Another excellent article very clearly articulating the disruption the insurance industry faces through the advances of technology. The impact on motor and health insurance is already clear, so the question on our minds is how deeply into the London Market's core offering will it reach and how soon?
Many insurance companies are investing heavily in technology, though too often they are still aiming for incremental improvements to their business rather than daring to face head on the disruptive innovations afoot. History records hundreds of companies overtaken by such disruption. But so too does it offer shining examples of companies that had the courage to embrace it. Which camp will today’s insurers find themselves in a decade from now?