Accenture seem to have hit the nail square on here. Insurers can't paper over the need to re-engineer processes and to have a new mindset on how Digital and Data can drive new oways of working, operating models and Business models.
In the meantime entreprenuers should sharpen their rhetoric about how their data analytics could help the insurance market :)
Jean-François Gasc, managing director for insurance within Accenture Strategy, warned insurers not to fall into the trap of "simply digitising existing channels by creating upgraded, digital or mobile-friendly versions of existing products and services". He said that executives needed to have a different mindset. "Insurers need to fundamentally change their business models to become digital businesses that are truly customer-centric and that provide consumers with solutions rather than just products," he suggested.
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