The insurance industry is at a tipping point. A next generation of insurer is emerging, disrupting traditional business models. Their approach is different: instead of looking in the rear-view mirror for how things have been done before, they are looking forward, breaking down the core elements of insurance and reinventing them from scratch.
Next-generation insurers have learned the importance of customer experience and speed of service from Bigtech. They understand that the proper application of technology and information can define success or failure in today’s digital world.
Traditional insurers must adapt to this disruption … or risk being completely displaced from the marketplace. However, getting there won’t be easy.
Designed for insurance executives who want to emulate the growth and success of agile, digital-native competitors, this guide explores eight traits of next-generation insurers and what holds traditional insurers back from emulating their success.
• How next-generation insurers are reinventing traditional insurance products and services.
• How these challengers leverage modern technology to drive customer experience improvements by unlocking more information and using it faster.
• How traditional insurers can confront legacy systems and legacy thinking to mitigate risk and ensure successful modernisation efforts.