Ecosystems

Insurers must apply unfamiliar skills – customer intelligence, speed and coordination – but can achieve benefits of scale without asset intensity.

Insurers must allow third parties to access their data and products and be present – and relevant – in customers’ digital ecosystems.

Insurers can build a sort of digital twin of the customer, then tailor their offerings and improve the customer experience.

AI will mean faster, better customer service that is cheaper for the carrier: Automation is a win-win with unstoppable momentum.

Ecosystems should produce key changes in two areas: how we touch customers and how we organize internal processes.

Insurers should emulate Uber, which has an ecosystem of 2,200 microservices. Here are three ways ecosystems provide a competitive edge.

Today, insurers succeed by offering products. In the future, insurers will win by providing access to risk prevention and assistance services.

More insurers now see ecosystems as an effective, flexible and capital-efficient way to grow the business and promote customer-centricity.