New white paper!
The insurance industry is moving at three speeds today. Insurtechs are moving at hyper-speed, innovative incumbents at medium speed and the rest of the industry at very slow speeds. At the same time, the insurance markets, grounded in the ongoing changes in the users’ needs and expectations, are moving at hyper+ speeds
For some reason, most incumbent insurers accept this, arguing that the insurance industry is heavily regulated, that they’re stuck with legacy IT systems and a rigid organizational structure not capable of moving fast. They’re contempt with a decent online presence while they carefully watch their near-field competitors to make sure the competition does not get (too far) ahead
For most incumbent insurers, this creates a blue ocean opportunity as they have something newly-founded Insurtech companies do not; customers. If an incumbent insurer could create a fast-moving digital unit, this unit would immediately be tapping into a base of existing customers thereby suggesting a very fast return on investment as well as significant opportunities for conquering market share from the competition
Download the full white paper here (7MB):
#readyfortomorrow, #frederikbisbjerg, #insurtech, #digitaltransformation, #businessdevelopment, #valuechain, #bisbjerg, #disruption, #businesstransformation