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Doing business in the information age
On 7 October 2014, at London’s One Aldwych Hotel in Covent Garden, RDT and Celent jointly hosted a seminar to examine opportunities and goals for more efficient insurance in today’s information-rich digital world.
The event, attended by major insurers such as Zurich, Axa, Covea, RSA, LV, Markerstudy, Service, Direct Line and Sterling, focused on straight-through processing and the ground-breaking benefits of RDT’s insurer-hosted rating hub.
Craig Beattie, a senior analyst at Celent, delivered a presentation entitled: Agility in a Digital Market. He described how business models must evolve and adapt in response to the wealth of new media channels that are helping insurers to gather and share data across the marketplace. The challenge is the sheer volume of data: how do you create a true ‘internet of things’ that will enable insurers to access critical information and manage risks swiftly and efficiently?
RDT responded that they have the answer – a revolutionary insurer-hosted rating hub. The hub is a disruptive innovation, a technology that will reshape and improve the way insurers do business. In a presentation entitled Redefining the Rating Paradigm, RDT’s CEO Mark Bates looked at how RDT’s new platform will allow insurers to utilise vital market information and distribute products, thereby minimising fraud, shortening business cycles, and benefiting the honest end user.
Live since May 2013, the hub is the future of insurance distribution – now. Moreover, it has a wide range of potential uses beyond traditional insurance data.