With COVID-19 increasing customer engagement and expectations, the World InsurTech Report 2020 outlines a growing opportunity for InsurTechs, as insurers focus on their digitalization efforts. As BigTechs make their presence felt in insurance, the boundaries between insurance, InsurTechs, BigTechs, and tech partners are blurring. Insurers need to improve on high-impact focus areas including customer centricity, intelligent processes, product agility and an open ecosystem to remain competitive.<\/p>\n
\u201cInsurers have to look beyond other insurance companies as their competitors, and instead include BigTechs and other new non-traditional players, which are often offering a superior customer experience,\u201d said Anirban Bose, CEO of Capgemini\u2019s Financial Services Strategic Business Unit and Member of the Group Executive Board. \u201cForming scalable relationships with InsurTechs will help insurers digitize faster and more efficiently, deepening their customer relationships and helping them to fend off these new entrants.\u201d<\/p>\n
\u201cInsurers need to become more customer-centric in everything they do,\u201d said John Berry, CEO of Efma. \u201cInsurTechs\u2019 maturity and willingness to collaborate to bring new technology solutions to insurers are accelerating, aiding insurers to meet rising customer expectations.\u201d<\/p>\n
COVID-19\u2019s sector-specific influence <\/strong><\/h4>\nCOVID-19 impacted sub-sectors of the insurance market in different ways as life and health experienced a hike in claims, while travel and auto felt a decline. However, all insurance providers have felt changes in how their customers engaged with them. Even with over 90% of incumbents fully able now to conduct business remotely, they felt the COVID-19 impact on their new customer acquisition and retention. Some 61% of insurers in July vs. 57% in April believed COVID-19 impacted new customer acquisition, and 42% of insurers in July vs. 29% in April believed it impacted customer retention.<\/p>\n
Customer-centric BigTechs are digital stars<\/strong><\/h4>\nCOVID-19 is not the only threat to customer acquisition and retention. BigTechs have raised the bar for customer experience and trust during the pandemic, providing consumers with crisis-proofed processes, real-time responses, and intuitive customer care. Policyholders\u2019 willingness to purchase insurance from BigTechs has increased from 17% in 2016 to 36% in January 2020 to 44% in April 2020. To compete with BigTechs, insurers need to focus on critical priorities which are important including delivering superior customer experience (94%), crisis-proof processes (90%), deliver real-time response (87%), be a caring partner (86%), and have insurance-as-a-utility (70%.) While utilizing the cloud and open APIs is essential, insurers are falling short. Only 19% of insurers represented in the report say they have touchless processes, 29% have human-centered design capabilities and digital-ready systems, 38% have implemented open APIs, and 48% have a cloud-native enterprise.<\/p>\n
More competition means more collaboration<\/strong><\/h4>\nThe report highlights that to improve capabilities, insurers can either build and buy technology or collaborate after thoughtfully weighing trade-offs among four factors: time, investment, autonomy, and differentiation. Collaborating via partnerships is the most efficient way to get the technology needed to remain competitive in the marketplace. Partnerships with specialists via shared access will ensure all insurance industry players can focus on their core competencies and deliver better value while being cost-efficient. Willingness to collaborate amongst the players in the insurance space has been increasing, the World InsurTech Report 2020 found:<\/p>\n
\n- 67% of insurers want to collaborate with InsurTechs<\/li>\n
- 85% of InsurTechs want to partner with technology providers, while 83% want to collaborate with insurers<\/li>\n
- More than 60% of insurers and InsurTechs are interested in collaborating with BigTech firms<\/li>\n<\/ul>\n
A new mindset will be required for firms to shift from capability and asset ownership to shared access to foster efficiency and encourage partnerships with specialists. It will also enable firms to focus on their core competencies and deliver better value through hyper-personalization and continuous co-innovation.<\/p>\n
Infographic<\/strong><\/h4>\n![\"World](\"https:\/\/www.insurance-canada.ca\/wp-content\/uploads\/2020\/09\/witr-2020-infographic-p1.jpg\")
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\n![\"World](\"https:\/\/www.insurance-canada.ca\/wp-content\/uploads\/2020\/09\/witr-2020-infographic-p2.jpg\")
