In recent years, established insurance companies and others in the finance sector have been challenged by tech giants and new startups alike.
What can established insurance companies do?
Established insurance companies can devise their own digital (Insurtech) strategies by learning lesson from how established players in other industries responded to disruption and made changes to their products and internal operations.
Pioneer Consulting APAC has experience of working with incumbents and challenges in other digital sectors, and we've analysed several nascent threats by large players from other industries and small Insurtech startups alike:
Exhibit 1: Potential threats to insurers from various sources
We have also looked to the responses by established finance giants to the intrusion of Fintech startups in devising strategies for insurers facing off against Insurtech:
Exhibit 2: Taking a leaf from the book of financial institutions in responding to disruption by Insurtech startups
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