How to Compete & Stay Relevant in the Digital Age

Seismic disruptions are rippling across the insurance industry

In first quarter 2019, over $1.4 billion was invested in InsurTech startup firms. What began as price comparison websites, called aggregators, has quickly grown to 310 InsurTech firms in the U.S. Experts are calling it a technology arms race.

The prevailing thought seems to be, adapt or become less relevant.

What do InsurTechs have in common? They have online raters and applications with no paperwork and little human interaction for consumers who want a more mobile experience. They are revolutionizing an industry that has not seen such digital enhancement in the past 100 years.

Differentiate yourself through value
Know your market and stay ahead of niches
Put the focus on coverage, not price
Evaluate, advise on complex risks
Provide coverage comparisons
Drive products to cover emerging risks

Seismic disruptions are rippling across the insurance industry

In first quarter 2019, over $1.4 billion was invested in InsurTech startup firms. What began as price comparison websites, called aggregators, has quickly grown to 310 InsurTech firms in the U.S. Experts are calling it a technology arms race.

The prevailing thought seems to be, adapt or become less relevant.

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