The Insurance 2022 Vision

10 actions for insurers to become relevant players in insurance ecosystems

Global trends affecting all industries

Empowered People

Citizens demand their rights more powerfully. The new empowered generations expect actions and behaviors from governments, companies and society that guarantee the equality of people in all areas.

Empowered People

Green Generation

Society is increasingly aware of the need to take care of the planet. The commitment to reduce the impact of our activity on nature is now a reality. The whole world is taking steps in this direction.

Green Generation

Health first

Life expectancy is getting higher and higher. People expect to have a better quality of life, both in the field of Health (prevention and protection) and in the field of savings and life insurance.

Health first

Technology Everywhere

The connected world is already a reality that has been produced thanks to the implementation of innovative technologies, which work as an enabler to develop new possibilities for people and companies.

Technology Everywhere

Global Rules

A new economic and political reality is shaping our environment. The decisions of governments and international agencies and regulatory changes end up having an impact on society and on other trends.

Global Rules

Unexpected Awareness

Huge global challenges with unexpected consequences that are not easy to manage. The entire world is impacted by them and has to make important decisions to cope with their changing effects.

Unexpected Awareness

Specific Insurance Challenges

Looking for new margins

Insurers should seek margins by changing the way they operate: e.g. by transferring policy distribution to retailers, including new services or expanding its offering to other lines of business.

Looking for new margins

Insurance-As-a-Service

Insurers should move towards being fully digital companies. And they can do it from scratch (to a lesser extent) or by creating companies or products that explore this path in a resolute way.

Insurance-As-a-Service

Global Fraud Battle

One of the biggest problems the insurance industry struggles with (amplified in economic crises). But insurers are enabled by technology, which helps them speed up and improve their fight against fraud.

Global Fraud Battle

Insurers should be wherever their customers are. The path to ecosystems

The Insurance Liquid Ecosystems

Two ways into the ecosystems

Insurance companies must direct their strategies towards these two imperatives

Data-Driven

  • Strategic decisions and planning are based on real-time & actionable data.
  • Insurers must apply and allow the access and usage of data across business units.
  • And build a culture to act oriented by data.

Service-Oriented

  • Oriented to provide a full-on liquid experience.

  • Creating additional value for customers through services.

  • Their purpose is to offer a personalized experience, based on customers preferences.

So… Where should a CxO start?

Click on the 10 actions to learn more about them.

Align your CX with the Ecosystem
Be an AI-Driven Company
Go Smart Distribution
Focus on Efficiency and Simplification
Take Advantage of the 4 Acceleration Forces
Accelerate IT Transformation
Product Mix Changes
Become an Insurance aaS
Manage Unexpected Challenges
Consider Talent and Culture challenges