Published: 15 June 2023
Insurers are revising business models and reprioritizing their technology investments to address unpredictable and challenging business conditions. Product leaders can use this framework to map existing capabilities, segment clients and prospects, and build a more targeted roadmap.
Business disruptions (such as higher inflation, talent scarcity, supply chain disruption) and hype around technologies (such as generative AI and the metaverse) prompt insurance companies to revisit scenarios to establish plausible approaches they can adapt. This shift is leading to vendors realigning their investments in skills and capabilities.
Two key factors influence the future visions for insurance companies. These include the degree to which they see: (1) autonomous adaptability as a means to augment people or replace people in decision making and (2) ecosystem engagement as something the insurer should narrowly orchestrate and control or widely participate in.
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