Beyond Fintech: Disruptive innovation in insurance
A rise in the number of insurtechs coupled with external forces is fragmenting insurance value chains, thereby encouraging insurers to seek new partnerships and invest in innovation. Evolving purchasing patterns are forcing insurers to offer flexible, customizable range of products. With the rise of connected insurance and a constant need to monitor customer risk, insurers are challenged to be more proactive than ever.
A 2017 report from Deloitte and the World Economic Forum, “Beyond Fintech: A pragmatic assessment of disruptive potential in financial services,” studies the disruptive forces that have the potential to shift the insurance landscape. Read on to explore key takeaways for the insurance sector, and consider what these findings mean for your business.