Global Insurance Markets in the Future: Overview of what Insurers and Regulators are Doing to Future Proof Insurance

Dublin, Oct. 23, 2018 (GLOBE NEWSWIRE) -- The "Insurance in the Future - Labs, Sandboxes, Venture Funds, Strategic Investments and Start-Up Accelerators" report has been added to ResearchAndMarkets.com's offering.

The insurance ecosystem is undergoing transformation and innovation like never before and what we have seen is only the beginning.

From distribution to pricing, product development to underwriting claims servicing to compliance no part of the insurance value chain is safe from change.

Some insurers and regulators are using sandboxes, labs, start-up accelerators and strategic investments to seek future solutions to how insurance is done. Most are sitting on the side and hoping they can muddle through.

The Fourth Industrial Revolution has brought about immense technological advancements. Robots and artificial intelligence compete with the human labour force. The industry is evolving with advancements in technology, bringing benefits across the whole value chain including distribution and sales, underwriting, claims, solutions and services, and operational processes. It is a challenge for insurers to innovate from the inside to drive business growth. The main challenge is to identify where internal innovation comes from.

Some organisations are setting up labs to innovate from the inside, which sit outside of the day-to-day running of the business and look at the business from an outside perspective. Others are investing and partnering with tech start-ups, and other institutions. Meanwhile, country regulators are looking at how regulation must change to cope with insurance of the future with several setting up sandboxes to help new companies.

This independent report is an overview of what insurers and regulators are doing to future proof insurance.

Key Topics Covered:

Overview

• Introduction
• Sandboxes
• Key trends
• Customer centricity
• Fintech

Regulation

• Regulation overview
• European Banking Authority
• European Commission

Regulation by Country

Technology

• Sharing economy
• Social media
• Reputation economy
• Bitcoin
• Technological advances
• Distributed ledger technology
• Blockchain technology
• Blockchain and insurance
• Blockchain in the future
• Blockchain Ireland
• Smart insurance contracts
• Decentralised autonomous organisations

Companies Mentioned

• Allianz
• Aviva
• AXA
• BUPA
• Cigna
• Fairfax
• FWD
• Hartford
• HCF
• IAG
• Legal and General
• Lloyds of London
• Met Life
• MMI
• MSIG
• Munich Re
• Northwestern Mutual
• NTUC
• Ping An
• QBE
• SCOR
• Tokio Marine
• Travelers
• UnitedHealthcare
• VIG
• Willis Towers Watson
• Zurich

For more information about this report visit https://www.researchandmarkets.com/research/sk4x4j/global_insurance?w=12

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