Reading this article reminds me of the importance of combining technical and business knowledge in order to achieve successful solutions, especially in my own field of Data & Analytics. As the piece shows, Atos has the raw building blocks in IoT, but without the knowledge of how to apply that knowledge to a specific business problem, where would they start? There follows a successful partnership with Jacobs, demonstrating the vital collaboration between the market and technical know how.
IoT for insurance was always one of the original use cases with the advent of Telematics putting it firmly on the map. One area where we are seeing a lot of traction is in vessel location data which offers significant scope for savings for both premium renewals and claims management. The ability to deliver such bespoke solutions to our clients is precisely what drew me to set up a new Data & Analytics practice here at Charles Taylor InsureTech, where I am uniquely placed to draw on both deep insurance knowledge and the very best in technical expertise. The relationship between technical and business knowledge will define the future success of insurance.
The move appears to make eminent sense in a space where technical strength alone is insufficient and highlights the significance of the Industrial Internet of Things (IIoT) opportunity and the criticality of deep industry understanding as a key source of differentiation in this nascent, if busy and complex competitive arena.