Futures & Foresight

The brands that dominate today, dominated during the era of the horse drawn carriage. There’s been tremendous longevity and the question at hand if if these legacy or incumbent insurers will continue to dominate a generation from today. Insurance creates $100B businesses, that live for 200 - 300 years. But Daniel Schreiber, co-founder and CEO of Lemonade, predicts a shift - a significant changing of the guard. The assets which incumbent insurers have built up over the decades are now suddenly a liability. Whether it’s their brand, distribution methodology, IT stack, or whether it’s the corporate culture - all of these have served them so well but the tides are changing. The companies of tomorrow are going to be natively digital, created on a substrate that is data by its very foundation, and they’ll be staffed by bots rather than brokers and AI in favor of actuaries. Watch the latest Lemonade news here ⟶ https://goo.gl/NCpSB1 .....................................................................................................................................................................

Four McKinsey partners describe their Claims 2030 vision. See more in "The future of insurance: Faster, easier claims" in The Next Normal series: https://www.mckinsey.com/featured-insights/the-next-normal/insurance-claims

Macro trends and financial performance of the insurance sector in Saudi Arabia

Over the next decade, next-generation capabilities could transform claims management. Insurance carriers should focus on four areas to unlock value.

The industry is on the verge of a seismic, tech-driven shift. A focus on four areas can position carriers to embrace this change.

To build deeper relationships with customers throughout the entire customer journey from application to cross-selling, insurers must build engaging, personalized journeys at every step of the way.

As automation changes the world of work, governments, businesses, and members of the workforce can take action and adapt.