individual organisation that makes up the market, and he outlined key questions to ask when devising and implementing a data strategy, including asking yourself if your use cases for data are “defensive or offensive”, where defensive use cases are contexts in which data accuracy is essential – for example regulatory requirements, centralised reports or data that feeds into a single ‘golden record’ – as opposed to use cases where actionable insight is the priority – so predictive analytics, commercial applications and federated applications of data.

 

Saki described what he sees as a shift in organisations from the defensive to the offensive, but that a common pitfall is trying to do both without being clear around the differences between the use cases, and prioritising accordingly.  

 

For example, starting with automating some defensive use cases like regulatory and more standard reporting that have to be very highly governed or under centralized control - and accordingly you really need your data quality to be of a very high standard – and fortunately, a lot of that can be automated with the right technology and the right approaches.

Once this is achieved it is possible to ...

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