Description

Usage‐based, on‐demand and object‐specific insurance products are emerging in response to shifting customer lifestyles. Life insurers for instance face pressure to reinvent their product strategies to meet the needs of their next generation of customers. The development of products to insure emerging risks is becoming critical to carrier profitability, particularly as margins in traditional products erode. Increased modularity in the insurance value chain is enabling new combinations of players and threatening the position of incumbents. Insurers have enormous amounts of data.