Insurers are no strangers to change. Even so, the past decade has been fairly tumultuous: new and more stringent regulatory requirements, changing customer demands and expectations, increasing competitive pressures and disruptive technologies and business models are all combining to create an era of unprecedented change for the insurance sector.
The insurance sector is the most prone to disruption. According to a recent KPMG survey, Insurance CEOs said change is imminent. One concern identified was the ability of insurance organisations to keep pace with the rate of change in the sector.