VALUE CHAIN DISRUPTION IN INSURANCE THE ROAD TO INSURANCE AS A PLATFORM

This whitepaper explores the ‘need for speed’ within the insurance market and how a new speed of change
across all industries is demanding a new approach to delighting customers and growing revenue. This
new approach involves the adoption of a digitally matured operating model, referred to as “insurance as a
platform” - a digital evolution of the traditional insurance ‘platform’ model pioneered by the likes of Lloyd’s
of London. By treating and packaging the organization as a discrete set of capabilities and processes, this
approach enables internal and external parties to access and reuse components appropriately. This new
model has the potential to grow revenue via more effective collaboration and the integration of innovative
partners and improve operational efficiency through reuse and productivity increases of up to 300%. We will
describe from a technology perspective how to start adopting this new model using an API-led approach to
connectivity and the importance a new IT operating model plays in implementing it.

 Digital

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