Tag: Insurtech

A Greenfield Field Guide for Insurers

Research Desk

If your firm is like most carriers, it’s dedicating considerable resources to legacy modernizations and digital transformations. Although critical, these efforts are incremental in comparison to rapid disruption wrought by the meteoric rise of insurtechs and the emergence of ecosystems as the new economic world order.

However, about half of your leading competitors have decided that incremental innovation isn’t enough. That’s right. Half. According to recent survey* of innovation practitioners by Celent, just over 50% of these future-focused carriers, regardless of size or type, are pursuing a disruptive innovation strategy called greenfield.

When Insurtech Meets Coretech, The Customer Wins

Research Desk

There’s something new happening in the insurance industry. After a decade spent buying technology to make it easier to do business with customers, insurers now are focusing on technology to make it easier for customers to do business with them.

Consumer technology, in all its forms, is shaping peoples’ patience and expectations for when and how they communicate and do business. These evolving expectations are prompting insurers to reconsider their business models as well as their technology investments. You can see insurers adopt this outside-in perspective as they consider how to engage their customers, as they launch consumer-direct businesses, and join digital insurance ecosystems.