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Insurtech and Customer Services: Lessons for the Incumbents

By:
, Published: Jan-2017
Report Code: VF00108IA    Report Format: Electronic PDF

Description


The emergence of insurtech has been fueled by new digital capabilities and Internet of Things (IoT) devices that are reducing costs, changing systems and processes, and enhancing the consumer experience. From an industry burdened by outdated systems and paper-based operations, the insurtech space has emerged as one of the largest innovation ecosystems globally in 2016, and is set to modernize the industry in the years going forward. It has taken a while for banks and insurance firms to fully embrace fintech innovation, due in part to the amount of legacy systems in place, the heavy dependence on historical data, and the low risk appetite for new insurance-related products at most traditional firms. However, rapidly changing customer behavior, the availability of smart devices, and innovation ecosystems achieving scale provided the industry with a much-needed push in 2016 (and beyond) to adopt insurtech in a huge way.

Reasons to Buy

  • - Gain a detailed insight into the insurtech space.
  • - Discover how insurtech is benefitting mainstream providers, and also the potential limitations.
  • - Be informed of the insurers investing in the technology and those looking to develop new digital/tech-based propositions.