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\n![\"World](\"https:\/\/www.insurance-canada.ca\/wp-content\/uploads\/2020\/09\/witr-2020-infographic-p3.jpg\")
<\/a><\/p>\nAccess the Report<\/strong><\/h4>\nRead the full report<\/a><\/b>.<\/p>\nMethodology<\/h4>\n
The World InsurTech Report (WITR) 2020 covers all three broad insurance segments: life, non-life, and health insurance. This year\u2019s report draws on research insights from two primary sources \u2013 surveys and interviews with traditional insurance firms and InsurTech firms. This primary research together covers insights from over 175+ executives across 26 markets: Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, Canada, Croatia, France, Germany, Hong Kong, India, Israel, Italy, Japan, Mexico, Singapore, South Africa, Spain, Sweden, Switzerland, The Netherlands, Turkey, United Arab Emirates, United Kingdom, and United States.<\/span><\/p>\n1. The report defines BigTechs as large, multinational technology firms such as Google, Amazon, Facebook, Apple, Alibaba, etc.<\/span><\/p>\nAbout Capgemini<\/b><\/h4>\n
Capgemini is a global leader in consulting, digital transformation, technology and engineering services. The Group is at the forefront of innovation to address the entire breadth of clients\u2019 opportunities in the evolving world of cloud, digital and platforms. Building on its strong 50-year+ heritage and deep industry-specific expertise, Capgemini enables organizations to realize their business ambitions through an array of services from strategy to operations. Capgemini is driven by the conviction that the business value of technology comes from and through people. Today, it is a multicultural company of 270,000 team members in almost 50 countries. With Altran, the Group reported 2019 combined revenues of \u20ac17billion<\/span>. For more information, visit www.capgemini.com<\/a>. People matter, results count.<\/i><\/p>\nAbout Efma<\/b><\/h4>\n
A global non-profit organization, established in 1971 by banks and insurance companies, Efma facilitates networking between decision-makers. It provides quality insights to help banks and insurance companies make the right decisions to foster innovation and drive their transformation. Over 3,300 brands in 130 countries are Efma members. Headquartered in Paris, Efma maintains offices in London, Brussels, Andorra, Stockholm, Bratislava, Dubai, Milan, Montreal, Istanbul, Beijing and Singapore. For more information, visit www.efma.com<\/a>.<\/p>\nSOURCE: Capgemini<\/i><\/p>\n
Tags: Capgemini<\/a>, coronavirus<\/a>, digitization<\/a>, Efma<\/a>, epidemic<\/a>, InsurTech<\/a>, Transformation<\/a>, World Insurance Report<\/a>
\nRead the original article at Insurance-Canada.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Adopting a new mindset, leveraging intelligent processes and collaborating with ecosystem partners will be crucial to meet rising business and customer need Paris (Sept. 15, 2020) \u2013 Insurers must explore new ways to build...<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19597"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=19597"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19597\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=19597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=19597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=19597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
COVID-19 is not the only threat to customer acquisition and retention. BigTechs have raised the bar for customer experience and trust during the pandemic, providing consumers with crisis-proofed processes, real-time responses, and intuitive customer care. Policyholders\u2019 willingness to purchase insurance from BigTechs has increased from 17% in 2016 to 36% in January 2020 to 44% in April 2020. To compete with BigTechs, insurers need to focus on critical priorities which are important including delivering superior customer experience (94%), crisis-proof processes (90%), deliver real-time response (87%), be a caring partner (86%), and have insurance-as-a-utility (70%.) While utilizing the cloud and open APIs is essential, insurers are falling short. Only 19% of insurers represented in the report say they have touchless processes, 29% have human-centered design capabilities and digital-ready systems, 38% have implemented open APIs, and 48% have a cloud-native enterprise.<\/p>\n
More competition means more collaboration<\/strong><\/h4>\nThe report highlights that to improve capabilities, insurers can either build and buy technology or collaborate after thoughtfully weighing trade-offs among four factors: time, investment, autonomy, and differentiation. Collaborating via partnerships is the most efficient way to get the technology needed to remain competitive in the marketplace. Partnerships with specialists via shared access will ensure all insurance industry players can focus on their core competencies and deliver better value while being cost-efficient. Willingness to collaborate amongst the players in the insurance space has been increasing, the World InsurTech Report 2020 found:<\/p>\n
