The insurance industry, whether life, personal, commercial, or specialty, is all too often unfairly painted as sluggish, with a slow and steady approach to innovation in comparison to other sectors in financial services.
However, from our work with some of the largest and the most nimble players in the insurance market, it’s our view that such black-and-white comments about insurance being stuck in the dark ages are simply wrong. It does take time for the flywheel to turn, but looking at the insurance model today, there’s a genuine pace of change.