DIGITAL FRAGMENTATION FORCES INSURERS TO RESET GLOBAL GOALS

MICHAEL LYMAN | May 7, 2018

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Global insurers and other multinational corporations are having to take stock of their business strategies. They’re being compelled to rethink their plans because of the rise in international barriers to trade and commerce. These new restrictions are forcing multinationals to split and often replicate their digital assets and services. This digital fragmentation is costly and inefficient. What’s more, digital fragmentation is prompting plenty of corporations to have second thoughts about entering new markets. Seventy-four percent of the multinational companies we surveyed expect to delay or abandon entry into a new market in the next three years or will exit a market in which they’re currently active.

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Hartford Steam Boiler (HSB), a proud part of Munich Re, is a leading engineering and technical risk insurer providing equipment breakdown and other specialty coverages, inspection services and engineering consulting. HSB provides clients with risk solutions tailored to their needs and strategies to optimize the reliability, lifespan and efficiency of their equipment and operations.

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