Running up that hill: How to win the 2030 insurance technology challenge

whitePaper | February 24, 2020

Commercial property insurance providers find themselves operating in unpredictable conditions, with political and economic uncertainty having negative impacts on business activity in almost every industry. The retail sector is under particular pressure, but there are also significant problems in the o-ice buildings market, as businesses postpone expansion or investment plans, and some consider relocating facilities outside the UK once (or if) the Brexit process is completed.

whitePaper | August 1, 2022

After enjoying healthy margins for several years, insurance organisations aren’t as profitable as they once were. McKinsey’s 2022 global insurance report finds that, after decades of stable returns, more than half of insurers now earn less than their cost of equity. Worldwide, around half of all listed insurance organisations have traded below book value over the past five years.

whitePaper | June 15, 2023

In 2018, a PWC industry report1 indicated that 44% of those surveyed did not believe existing insurers would survive in their current form. The industry is moving into an era called “Digital Insurance 2.0”2 and many insurers are struggling to keep up with its accelerating pace. The shift was born to support new technologies, processes and a market of predominantly Gen Z and Millennial customers. Digital Insurance 2.0 is centered on becoming more customer-centric across operations, people, technologies and processes.

whitePaper | May 9, 2022

The pace of change driven by digital transformation is rapidly increasing as new generations of agile competitors emerge. Insurance businesses, too, are evolving to keep pace with the latest business trends and update their products and services.

whitePaper | April 6, 2022

The impact of the COVID-19 outbreak has been devastating for the global economy, and with many countries in extended lockdown, there has been a seismic shift in customer behaviour and business operations.

whitePaper | August 20, 2021

COVID-19 brought sweeping implications for all industries, but nowhere more so than in the health insurance industry. And now, firms continue to face challenges on multiple fronts as they work to meet the expectations of both members and employees. At the peak of disruption, the focus was on ensuring business continuity. These days efficiency initiatives are cropping up as insurers adapt to the new normal.