Cristina — Visual Designer

 

The future of insurance

Illustration made for Raconteur, an independent
publication distributed in ‘The Times’.
Published on July, 2016

Role: Art Direction, Illustration 

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Insurers have shared risk information since the 18th century. But today the vast experience of the insurance sector cannot be harvested for analysis because the market is a modern Babel through its reliance on multiple incompatible data schemas. Insurers receive risk data in thousands of incompatible formats with 148 insurers, 242 brokers and 4,389 agents in the network of trading parties in Lloyd’s and London Market.

With an estimate of 388,000 risk and claim bordereaux being shared between these parties each year, the amount of disparate data is growing exponentially. With no common standard applied across the market, the number of data schemas is vast, and this incompatibility makes it nearly impossible for companies to test insuretech systems quickly and efficiently.

 

Inspiration

Keywords from the article:
ecosystem, infrastructure, connection,
market, data, network, integration.

 

 

 

Escher

 

Connections

 

 

 

 

Infrastructure

The market is a modern Babel through its reliance
on multiple incompatible data schemas

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Updated: July 2018