Small independent start-ups are harnessing technology like artificial intelligence and machine learning to disrupt the sector and easily grab consumer attention away from the traditional Goliaths of the sector. The world is changing. Risks are changing. The way we drive is changing. It therefore stands to reason that in order for insurance companies to survive, they have to innovate and build new ways of working, new products and new rewards to address these changes.
No industry is exempt from disruption. Today, the world is always-on, ever-connected and fast-changing. We’re beginning to see a clear shift away from the traditional means in which we’ve always conducted business. We’re evolving, and so is insurance.