The Future of Insurance
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The insurance market of tomorrow
Together with international insurance corporation Standard Life and communications services provider Unify, the 2b AHEAD ThinkTank has recently published a new trend study, "Insurance 2020: Customers, Brokers, and Change Processes." The qualitative Delphi-method study uses the expert predictions of 30 innovation leaders, heads of strategy, and futurists as its basis, and its scope reaches far beyond the planning horizons of established industry players.
A digital future for insurance
The expert participants predict a fundamental change of values among insurance customers. While in past years it was the brands, brokers, and insurance carriers who enjoyed the trust of industry customers, in the next few years large numbers of customers will shift their trust primarily to digital assistance systems. This, in turn, will lead to a sweeping change in market structures, with today's giant standard sector disappearing in favor of larger economy and premium markets. Insurers who aim to do business in tomorrow's economy sector will need to combine their products and processes with the principals of digital commerce. On the other hand, carriers who wish to do business in the premium sector will need to reposition themselves as identity managers for their customers.
With six major trend areas, a length of 60 pages, and 27 concrete strategic recommendations for insurance companies and brokers, this study is an invaluable guide to the insurance market of tomorrow. The 2b AHEAD ThinkTank and its co-sponsors hope that this study will lead your organization to success as well.