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InsurTech Sparks Digital Industry Transformation:

Opening Opportunities for Insurers to Capitalize on New Technologies

Download Insurtech White Paper - Fintech

Download White Paper – InsurTech

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Executive Summary

Digital transformation has dramatically disrupted a number of businesses across horizontal and vertical markets, spanning both business-to-business and business-to-consumer models. The telecommunications, healthcare, and financial services industries have seen adoption and significant changes as a result of digital transformation, but until recently the insurance industry has not been deeply drawn into the transformational vortex. Today, however, the emergence of a host of InsurTech startups is quietly gaining the attention of the industry. These fast-moving, digitally enabled startups are identifying and capitalizing on the weaknesses of traditional insurers with highly inventive value propositions for consumers. As a result, the entire industry is re-examining those areas in which weaknesses are evident and exploring innovative opportunities driven by new technologies. As a part of this process, insurers are rediscovering an essential truth: the need to provide genuine consumer value as a fundamental driver of business success.

By empowering consumers with better selections, communicating with them directly, and addressing individual needs more explicitly, emerging business models are gaining traction within the startup community. Certain insurance processes that have been resistant to change for many years are becoming automated, and data-driven insights are eclipsing traditional metrics for determining rates and delivering services. Companies aligned with InsurTech principles are emphasizing agility, personalization, customization, and innovative services, based on a foundation provided by a dynamic, supporting ecosystem.

InsurTech represents a spin-off of the revolutionary changes that began in the financial services industry, popularly known as FinTech. This paper examines the trends in the industry and looks at the available opportunities for mainstream insurers to not only adapt to these new competitive threats, but to openly participate, benefit, and profit from the changes.

InsurTech White Paper – Table of Contents:

  • The Need for Change in Traditional Insurance Practices
    • Rewarding Policyholder Activity
    • Saving Customers Time and Money
    • Additional, Established InsurTech Trends
  • Data-Driven Benefits for Insurers
  • Creating Value for Consumers
  • The Seeds of Disruption Also Create Opportunities for Insurers
    • Seizing the Opportunities
    • Strategies for Creating Customer Benefits
    • Analyzing Data and Extracting Intelligence
  • Embracing the Future of Insurance – How IMS Can Assist
    • Meeting the Challenge Effectively

Download Insurtech White Paper - Fintech

Download White Paper – InsurTech

Please note: You will receive an e-mail containing the access link. Only completed forms will be processed.
(* Required Fields)

First Name (*required)

Last Name (*required)

Email (*required)

Company (*required)

Job Title (*required)

Country(*required)

Send us a message or Describe any challenges you face:

*Would you like an IMS Solutions Expert to contact you immediately?
I agree to receive product information, newsletter containing news, updates and promotions regarding IMS's products and services. You can withdraw your consent at any time.
  We respect your privacy, please refer to our Privacy Policy or Contact Us for more details.




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