How well do insurers listen to customers who know what they want

Customers for insurance don't have many complex requirements. They wish to have access to a wide range of plans at affordable pricing. They desire easy, hassle-free interactions as well as clear, transparent information. They anticipate their insurers to assist in reducing their stress rather than escalating it when they are filing a claim following an accident, theft, or injury, which is frequently a moment of high worry. More and more, insurance customers want their insurers to offer extra services like roadside help and lifestyle guidance. Points of discussion 1. It is clear that insurers perceptions are often unequal to the realities of consumers. There seems to be a huge gap in what consumers wants and what insurers think their consumers want. How to do you see this changing in the coming days. 2. Instead of delivering excellent after-sale customer support, the industry traditionally, placed more emphasis on selling the coverage. The fact that insurers knew far more about risks, insurance was ideally sold rather than bought. How do to see technology changing this to bring consumer experience forward to drive better purchase decisions. 3. Consumer sentiment, is an essential parameter in insurance. And you being in the data science field, how do see data helping insurers to understand consumer sentiments? Also, can you quote an example from your organization like the Sentimeter product that you have developed for insurers. Speaker Bo: Dr. Nilesh Karnik, is the Chief Data Scientist at Aureus Analytics. Dr. Nilesh is responsible for development of algorithms and mathematical models that power Aureus platform and products and help large organizations with advanced analytics solutions. From the academic side, Dr. Nilesh’s PhD made a substantial contribution to the theory of Type-2 Fuzzy Logic Systems and his work is widely referenced in the industry. While busy developing the next big statistical model, Dr. Nilesh can be found looking for interesting audio books on life and related things.