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.
Incumbent insurers and banks still seem in no rush to strengthen their currently weaker position to capture the value from Open Insurance.
The logical next step for bancassurance is to play a role within new digital ecosystems based on open APIs.
Insurers must allow third parties to access their data and products and be present – and relevant – in customers’ digital ecosystems.