Insurance is at a turning point. Senior leaders, whether they are incumbent insurers or brokers, or InsurTechs, need to have a comprehensive vision for how the industry is being reshaped by emerging technology and trends. With this understanding, they can chart their companies’ strategy and course in an industry whose digital capabilities are maturing rapidly.
This report is designed to provide insurance leaders insight that can help shape a key part of that vision. It provides an inside look into how innovation leaders from incumbents and InsurTechs see the opportunities and challenges in moving innovation forward and where they are investing to do so. It highlights the need for, and the momentum gathering behind, the symbiotic relationship between insurers and InsurTechs in creating a digital generation of the industry, Digital Insurance 2.0.
Every insurance leader must become intimately familiar with the models, solutions and trends being driven by InsurTechs. Though not perfected yet, they are the shape of the customer centric, digitally connected ecosystem that the industry is to become.
In this report you will find insights into both why your company’s future depends on innovating your business model, processes, products and services, and how you can accomplish this. The key is understanding the experiences, viewpoints, priorities, successes and failures of InsurTech Innovators up to this point. In so doing, you will find opportunities to adopt and adapt some of their thinking and approaches, as well as opportunities for potential partnerships, unique solutions to complex operational issues, access to new customers and markets, and more.
Take the insights from this report back into your Executive staff, strategy, innovation, product and partnering teams. Ask them to discuss the impacts on the industry and their own plans for the next 12-18 months, and how this will impact your ability to remain competitive 18-24 months out. The future of insurance holds incredible opportunities for those companies that can think innovatively and act quickly. Be sure your company is one of them.
Whitepaper provided by:
Majesco are sponsoring the 'Delivering digital transformation' stream at TINtech London Market on 5th February 2019.