Altus were able to capture the complexity of our business and break it down into a few simple but very powerful views. The Capability Model that the Altus team built has helped to improve engagement across the business and also allowed us to structure one of DLG’s key programmes in a way that I didn’t think was possible.
Greg De Saulles
Former Director of Architecture & Strategy
Direct Line Group
Whether it’s chat-bots offering a better customer experience, digital intermediaries disrupting distribution, Blockchain offering smart contracts, new P2P and on-demand insurance models or IoT devices offering insurers enhanced data, the insurance sector is facing huge transformation in the next 3-5 years.
Should incumbent insurers be worried about this disruption, or excited about new opportunities and the interest being shown in the industry?
Download latest research:
General Insurance: The Digital Experience 2017
The InsurTech Journey... are we there yet? Whitepaper
Disrupting an industry over 300 years old won’t happen overnight and at Altus we believe the InsurTech revolution is a huge opportunity for the industry and incumbent players.
Partnership with these InsurTech players will be key, and integration of any new technology will be where the hard work is needed. It’s not just about new technology though. Operating models will need to adapt and brave decisions will have to be made about legacy books and IT estates in order to reduce complexity and stem rising run costs. There is certainly a lot of work to do in the coming years.