The insurance industry is facing change on an extraordinary scale. Insurance companies are wrestling with issues brought on by globalization, technological advances, regulatory changes, heightened competition, and shifting customer demand. In such a complex environment, insurance company leaders need insights into the drivers behind these.. There's room in most market segments for multiple players, but because not all competitive levers are fully or equally available to everyone, insurers typically focus on one of the following five areas: 1 - digitization, data and integration; 2 - brand and distribution; 3 - superior, innovative products; 4- strategic partnerships; 5.
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Abstract. (a) Situation faced: Given their long-established tradition and resounding success, digitalization brings unprecedented changes for insurance companies. Driven by the disruptive developments observed in comparable industries, DEVK, the company investigated in this case, realized their business model is at stake in the digital age.. Life insurance executives have long been aware that their industry is behind the times. Now, our research indicates, they are ready to do something about it. "Change management" ranked as the greatest internal challenge facing C-suite life insurance executives in the most recent biennial global survey by Boston Consulting Group and LIMRA, a global research and consulting organization that.
