Identifying InsurTech Frontrunners

To maximize opportunities and minimize collaboration-related risks, identification of suitable partners and partnership models is critical. The World InsurTech Report 2018 analyses different InsurTech types on their benefits and sustainability to identify the frontrunners for collaboration

Established insurers and InsurTech firms are acknowledging each other as valuable potential partners

Collaboration with InsurTech firms can benefit insurers in multiple ways. Through collaboration, incumbents can adopt innovative technology solutions that redefine how insurance is delivered, enhance customer experience, improve cost efficiencies, and expand revenue streams through products for new and underserved markets. InsurTech firms can be a useful avenue to new digital capabilities that enable fast-to-market innovation. Over 75% of insurers surveyed for the WITR 2018 consider “improved ability to enhance customer experience” to be a key benefit of InsurTech collaboration, followed by “faster time to market” (59.5%), and “building new digital capabilities” (46.8%).

World InsurTech Report 2018

The World InsurTech Report 2018 from Capgemini and Efma explores the impact of InsurTech firms and suggests how to forge a strategic collaboration between incumbent insurers and appropriately-paired InsurTechs, which can eventually lead to new customer-centric ecosystem models

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