What lessons can insurance executives learn from other business sectors, such as the media and music, banking, and automotive industries? This is a subject I’ll be exploring this Thursday in a roundtable discussion with several fellow Accenture experts and a group of senior insurance professionals.
Cindy DeArmond, managing director of Accenture Insurance Policy Services, will be introducing our North America Digital Insurance Solution Center (DISC), an incubator environment that helps insurers explore tomorrow’s industry landscape and innovative digital applications and solutions in a safe environment.
Part of this exploration comes from looking at how other industries are adapting to the rapid changes brought on by digitalization. Mark McDonald, managing director of Accenture Strategy, Digital Strategy, will be using the lens of technology to look at how the media and music, banking, and automotive industries are responding to the disruption, and the lessons insurers can learn from their responses.
Finally, Mark Halverson, Accenture managing director of financial services, will look at how the increasing presence of autonomous vehicles, robotics, artificial intelligence and cyber security will shift risk pools, requiring insurers to rethink their business models and focus on making innovation a safe reality.
We’re living in a time of unprecedented technological change, a reality that makes things both exciting and nerve-wracking for businesses that want to survive. Sharing ideas and examples from the world around us can help take the edge off the fear that’s frequently involved in change, and give us some new perspectives of how to look at our industry.