Disruption to $100 billion insurance sector
Friday, 05 05 2017, Category: Technology, Country: World
The insurance industry can no longer keep the disruptive forces of technology at bay as the market proves ripe for change.
Major insurer Willis Towers Watson argued in its quarterly InsurTech Briefing released last month that disruption is most likely to upend the $100 billion small business market with both start-ups and incumbents jostling for relevance, market share, and ultimately, customer dollars.
“Arguably, insurers who stick too long with the old model will fade as premiums and their balance sheets shrink,” the report said.
Source: Insurance Business