How will insurers ante up?
The capabilities of yesterday are not sufficient to be successful in today’s competitive landscape. Thus, insurance industry players are increasingly collaborating at scale with ecosystem partners to adopt best practices and quickly acquire the required capabilities.
Established insurers were confident in their ability to establish crisis-proof processes, and InsurTechs are optimistic about their capability to offer digital experiences. Despite their strengths, none of the industry players have sufficient capabilities to address all of the customers’ needs.
Three out of four incumbents and InsurTechs believe their service is caring
World InsurTech Report 2020
The World InsurTech Report 2020 from Capgemini and Efma explores the changing business dynamics of the insurance industry – from the global pandemic underscoring the need for business resilience to BigTechs setting new standards for customer experience. The report highlights the need for insurers to adopt a new mindset and collaborate with ecosystem partners to innovate and build new capabilities that meet the digital needs of customers.Download now