Nearly two-thirds of insurers plan to engage with new digital partners in the insurance industry, according to a recent report by Accenture, Digital Insurance Era: Stretch Your Boundaries.
The report explained that forward-thinking insurers see great potential to make a difference – and to make a profit – by operating within ecosystems, and not just as individual corporate entities.
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The report said: "Working in concert with players from other industries, leading insurers are considering how to tackle significant challenges that societies, organisations and people will face in the future.
This theme of partnership is highlighted by the fact that 45% of insurers aim to find partners outside of insurance, according to Accenture.
At a strategic level, for example, the report said carriers may need to decide whether they want to own and manage data themselves, or do so in partnership with brands – Amazon, Google and Facebook, for example, that already control deep pools of personal data and have earned the trust of a vast proportion of consumers.
The report said: "Insurers have an opportunity to embed themselves in tomorrow’s customer-centric digital ecosystems, become the regulators of the disruptive technologies of the future and help to enable progress. This is an opportunity they should not squander."
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