The HNW market is in a relative state of flux. A normally steady and reliable area is experiencing capacity reduction, rate increases and an evolving client profile.
All of which could, in theory, open the door for technology and those wielding it to come in and disrupt this most traditional of markets. Although there are direct offerings in this space, most notably with Direct Line and Hiscox, there does not appear to be any risk of HNW clients making a dash for online insurance.
New technologies could help brokers and insurers operating within the HNW space, but the market may not be ready yet for a technological makeover.
This article focuses on why for the wealthiest in our society, service and security still seem to be winning out over speed and convenience.