An interesting analysis of potential Insurtech trends from Munich Re. Some will have longer time horizons than others.
While I would agree that the earlier the potential is recognised, the better it can be implemented, in my +30 years experience of implementing technology in insurance there is always a significant time lag between recognition and enactment.
The benefits of technology always take longer to be realised but are more significant than expected.
Technology is an important driver of future business. Those who make use of the opportunities offered by new technologies gain competitive advantages through innovation and productivity. The earlier the potentials of trends for one’s own business model are recognised, the better they can be implemented. Munich Re analyses top technology trends for insurance companies in the Tech Trend Radar.