The InsurTech journey… are we there yet?
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Of all of the threads of Fintech which have been storming the trade press over the last 2 years, InsurTech has been one of the most enduring, and potentially industry-altering. While it is all too easy for those with established businesses to dismiss these nimble start-ups, they do so at their peril.
In this paper we examine the many parallels between what has happened in the travel industry and what we are beginning to see in the insurance sector. We discuss some of the developments taking place in the UK insurance industry and talk about the future, where we predict an insurance industry that looks very different:
In summary this paper covers:
- Disruption of digital brokerage
- Dismantling packages products
- The new product manufacturers
- Legacy insurance