“It took 7-8 years from the start of the Digital Age in 2007, with the introduction of the Apple iPhone, for Insurance 1.0 to witness the emergence of Insurtech, and with that only 3-4 years to see the shift to Digital Insurance 2.0! Will you be ready for Insurance 3.0 and the future of insurance?"
Denise Garth SVP Strategic Marketing Majesco Jan 10th, 2019
James Harding COO at 360Globalnet builds on perceptive article by Garth showing the evolution and path to Insurance 3.0. Where are you now on that journey?
Harding also ends with a direct challenge to both the mindset and ambition of Digital Claims Leaders.
I recently met a senior exec at a major insurer that spent one year and £10 million to complete an Digital Claims POC- just one customer journey mind! That is like ERP solutions before the days of Salesforce.com. Expensive, slow and so Insurance 1.0 Today POCs can be configured and launched in days; a three month POC will prove the metrics from delighted customers to collapsed costs. All without high upfront costs; in fact usually with no integration or other upfront costs.