\n- 67% of insurers want to collaborate with InsurTechs<\/li>\n
- 85% of InsurTechs want to partner with technology providers, while 83% want to collaborate with insurers<\/li>\n
- More than 60% of insurers and InsurTechs are interested in collaborating with BigTech firms<\/li>\n<\/ul>\n
A new mindset will be required for firms to shift from capability and asset ownership to shared access to foster efficiency and encourage partnerships with specialists. It will also enable firms to focus on their core competencies and deliver better value through hyper-personalization and continuous co-innovation.<\/p>\n
Infographic<\/strong><\/h4>\n<\/a>
\n<\/a>
\n<\/a><\/p>\nAccess the Report<\/strong><\/h4>\nRead the full report<\/a><\/b>.<\/p>\nMethodology<\/h4>\n
The World InsurTech Report (WITR) 2020 covers all three broad insurance segments: life, non-life, and health insurance. This year\u2019s report draws on research insights from two primary sources \u2013 surveys and interviews with traditional insurance firms and InsurTech firms. This primary research together covers insights from over 175+ executives across 26 markets: Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, Canada, Croatia, France, Germany, Hong Kong, India, Israel, Italy, Japan, Mexico, Singapore, South Africa, Spain, Sweden, Switzerland, The Netherlands, Turkey, United Arab Emirates, United Kingdom, and United States.<\/span><\/p>\n1. The report defines BigTechs as large, multinational technology firms such as Google, Amazon, Facebook, Apple, Alibaba, etc.<\/span><\/p>\nAbout Capgemini<\/b><\/h4>\n
Capgemini is a global leader in consulting, digital transformation, technology and engineering services. The Group is at the forefront of innovation to address the entire breadth of clients\u2019 opportunities in the evolving world of cloud, digital and platforms. Building on its strong 50-year+ heritage and deep industry-specific expertise, Capgemini enables organizations to realize their business ambitions through an array of services from strategy to operations. Capgemini is driven by the conviction that the business value of technology comes from and through people. Today, it is a multicultural company of 270,000 team members in almost 50 countries. With Altran, the Group reported 2019 combined revenues of \u20ac17billion<\/span>. For more information, visit www.capgemini.com<\/a>. People matter, results count.<\/i><\/p>\nAbout Efma<\/b><\/h4>\n
A global non-profit organization, established in 1971 by banks and insurance companies, Efma facilitates networking between decision-makers. It provides quality insights to help banks and insurance companies make the right decisions to foster innovation and drive their transformation. Over 3,300 brands in 130 countries are Efma members. Headquartered in Paris, Efma maintains offices in London, Brussels, Andorra, Stockholm, Bratislava, Dubai, Milan, Montreal, Istanbul, Beijing and Singapore. For more information, visit www.efma.com<\/a>.<\/p>\nSOURCE: Capgemini<\/i><\/p>\n
Tags: Capgemini<\/a>, coronavirus<\/a>, digitization<\/a>, Efma<\/a>, epidemic<\/a>, InsurTech<\/a>, Transformation<\/a>, World Insurance Report<\/a>
\nRead the original article at Insurance-Canada.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Adopting a new mindset, leveraging intelligent processes and collaborating with ecosystem partners will be crucial to meet rising business and customer need Paris (Sept. 15, 2020) \u2013 Insurers must explore new ways to build...<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19597"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=19597"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19597\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=19597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=19597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=19597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
A new mindset will be required for firms to shift from capability and asset ownership to shared access to foster efficiency and encourage partnerships with specialists. It will also enable firms to focus on their core competencies and deliver better value through hyper-personalization and continuous co-innovation.<\/p>\n
Infographic<\/strong><\/h4>\n<\/a>
\n<\/a>
\n<\/a><\/p>\nAccess the Report<\/strong><\/h4>\nRead the full report<\/a><\/b>.<\/p>\nMethodology<\/h4>\n
