Top Insurance Industry Trends – A Seismic Shift Underway
The environment in which the insurance industry operates is constantly changing, and that pace of change seems to be getting faster all the time. You need to understand the impact these trends will have on your business before that impact actually happens.
But trying to get a handle on all of these changes is overwhelming. A Google search of “top trends affecting the insurance industry” brings up over 12 million results. Which ones should you focus on and what should you do about them?
Majesco has researched the trends and put them into a framework that simplifies this process for you. There may be millions of articles out there, but there are three key forces – People, Technology and Market Boundaries – that are driving changes in the form of new expectations, new innovations and new competition. This report will describe the components that make up these forces, the implications they have for the insurance industry, and what your company can do to seize the opportunities they present.