The insurance sector is entering into a new phase with significant opportunities of growth and challenges. Insurers are focusing on offering new insurance products that caters to the needs emerging from the sharing economy. Digital transformation is emerging across the value chain to reshape insurance products, pricing, marketing and distribution and claim settlement.
Insurers are leveraging data analytics across the insurance value chain to re-shape their strategy and improve customer centricity. Insurance regulators are looking to formulate regulations to govern insurers’ cyber risk handling approach and address concerns related to inappropriate usage of big data.
Increasing rate of attacks, growing demand and new regulations provide insurers the opportunity to address the risks present in cyberspace. significant changes in the technological, social and economic environment are likely to change the needs of insurance buyers.
Our practice can help you navigate these challenges. We can help you grow in a market where geopolitics, industry norms and consumer behaviors are evolving.