Next-generation insurance products and services are all about engaging policyholders in managing risk.
Boston, December 18, 2014 – The world and its risks are growing more complex by the day, and it seems clear that insurers will need to change both the process and the tools they use to manage risk. Historically, insurers have adopted a succession of various technical advancements and new devices that improve information handling as well as the computations, communications, and measurements used in insurance. The question now is whether continuing this approach is sufficient for an industry seeking to meet the risk management requirements of a new century.
This Aite Group Impact Note, based on publicly available data and conversations with seven industry stakeholders over a six-month period in 2014, reviews how insurers should proceed in the coming decades and argues that now is the time to consider extending the industry's conceptual framework.
This 16-page Impact Note contains one figure and one table. Clients of Aite Group's Health Insurance, Life Insurance, or P&C Insurance services can download this report.