We’re facing a landscape where open technology is reshaping the insurance industry in front of our eyes as connected systems revolutionize how insurers compete and serve. This whitepaper is essential for firms planning their strategy to remain relevant.
Insurers face pressure to move a traditional, closed model to a dynamic, interconnected future. Here, ecosystems, partnerships, and APIs are not just additions, but essential components for forging new paths. As the industry’s familiar boundaries blur, now is the time to adapt, evolve and embrace tech-driven demands from consumers and businesses alike.
- The shift towards digital and open tech ecosystems
- Emerging trends in cloud technology and on-demand insurance
- Strategies for insurers to thrive in a tech-first market
Insurance is changing, fast. In order to succeed – or even survive – insurers need to connect and adapt their core systems rapidly to the new embedded revenue opportunities and digital products demanded by consumers.
Nikola Djokic, Managing Director Insurance, SAP Fioneer
Our whitepaper delves into a transformative approach towards insurance. We emphasize initially the necessity for insurers to integrate with emerging technologies and ecosystems. As we navigate through rapid digitalization and evolving consumer preferences, our focus strategically shifts towards leveraging cloud computing, artificial intelligence, and seamless integration to offer comprehensive, tailored solutions. Furthermore, we underscore the potential of embedded insurance. We highlight the importance of personalization, ultimately aiming to redefine the experience to be more accessible, intuitive, and seamlessly integrated with the customer’s lifestyle.
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You can find out more about our insurance platform here.