We've been talking about the topic for many years now. Aren't we done yet? Can't we move on? In fact, we are just about done -- almost all insurance operations have incorporated digital technology.
The growing presence of insurtech companies is not a threat, but rather is creating real opportunities for the industry.
The Economist says most executives (54%) ignore the challenge from FinTech or talk about disruption without making any changes.
Traditional insurers believe that 21% of their revenue is at risk to InsurTech start-ups within five years.
Innovation in insurance can largely be attributed to technological advances, such as blockchain, from outside the sector.
The pace of change in the global insurance industry is accelerating more quickly than could have been envisaged.
There are six opportunities that incumbents need to explore to meet customer needs while improving core functions.