Insurance Tech Vision 2020 trends
The new models that insurance organizations must build to overcome tech-clash share one thing: they are based on collaboration. Successful business leaders will invite customers, employees, partners and the public to build their new course for the future together. We see five technology trends for 2020 that exemplify this:
The I in Experience: Helping people choose their own adventure
As customers demand more ownership over their digital lives, insurers must find ways to provide individuals with more agency and make them co-creators of their experiences. Those that do will find more active, engaged and loyal customers.
AI and Me: Reimagine the business through human and AI collaboration
Insurance organizations are only realizing a fraction of the potential of AI—and ultimately their employees. By finding more collaborative use cases and the capabilities needed for AI and people to work together seamlessly, they will amplify the best qualities of both.
The Dilemma of Smart Things: Overcome the “beta burden”
As products become conduits for experiences, their features and functionality are constantly in flux. While this state of “forever beta” opens a wellspring of opportunity, if mishandled it risks leaving people overwhelmed, frustrated and wary of what’s around the corner.
Robots in the Wild: Growing the enterprise’s reach – and responsibility
Businesses are starting to extend their robotics capabilities into uncontrolled environments and the open world, and robot use cases are expanding from specialized industries to every industry. Insurance will have a key role to play in facilitating the exciting possibilities of a world of ubiquitous robots.
Innovation DNA: Create an engine for continuous innovation
Businesses can transform how they innovate by focusing on three key building blocks of their company’s innovation DNA: maturing digital technologies, scientific advancements and emerging DARQ technologies (distributed ledger tech, AI, extended reality and quantum computing).