Distribution

The insurance industry needs to “dare to think big” and make more sweeping transformations, says author and futurist Chunka Mui.

The life insurer has built a foundation of data to power next-generation partnerships, says chief digital officer Greg Baxter.

The life and annuity insurer is banking on accelerated, data-driven underwriting in a strategic shift inspired by the proliferation of insurtech companies in its vertical.

Although most insurers have a running start at digital transformation, most do not have the capacity to partner with the likes of an Amazon.

Rather than facing a simpler tech environment where the investment choices are obvious, it appears the insurance industry is at a point of inflection where the old established world may have to give way to the new.

The insurer will be able to roll out new mobile and desktop distribution platforms quickly by bringing its key partner closer, it says.

Coverage gaps will become common as less people are reached to buy insurance through traditional channels.

Sid Gandhi will lead the insurer's digital, IT and business technology teams to boost customer experience.

The insurtech offers crowd-sourced insurance ratings for consumers looking to purchase homeowners, renters or car insurance policies.

Rather than looking to innovate on products, startups in life insurance concentrate on distribution as a way to improve the sector, say Accenture panelists.