Insurtech
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REPORT
FORRETNINGS-IT

World InsurTech Report 2019

Collaboration between insurers and InsurTechs is key to address customer demand for add-on services, personalization, and flexible offerings

The World InsurTech Report outlines a new insurance ecosystem with an open marketplace, based on the development of new customer-centric experiences, a structured selection of InsurTechs, and a collaborative go-to-market. Key findings include:

Four fundamental shifts in the industry are underway

The report outlines that the industry is evolving in four different ways:

  • A shift from product focus to customer experience: 70% of insurers and InsurTechs said a focus on holistic risk solutions for customers was critical to establishing a future-state insurance marketplace.
  • The evolution of data as a critical asset: 70% said advanced data management capabilities are critical.
  • A transition from asset ownership to a shared economy: more than 35% of insurers and InsurTechs have already realized that focusing on shared ownership of assets is critical.
  • Partnerships with specialists over the traditional “Build or Buy” approach: 90% of InsurTechs and 70% of incumbents said they want to collaborate with each other. Both insurers and InsurTechs have a hearty appetite for collaboration with other sectors, such as healthcare providers and players from the travel, transportation, and hospitality space.

 

View the full report here

 

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Contact
  • Maria Søndergaard
    Maria Søndergaard
    Director, Market Segment East
    +45 52189297