Our recent global survey of insurance professionals asked which companies respondents felt would be responsible for leading the growth of the insurance industry.
The perception was that there will be multiple drivers of growth for our sector in the future. The most popular answer was that the challengers – startups, insurtechs, and fintechs – would lead the next wave of growth in the insurance industry (41.5%), while the establishment was the second most popular answer, with a third of respondents selecting this.
Interestingly, only 10.8% of respondents felt that the big technology players would be responsible for leading growth in our industry, with respondents commenting that they felt a combination of factors would be responsible for leading the growth of the insurance industry, including reinsurers, and the establishment partnering with the challengers.
Here at Duck Creek, we feel strongly that there is strong scope for collaboration between technology companies and insurers – and that technology should enable the realisation of successful growth strategies for insurers, rather than dictating or limiting it.
Duck Creek is also continuously developing its global Partner Ecosystem, offering the best insurtechs and insurance service providers the opportunity to offer their expertise, solutions, and technologies in a collaborative and proactive way.
Together, we offer the insurance industry best in class software combined with unparalleled services and complementary solutions to ensure that our customers are ready and able to accept the challenges and demands of our evolving market.
Download the full white paper – The New Standard in Insurance – why do we need it and what should it look like?