Digitally-driven change in the re/insurance industry — disruption or transformation?
While technology continues to insinuate itself into all facets of financial services at an exponential rate of change, the insurance industry, in contrast, faces a slow-motion parade of promise, possibilities, prematurity, and pareddown expectations. This article describes the trends and challenges related to how technology and society’s digitization are irrevocably changing risk markets and insurance.
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Several years ago, the seeds of the insurance-industry disruption had seemed to be sprouting as new online insurance companies, appeared at the same time as data tools and machine intelligence were sweeping the technology world.
Today, the picture looks the same in terms of promise; however: