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December 18 2018 | Mark Breading

The insurance industry is in the midst of a renaissance with new types of activities and developments around every corner. There are new entrants, new partnerships, new business models, new investments, and new products being revealed to the market on a daily basis. In 2019, SMA expects more and more of the “new.” In the coming year, SMA expects to see:

  • SMA 2019 Predictions MarkVenture Capital – We will see an increase in investment in InsurTechs from insurers’ Corporate Venture Capital arms. A great deal of money has been set aside but is currently unallocated.
  • InsurTech – We will also see an increase in InsurTech exits – especially more failures, more exits via acquisition.
  • Products – More insurers will venture into on-demand products, parametric offerings, cyber coverages, and IoT-based offerings.
  • Digital – There will be an upsurge of more digital brands or partnerships for digital “storefronts.”

This should not be mistaken for an “out with the old, in with the new movement.” It is true that all of these new activities are injecting innovation and energy into the insurance industry. But just as important is all the work going on behind the scenes to modernize and enhance the processes, technologies, and human resources that run the business every day and will be needed to support the new world of insurance in the future.

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To learn more, please contact:
Mark Breading
Strategy Meets Action