An SMA Research Report
- Author(s):
- Deborah M. Smallwood, Senior Partner
- Karen Furtado, Partner
- Mark A. Breading, Partner
- Karen Pauli, Principal
- Publication Date:
- February 6, 2020
- Number of Pages:
- 18
- Price:
- $1,495.00 USD
The personal lines insurance industry is in the midst of transformation. In fact, many insurers are striving to accelerate transformation within their companies. SMA research reveals a widening and alarming gap between those insurers that are actively transforming and insurers that are struggling to keep their heads above water. What strategic initiatives are personal lines insurers embracing to deal with the forces of change? And what is the maturity level of these initiatives? How do the InsurTech movement and the rapid advancement of transformational technologies play into insurer plans?
This report provides survey data, insight, and analysis around the business drivers that are compelling personal lines insurers to develop strategic initiatives. Additionally, information on the top thirteen strategic initiatives is presented, highlighting the maturity of activities. The report provides an analysis of the direction that personal lines insurers are taking regarding InsurTech and transformational technologies.
Table of Contents
- The Strategic View 3
- Industry Evolution Continues
- Drivers of Transformation
- Strategic Initiatives 5
- Traditional Initiatives
- Transformational Initiatives
- InsurTech and Transformational Tech Approaches 14
- InsurTech Approaches
- Transformational Tech Approaches
- SMA Call to Action 16
- About Strategy Meets Action 17
- Use of Our Reports
- About the Authors