Insurers are responding to external disruptions and internal legacy IT and process challenges by evolving from being risk managers to becoming guardians against those risks for their policyholders. A platform-based model allows insurers to directly interface with customers, capture valuable data about policy purchase cycles, price products more accurately, and have a greater control over the sales and service experience, as opposed to merely reducing claims expenses. These benefits create more value for customers, who are less worried about the consequences of facing these risks with better financial knowledge.
This report explores how a platforms-first mindset can help carriers become future-ready and remain competitive in the face of emerging industry threats.
Industry: insurance, financial services
Geography: global
In this report, we outline the key benefits of adopting a platform-based operating model for carriers, including:
We conclude the report with a framework to guide the adoption of a platform-based operating model for carriers.