How Insurers Must Navigate the Pace of Industry Change
At the recent Duck Creek Formation ’19 conference, Celent analyst Mike Fitzgerald presented Celent’s new report, “Pace of Change: Critical Drivers Impacting the Transformation of Insurance.”
In the first decade of the new millennium, one of insurers’ highest priorities was to achieve better product speed to market through the adoption of modern core systems. They have made significant progress on that score, but they face another challenge of keeping up with the rate at which business in general is changing, and with it the business of insurance. The topic is examined in Celent’s new report, “Pace of Change: Critical Drivers Impacting the Transformation of Insurance,” which co-author Mike Fitzgerald discussed at the Duck Creek Formation 19 conference earlier this month.
“Think of speed to market as a 100-yard dash: you know where you start and finish, and you just dash,” Fitzgerald commented. “Perfecting that is speed to market, but that’s not the same thing as pace of change.”
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