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A new wave of disruptive digital technologies has broken and insurance carriers cannot ignore the opportunities and threats that this brings.
Those that win the race to transform into digital insurers will find opportunities to disrupt their existing markets as well as to drive new revenues and profits in industries and customer segments where they have not traditionally competed. Those that don’t get out of the starting blocks quickly enough will be outrun by more aggressive insurers—and they may also lose market share and profits to tech companies, automotive manufacturers, and other companies pioneering emerging technologies that undermine the traditional insurance business model at its foundations.
The choice is a stark one: become a disrupter or...
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