"More than four in five insurtech funding deals in the fourth quarter of 2017 were done by established insurers, according to Willis Towers Watson."

Nathan Golia Digital World

Nathan then goes on to say "“Insurtechs and the venture capitalists who fund them are looking to accelerate a shift of the industry away from traditional insurance products toward personal risk management, microproducts and insurance-as-a-service,” the report says. “While C-suite executives of outperforming traditional insurance companies understand the opportunity, they are reluctant to translate this into strategy.”

That is because Insurance is by nature a risk-averse industry - it understands the costs of risk. How can you identify "Analogue Winners" that will make the transition to "Digitally Transformed Winners"?

One indicator is recruiting digitally savvy expertise. Look for Chief Digital Officers, Digital Transformation Officers, and Insurtech Investments. Another must is a CEO that publicaly shows they are going to shake the business up.

There are myriad groups in an insurer that will put the brake on exploiting insurtech. "We can't do that because.... " from Central IT, Compliance, Countless Security and Review Boards.

To be fair, most CTOs have tens of acquired legacy systems that are difficult enough to maintain never mind change. The last thing they need is integration of dynamic insurtech products with inflexible and creaking core systems with complex interoperability lash-ups. Are Legacy systems biggest obstacle to digital transformation?

Do they allow standalone new products like Slice? That adds to the silos. Or do they adopt new platforms like Guidewire? They are complex, expensive and each country or US State requires a separate deoloyment.

What you are looking for is a digital platform that only requires light-touch integration and rejuvenates core systems and can be rolled out over multiple countries, multiple affiliates, all perils and the supply chain. Securely of course and gives you a Lemonade fizz of UX with scalability and customisation.

All without any capital investment and a pay-as-you-go commercial model. Oh- and one more thing.

Is already proven and deployed by global and smaller insurers.