Going Digital

Although insurtech will surely disrupt the industry, a key question is seldom asked: How can, and will, incumbents respond?

The customer will buy a total risk management solution that flexes to her needs month by month, day by day, hour by hour.

CRM was always a challenge in the past because insurers had only small numbers of interactions with their end customers.

Are we seeing accelerating growth from our innovation efforts, especially from large corporations? That is highly questionable.

For new entrants, blockchain will be at the core of their business model and operating model. For incumbents, it will be a "bolt-on."

Lemonade has brought simplicity, convenience and affordability where the existing offering is complicated, expensive and inaccessible.

As the abilities of cognitive/AI systems surpass those of humans, claims personnel will no longer be required by the Insurer of the Future.

After years of talk but little change, we may be starting to see some real evolution in insurer IT spending and planning.