In this great little ITL post Nick Martin reinforces what many of us thing: that most of the impact of insurtechs and their disruption over the next few years will be in supporting the incumbents doing things better, rather than simply pushing them all the way of the dinosaur.
Now, that doesn't mean anyone can sit on their laurels; there will still be winners and losers. But it does mean the smarter incumbents can be seeking out the smarter InsurTechs to work out what they can achieve together.
There is little argument that, should the insurance industry fail to better engage with its customers and continue to poorly communicate its social value in protecting people, communities and assets someone else will transform what today for many is a “grudge transaction” into a delightful relationship. However, I believe InsurTech does not have to be a zero sum game.
http://insurancethoughtleadership.com/insurtech-need-not-be-a-zero-sum-game/
