Disruption is prevalent in the insurance industry. Shifting consumer expectations, dynamic Insurtechs transforming key elements of the value chain, innovative technologies and the blurring of traditional boundaries are reshaping the insurance business at is core.
As digitalisation takes hold, both incumbent and disruptors are acting fast to leverage the latest in connected technologies to create and improve products, deliver new services, lower premiums and offer an all-around better experience to customers. With the Internet of Things (IoT), advanced analytics and artificial intelligence (AI) having now moved beyond hype, the sector is well on its way towards achieving tangible impact with digital technologies.
In today’s environment, insurers are faced with strategic decisions on how to advance in the digital journey, how to do it fast to maintain a decisive competitive edge, and, crucially, how to get digital right in order to remain relevant and capture new business opportunities. As digital transformation materialises, how are insurers moving from siloed digital initiatives to end-to-end digitalisation across all industry processes? To what degree are they revising processes, propositions and customer relations to shift from a product focus to a customer-centric philosophy? How are they overcoming obstacles to transformation - including legacy systems - and aligning strategy, processes and talent with a digital roadmap? Is insurance ready to move from incremental innovation to a complete reinvention of its business model?
The FT and Microsoft are delighted to facilitate this high-level editorial breakfast for experts in innovation, operations and transformation across the insurance sector. Join your peers to assess the disruptive forces at play in the industry today, and explore the impact that these will have on business models across the insurance ecosystem.