Its been more than four years since the term “insurtech” was coined. Back then, a surge in interest in deploying new technology, data and analytics to improve all parts of the insurance buying process held the potential for radical change.Legislation & Regulation
Disruption in financial services saw the emergence of challenger banks. Today, costs have been reduced, and customer experience has improved. If even banking could be fun, surely insurance would be next?
The message has got through — few in the insurance industry would claim that better data, analytics and technology are not a critical part of their future success.
Blueprint One by Lloyds of London identifies how it will deliver on the Future of Lloyds manifesto. It provides an excellent vision for any insurance organization about how the world should look a few years hence.
But dont mistake a clear view for a short distance.