Allowing third parties to access business data will provide far more detailed information so brokers can more easily determine what insurance products are needed.
In addition to pointing businesses in the right direction for products, the data could help a business manage a claim more efficiently. Businesses could load information onto a smartphone app and send it directly their insurance company.
Data from insurance could also feed into further business assessments. For example, the data may determine how environmentally friendly a business may be. It can look at details of the purchases made in the bank accounts and recommend changes for better practices.