Gartner Research

Digital Business Will Intensify Competition in Insurance

Published: 09 June 2015

ID: G00274403

Analyst(s): Juergen Weiss

Summary

Digital transformation will create new opportunities and threats for the insurance industry. Insurance CIOs need to adapt their IT strategies to prepare for major changes in products, processes and technologies.

Table Of Contents
  • Impacts

Analysis

  • Successful Insurers Will Demonstrate Industry Fluidity
  • Blurring Lines in the Insurance Industry

Impacts and Recommendations

  • Digital business will force business and IT leaders to establish an ecosystem of partners to transform and extend their insurance value chains
  • Business moments that leverage analytics and the Internet of Things represent a unique opportunity for business and IT leaders to evolve to insurance as a service
  • A lack of agility caused by legacy IT systems will lead to the emergence of more digital disrupters from outside the insurance industry that business and IT leaders must compete with

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