Whitepaper & Trend Studies September 03, 2024

The Insurance Industry’s Pivotal Transformation

Visualising the future state of an insurer thriving due to ecosystem-driven principles contrasts sharply with the monolithic operating models still dominating the present. PAC considers that those insurers who cultivate an ecosystem-driven mindset accelerated through service-provider relationships will build a technological and organisational foundation ideally positioned to thrive amidst the industry’s evolution.

It is evident to PAC that the insurance industry stands at a pivotal juncture, facing rapidly evolving customer expectations that challenge traditional operating models and drive a quickly changing landscape. PAC considers that the demands on the industry being driven by consumers and businesses are akin to what other industries have already experienced and evolved because of. This report explores the critical business challenges insurers face today and emerging technologies' role in supporting and enhancing existing workflows and creating new product and engagement models.

The white paper is available for download.