#TECHVISION2020 There is a delicate balance that needs to be struck. For example, a commercial customer might Mapfre in Spain, meanwhile, has launched a spin-off digital platform called Savia to enable people to appreciate advice about how it can reduce claims across its fleet, when it is based on aggregated data. take control of their own and their families’ health. Users can use chat or video to contact healthcare It may not welcome its premium being adjusted according to the times of the day its vehicles are on the professionals, store personal information in a secure cloud, and access pay-per-use medical services. road or the routes it uses. And in personal lines, using telematics to track and gamify driving behavior Users can purchase a single service or buy a subscription plan. The plans can be activated and 18 across a family may come across as intrusive and creepy. deactivated on demand, with no contracts or cancellation fees. The new imperative for enterprises is to reposition themselves from an administrator to an enabler and Insurtechs and incumbents alike are also launching on-demand auto, home, life and personal liability a guide. For instance Assurance IQ, a direct-to-consumer life insurance platform in the US, uses data products that offer more flexible terms than the products of old—enabling customers to pick and mix science and machine learning to speed up applying for and purchasing personalized health, life, the cover they want, how long they want it, and when they want it. The Toggle brand from Farmers home, and auto solutions from over 20 providers. Insurance, in the US, for example, offers renters’ insurance for young adults that gives customers the 19 freedom to toggle different elements of coverage up, down, on or off at any time. Prudential Financial last year agreed to acquire Assurance IQ for $2.3 billion, with an additional earnout of up to $1.1 billion. The insurer plans to offer its own financial wellness solutions on the Assurance platform alongside those of third-party providers. The idea is to create a new end-to-end engagement 17 model for “customers who want to shop on their own terms, when, where and how they want.” Technology Vision for Insurance 2020 | We, the Post-Digital People 17