Disruption or Innovation?

The Future

Much is “twittered” and “linkedined” about how fintech will reshape the insurance industry. No doubt there is massive potential for efficiency gains. Additionally, the outputs created by artificial intelligence will affect jobs for many insurance practitioners and innovations such as self-driving cars will alter the landscape of the entire insurance industry.

Uber-Insurance ?

Airbnb for instance, is successful because it offers the ENTIRE value chain of the temporary lodging industry. Research, booking, payment, pre- and after- sales service and the actual service of temporary lodging – all is there. And the same logic applies to Uber.

Most Insutech efforts appear to aim at improving parts of the value chain, which is a great effort in itself, but I doubt that it will lead to an Uber-style disruption.

audiatiur et altera pars

I recommend an article, written by Dr. Schanz,¬† on this topic: head over to their website to get a view from the “other side” on this highly interesting issue.

and one more:

Munich Re recently published another good read on the topic. Head over to their website and note the¬†indication of “approximate reading time” right next to the article. That is an interesting concept of managing visitor’s attention.