An SMA Research Report
- Author(s):
- Deborah M. Smallwood, Senior Partner
- Karen Furtado, Partner
- Mark A. Breading, Partner
- Karen Pauli, Principal
- Publication Date:
- January 29, 2020
- Number of Pages:
- 17
- Price:
- $1,495.00 USD
The commercial lines insurance industry is in a historic time of transformation. External forces are pushing against tradition and culture at an unprecedented rate. What strategic initiatives are commercial lines insurers embracing to deal with these forces? And what is the maturity level of these initiatives? For the first time in many years, there is an uptick in the percentage of insurers that indicate they are merely surviving or sustaining versus those that are growing and innovating. This widening gap is not insignificant!
This report provides survey data, insight, and analysis around the business drivers that are compelling commercial lines insurers to develop strategic initiatives. Additionally, information on the top thirteen strategic initiatives is presented, highlighting the maturity of activities. InsurTech and transformational technologies are also critical elements in most strategic initiatives. The report provides an analysis of the direction that commercial lines insurers are taking in these two areas. Product segment highlights are included across all areas of the report.
Table of Contents
- The Strategic View 3
- Transformation and Bifurcation
- Drivers of Transformation
- Strategic Initiatives 5
- Traditional Initiatives
- Transformational Initiatives
- InsurTech and Transformational Tech Approaches 13
- InsurTech Approaches
- Transformational Tech Approaches
- SMA Call to Action 15
- About Strategy Meets Action 16