The Internet of Things, big data, digital channels and artificial intelligence pose threats and opportunities. Michael Costonis explains in this Insurance Insight of the Week video.

The next set of disruptive trends—among them, the Internet of Things, the sharing economy, platforms and the rise of the blockchain—all promise to change the world of insurance profoundly. They bring with them both threats and opportunities, enabling the rise of new competitors from outside the insurance sector but also enabling insurers to embed themselves in new business ecosystems.

But this time the disruption is predictable. Forward-thinking insurers, who are paying attention to the trends, can redefine their role and fundamentally change how they create and deliver their products. They can improve operational efficiency, assess risk with greater precision and leverage ecosystems to offer additional innovative products.

Watch this Insurance Insight of the Week video to learn how insurers can move from one-off insurance transactions toward connected insurance offerings. 

Connected insurance provides two main opportunities

As digital ecosystems become the foundation for the next wave of disruption in insurance, leading insurers are taking action now—developing strategies to forge new roles and new paths.

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