Growing need for data security is spurring innovation

The need to keep data secure is growing in lockstep with the amount of data collected by institutions. This business necessity is a catalyst for innovation.

“Data is the new oil” is a claim that is frequently declared in the banking and insurance sectors. A few months ago, I had the opportunity to interview Jean-Marc Pailhol, Head of Global Strategic Partnerships at Allianz Group. He used that same comparison to highlight how important data is to insurers and how at their core, insurance companies are data companies. They are constantly using customer data to deliver more accurate, responsive, and curated offerings.