The global insurance industry is at a watershed moment. Insurance leaders have witnessed the growing impact of fintechs – financial technology startups – on traditional banking and heavy investment in insurance technology (insurtechs). They are consequently attempting to identify the best approach to working with these potentially threatening technology innovators. Insurers are galvanizing themselves just in time. This executive report, based on a survey of insurers, insurtechs and venture capitalists, outlines causes, consequences and a path forward for insurers to successfully embrace an insurtech-infused future.

Featured findings

81% of outperforming insurance businesses surveyed have either invested in or are already working with insurtech businesses
26% of 400 insurtech businesses surveyed are creating online-only digital solutions
57% of surveyed insurance executives say insurtechs are already driving innovation across the industry

About the authors

Mark McLaughlin

Mark McLaughlin
IBM Global Insurance Director
IBM Global Markets, Financial Services

Stefan Riedel

Stefan Riedel
Vice President
Insurance and Insurance Solutions Europe

Christian Bieck

Christian Bieck
Global Insurance Leader
IBM Institute for Business Value

Lynn Kesterson-Townes

Lynn Kesterson-Townes
Global Cloud Leader
IBM Institute for Business Value

Anthony Marshall

Anthony Marshall
Research Director, IBM Institute for Business Value
IBM Global Business Services

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