The World InsurTech Report (WITR) 2020 covers all three broad insurance segments: life, non-life, and health insurance. This year\u2019s report draws on research insights from two primary sources \u2013 surveys and interviews with traditional insurance firms and InsurTech firms. This primary research together covers insights from over 175+ executives across 26 markets: Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, Canada, Croatia, France, Germany, Hong Kong, India, Israel, Italy, Japan, Mexico, Singapore, South Africa, Spain, Sweden, Switzerland, The Netherlands, Turkey, United Arab Emirates, United Kingdom, and United States.<\/span><\/p>\n1. The report defines BigTechs as large, multinational technology firms such as Google, Amazon, Facebook, Apple, Alibaba, etc.<\/span><\/p>\nAbout Capgemini<\/b><\/h4>\n
Capgemini is a global leader in consulting, digital transformation, technology and engineering services. The Group is at the forefront of innovation to address the entire breadth of clients\u2019 opportunities in the evolving world of cloud, digital and platforms. Building on its strong 50-year+ heritage and deep industry-specific expertise, Capgemini enables organizations to realize their business ambitions through an array of services from strategy to operations. Capgemini is driven by the conviction that the business value of technology comes from and through people. Today, it is a multicultural company of 270,000 team members in almost 50 countries. With Altran, the Group reported 2019 combined revenues of \u20ac17billion<\/span>. For more information, visit www.capgemini.com<\/a>. People matter, results count.<\/i><\/p>\nAbout Efma<\/b><\/h4>\n
A global non-profit organization, established in 1971 by banks and insurance companies, Efma facilitates networking between decision-makers. It provides quality insights to help banks and insurance companies make the right decisions to foster innovation and drive their transformation. Over 3,300 brands in 130 countries are Efma members. Headquartered in Paris, Efma maintains offices in London, Brussels, Andorra, Stockholm, Bratislava, Dubai, Milan, Montreal, Istanbul, Beijing and Singapore. For more information, visit www.efma.com<\/a>.<\/p>\nSOURCE: Capgemini<\/i><\/p>\n
Tags: Capgemini<\/a>, coronavirus<\/a>, digitization<\/a>, Efma<\/a>, epidemic<\/a>, InsurTech<\/a>, Transformation<\/a>, World Insurance Report<\/a>
\nRead the original article at Insurance-Canada.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Adopting a new mindset, leveraging intelligent processes and collaborating with ecosystem partners will be crucial to meet rising business and customer need Paris (Sept. 15, 2020) \u2013 Insurers must explore new ways to build...<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19597"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=19597"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19597\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=19597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=19597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=19597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/a>\n
<\/a>\n
<\/a><\/p>\nAccess the Report<\/strong><\/h4>\nRead the full report<\/a><\/b>.<\/p>\nMethodology<\/h4>\n
The World InsurTech Report (WITR) 2020 covers all three broad insurance segments: life, non-life, and health insurance. This year\u2019s report draws on research insights from two primary sources \u2013 surveys and interviews with traditional insurance firms and InsurTech firms. This primary research together covers insights from over 175+ executives across 26 markets: Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, Canada, Croatia, France, Germany, Hong Kong, India, Israel, Italy, Japan, Mexico, Singapore, South Africa, Spain, Sweden, Switzerland, The Netherlands, Turkey, United Arab Emirates, United Kingdom, and United States.<\/span><\/p>\n1. The report defines BigTechs as large, multinational technology firms such as Google, Amazon, Facebook, Apple, Alibaba, etc.<\/span><\/p>\nAbout Capgemini<\/b><\/h4>\n
Capgemini is a global leader in consulting, digital transformation, technology and engineering services. The Group is at the forefront of innovation to address the entire breadth of clients\u2019 opportunities in the evolving world of cloud, digital and platforms. Building on its strong 50-year+ heritage and deep industry-specific expertise, Capgemini enables organizations to realize their business ambitions through an array of services from strategy to operations. Capgemini is driven by the conviction that the business value of technology comes from and through people. Today, it is a multicultural company of 270,000 team members in almost 50 countries. With Altran, the Group reported 2019 combined revenues of \u20ac17billion<\/span>. For more information, visit www.capgemini.com<\/a>. People matter, results count.<\/i><\/p>\nAbout Efma<\/b><\/h4>\n
