IoT & Chatbots - a rich data trove

Aditya Mall, Appointed Actuary at Future Generali India Life Insurance reveals new opportunities in insurance and the enablers:

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Aditya Mall sees opportunities in the gig economy which represents a growing segment that requires flexible income protection and health coverage

Ravi Lalwani: What new types of data are you using in formulating products?

Aditya Mall: At Future Generali India Life Insurance, data-driven innovation underpins our approach to product design analytics. By integrating advanced AI tools, behavioral analytics, and data from wearable health devices, we craft highly personalized solutions that align with individual customer needs. For example, insights from wearable technology help us develop offerings tailored to preventive healthcare, ensuring relevance and engagement. Additionally, psychometric profiling and predictive analytics enable us to anticipate customer preferences, ensuring our products resonate across diverse demographics. This approach reflects our commitment to simplicity, transparency, and customer-centricity in insurance design.

What are the sources of these data types? What is their reliability?