Innovation in Insurance in 2016: The Coming of Age

An SMA Research Report

Deborah M. Smallwood, Senior Partner
Publication Date:
December 6, 2016
Number of Pages:
$995.00 USD

This is the fifth annual report on innovation from SMA, and is based on a survey of insurers and observations regarding market activities. The report looks at the pace of adoption, what is triggering innovation, which business areas are affected the most, and how insurers are responding to the challenges.    

The report also addresses innovation practices, leadership, and culture, and considers the continued and growing impact of emerging technologies and how insurers are starting their quests to build more innovative companies.

Figure 1 is an example from the report that illustrates the what is triggering innovation. 


20161206 innovation report



Table of Contents

  • Quick Findings Summary 3
  • Introduction: Innovation Has Come of Age 4
  • Pace of Emerging Technologies Adoption 5
  • Who is Leading Innovation? 7
  • What Is Triggering Innovation in Insurance? 8
  • Which Business Areas Are Most Impacted By Innovation? 8
  • Impact Areas for P&C
  • Impact Areas for L&A
  • Where Are Insurers Starting? 10
  • Starting Approaches for P&C
  • Starting Approaches for LL&A
  • How Are Insurers Responding? 11
  • SMA Call to Action 12
  • About Strategy Meets Action 14
  • Use of Our Reports
  • About the Author