Identify Unmet Market Needs through Data Analysis

Developing successful new products requires understanding gaps in the market and unmet customer needs. LLMs can analyze diverse data sources – including customer feedback, social media discussions, competitor offerings, demographic trends, and claims data – to identify emerging risks, underserved segments, or frustrations with existing products. These insights can spark ideas for innovative new insurance solutions. For example, analyzing forum discussions might reveal a growing need for specific cyber insurance coverage for remote workers.