There will be a fantastic opportunity to discuss the increasing impact of digitalisation in the insurance sector at Intelligent InsurTech on October 15th - hope to see you there! (Check it out here).
All insurers are on a journey to use more technology—but as some move faster than others, the very definition of what constitutes an insurance company could be starting to change. Intelligent Insurer investigates. When is an insurer not an insurer? Perhaps when it makes a conscious decision to redefine itself as a digital company instead. In the context of the insurtech revolution, such an occurrence could become commonplace—redefining the very nature of the industry from within. It is perhaps ironic that, for several years, insurers have worried that one of the big digital companies would enter and revolutionise the industry. The fear has been that a company such as Google, rather than sell products to or partner with insurers, might simply enter the industry itself—on its own terms. With its unique influence and intellectual capital, who could compete with Google?