The birth of Innovation Labs across various industries signals the beginning of the golden age of the digital era. Aided by the existing regulatory environment, Insurers too have also joined the race to innovate to keep up with the demands of today’s customers.
Perhaps the most frequently asked question is: How should Insurers go about innovating? Innovation comes in many different forms, typically through the creation of new products & services and educating the organisation on the new strategic direction. However, none of these have taken the industry by storm the way InsurTech has.
These start-ups are aggressive and bold, adopting an all-out strategy to connect with customers, where mass adoption is key to success. While they are here to stay and disrupt the industry, how can Insurers work with them and leverage on these new touch points? Some Insurers invest in them, while others open up their markets to conduct pilot tests before deciding on the next move.
On the other hand, for the InsurTech start-ups, let’s explore what makes one successful and what Insurers are looking for when considering partnerships and investments. More importantly, do they have what it takes to survive this storm?
The 1st Asia InsurTech Summit will share success stories, bringing Start-ups, Insurers and Investors together to create a better future for the industry and getting you armed with the current tools to prosper in the digital world.