A global non-profit organization, established in 1971 by banks and insurance companies, Efma facilitates networking between decision-makers. It provides quality insights to help banks and insurance companies make the right decisions to foster innovation and drive their transformation. Over 3,300 brands in 130 countries are Efma members. Headquartered in Paris, Efma maintains offices in London, Brussels, Andorra, Stockholm, Bratislava, Dubai, Milan, Montreal, Istanbul, Beijing and Singapore. For more information, visit www.efma.com<\/a>.<\/p>\nSOURCE: Capgemini<\/i><\/p>\n
Tags: Capgemini<\/a>, coronavirus<\/a>, digitization<\/a>, Efma<\/a>, epidemic<\/a>, InsurTech<\/a>, Transformation<\/a>, World Insurance Report<\/a>
\nRead the original article at Insurance-Canada.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Adopting a new mindset, leveraging intelligent processes and collaborating with ecosystem partners will be crucial to meet rising business and customer need Paris (Sept. 15, 2020) \u2013 Insurers must explore new ways to build...<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19597"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=19597"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19597\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=19597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=19597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=19597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Methodology<\/h4>\n
The World InsurTech Report (WITR) 2020 covers all three broad insurance segments: life, non-life, and health insurance. This year\u2019s report draws on research insights from two primary sources \u2013 surveys and interviews with traditional insurance firms and InsurTech firms. This primary research together covers insights from over 175+ executives across 26 markets: Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, Canada, Croatia, France, Germany, Hong Kong, India, Israel, Italy, Japan, Mexico, Singapore, South Africa, Spain, Sweden, Switzerland, The Netherlands, Turkey, United Arab Emirates, United Kingdom, and United States.<\/span><\/p>\n 1. The report defines BigTechs as large, multinational technology firms such as Google, Amazon, Facebook, Apple, Alibaba, etc.<\/span><\/p>\n Capgemini is a global leader in consulting, digital transformation, technology and engineering services. The Group is at the forefront of innovation to address the entire breadth of clients\u2019 opportunities in the evolving world of cloud, digital and platforms. Building on its strong 50-year+ heritage and deep industry-specific expertise, Capgemini enables organizations to realize their business ambitions through an array of services from strategy to operations. Capgemini is driven by the conviction that the business value of technology comes from and through people. Today, it is a multicultural company of 270,000 team members in almost 50 countries. With Altran, the Group reported 2019 combined revenues of \u20ac17billion<\/span>. For more information, visit www.capgemini.com<\/a>. People matter, results count.<\/i><\/p>\n A global non-profit organization, established in 1971 by banks and insurance companies, Efma facilitates networking between decision-makers. It provides quality insights to help banks and insurance companies make the right decisions to foster innovation and drive their transformation. Over 3,300 brands in 130 countries are Efma members. Headquartered in Paris, Efma maintains offices in London, Brussels, Andorra, Stockholm, Bratislava, Dubai, Milan, Montreal, Istanbul, Beijing and Singapore. For more information, visit www.efma.com<\/a>.<\/p>\n SOURCE: Capgemini<\/i><\/p>\n Tags: Capgemini<\/a>, coronavirus<\/a>, digitization<\/a>, Efma<\/a>, epidemic<\/a>, InsurTech<\/a>, Transformation<\/a>, World Insurance Report<\/a> Adopting a new mindset, leveraging intelligent processes and collaborating with ecosystem partners will be crucial to meet rising business and customer need Paris (Sept. 15, 2020) \u2013 Insurers must explore new ways to build...<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19597"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=19597"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19597\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=19597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=19597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=19597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}About Capgemini<\/b><\/h4>\n
About Efma<\/b><\/h4>\n
\nRead the original article at Insurance-Canada.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"