Step On The Box

Innovative Strategies for Insurers

We are looking for:
Students in the field of Data science, IT, and Business

15 available
Registration deadline
11 Sep 2024
18 Sep 2024
Coolsingel 120, 3012 AG Rotterdam, Netherlands, Onsite
1. Description of the challenge

The Association of Insurers faces the challenge of developing innovative strategies that enable insurers to prevent more damages preventively across various domains, such as auto insurance, property insurance, business insurance, and cyber insurance. The focus is on identifying and implementing proactive measures that reduce the frequency and severity of claims while increasing customer satisfaction and the value proposition of the insurances. Solutions should encompass both technological and non-technological approaches and should not focus on health-related issues.

1. Identify potential risk factors and vulnerabilities within different insurance domains.
2. Develop innovative and personalized risk management and damage prevention strategies.
3. Integrate advanced technologies such as IoT (Internet of Things), big data analytics, artificial intelligence, and machine learning to identify and mitigate risks.
4. Create incentives for insured parties to actively participate in preventive measures.
5. Enhance communication and education around preventive measures for both insured parties and intermediaries.

2. Expected outcome

1. Effectiveness: Reduction in the number of damage claims and/or amounts over time.
2. Customer Satisfaction: Increased satisfaction of insured parties through proactive approaches and improved service.
3. Innovation: Use of cutting-edge technologies and new approaches to damage prevention.
4. Scalability: Ability to apply developed strategies on a large scale within the insurance sector.
5. Sustainability: Long-term impact on reducing risks and damage claims while maintaining profitability for insurers.

About Verbond van Verzekeraars

The Dutch Association of Insurers is the advocacy group of damage and life insurers in the Netherlands. The Association represents the interests of its members and links them to the interests of society. More than 95 percent of all Dutch insurers are members of the Association. We have set the course to develop ourselves into an Open platform: A platform that connects insurers, stakeholders and organizations from both inside and outside of the sector. Together we want to create added value for customers, learn from each other and find answers to challenging issues that affect us all. Think of the impact of technological developments and data. Society is data driven and this also applies to the insurance sector. Also, industry expansion, changing customer behavior and social themes such as sustainability are very relevant. We take on the challenge of making everyone aware of the importance of a well-functioning insurance market: indispensable within the insurance sector and for society as a whole.