InsurTech is now reality and it has set the industry ablaze.
Take for example Chinese digital insurance pioneer ZhongAn, which has taken the market by storm and positioned itself alongside, if not ahead of traditional incumbents.
Yet, ZhongAn is an exception, not the rule. The fact remains that many insurers still struggle in digitising their business and a key reason for much of the failure to move past proof of concepts is a lack of management buy-in and support.
Insurers must face up to the need to not only embark, but race to be ahead in the digital journey and this Summit will be a step in the right direction.