This post is also available in:
Français (French)
While waiting for a meeting in the real world, I had the opportunity a few weeks ago of a telephone exchange with Eric Zeyl, founder of My data is rich. This solution is directly in the axis of what I have had in mind for some time, and especially following the work that I could lead around GDPR for insurance companies last spring.
Value proposition of My data is rich
The basic point of My data is rich is that the customer is not necessarily against sharing his data and giving access to third parties. However:
- He wants to be able to see them, to materialize them, to know what he gives access to
- He wants to control to whom he gives access
- He does not want us to be able to use the data against him.
Thus, My data is rich aims to become a trusted third party in the management of personal data in order to:
- collect, materialize and protect personal data on behalf of natural persons
- Anonymize these data to make them available to the market and sell them. In this model, 50% of the value generated is returned to the individual.
The first identified target concerns telematic data of vehicles. The first historical goal of My data is rich was to build a telematic data collection tool (GDPR compliant) with an on-off button.
However, the team perceived that it was necessary to go further, and to accentuate the position of trusted third party with a principle of data recovery mandate entrusted by its customers.
Thus, it is now possible to come to inform a set of data on the platform. These are then made available to various actors (for their market research, or the design of their offers) or advertisers for marketing targeting. These advertisers obviously do not have access to the email database, but they can, through My data is Rich offer targeted mailing on quality leads.
Perspectives
This value proposition is totally in tune with the times.
Most insurers (and players in the broader economy) are wondering how to get the most out of their customer data. This is done more or less discreetly and sometimes at their expense. My data is rich proposes to reverse the deal:
- The customer is and remains the owner of his data (in the sense of the approaches around the PIMS that we see begin to structure)
- A trusted third party plays the role of guard crazy (the FNTC is suddenly totally engaged!)
- Third parties, economic actors can access this grail of data provided that they prove that they wish to do so to bring value to the customer.
It seems to me, both personally and professionally, a healthy way of looking at things for the future and a responsive service offering that is aware of the issues ahead.
We can only wish them a rapid development!
To go further
If you enjoyed this article, why not take a look at our world insurtechs observatory?
If you want to discover future articles on the best solutions, trends and insurtechs of the moment, subscribe to our newsletter:
