Insurance industry dynamics are constantly evolving with the evolving risk scenario, new players, new offerings, and a new set of preferences from customers. The pace of evolution is accelerated by the disruption sparked by the historic COVID-19 pandemic. Today the industry players – insurance companies, InsurTechs, and technology providers – are challenged with issues ranging from business continuity to employee safety, risk management to financial results – all while keeping a wary eye on critical customer service and engagement.
In this context, the World InsurTech Report 2020 from Capgemini and Efma explores how the industry players can collaborate at scale to build a holistic set of capabilities, by which, they can navigate through crises and also acquire more resilient business models that support sustainable and profitable growth.
The report also explores the evolving dynamics between insurers, InsurTechs, technology providers, and Big Techs and deep dives into various aspects of collaboration among the industry players.