"At some point in your life, if you're lucky, you get to design the way in which things evolve." - Daniel Day-Lewis
The 2017 KPMG Insurance Survey includes a number of thought leadership articles that specifically focus on various aspects currently impacting the industry.
Our connectivity with the market has ensured that the thought leadership that we share in this issue is topical, interesting, inspiring and most importantly, what you want to read. Whether you are interested in business, regulatory, tax or accounting topics – we have it covered in this edition.
This edition is future bound – We take a brief step back into the history of insurance and then speedily fast forward to what insurance could and should look like in the very near future. This edition is not for the faint hearted and will create a curiosity and excitement that will make you realise that your business should be on a journey to evolve.
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See below for the individual articles ...
Dan Ariely, a world renowned behavioural economist, has described the current insurance model as pretty close to the model you would build if you wanted to get people to behave badly. In part, this is due to the incorrectly designed incentives that are inherently present in the insurer-customer relationship.
Will the presence of the Millennial in the customer base influence the traditional insurance industry? The short answer is yes. Millennials are the new age customer across all industries that surely challenge organisations to rethink their ‘business as usual.
Today’s leading financial services companies are operating in a new and more complex environment; one where the fundamental definition of how customers experience and interact with an insurer is being challenged and redefined.