The disruptive environment in which insurers find themselves today brings to mind Steve Jobs’ saying: “Innovation distinguishes between a leader and a follower.” Innovation, of course, can be applied to almost any functional business area, and it doesn’t always directly involve technology. But at present, technology is certainly leading the way.
In fact, much of insurers’ progress to date can be tied to new technologies, such as machine learning, artificial intelligence, geolocation technologies and, of course, digitalization. And much of the effort behind new technologies comes by way of innovative start-ups, fresh companies often from outside the insurance industry. The challenges, opportunities and benefits of working with these market entrants are profound, and even though innovation is considered a top priority, its value via start-ups and market entrants remains relatively untested among the majority of carriers.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access