The platform-fueled future

New ways to differentiate in a changing insurance industry

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Executive overview

Authors: Holger Münch, Senior Managing Consultant, IBM Global Business Services, Noel Garry, IBM Insurance Platforms Leader, Christian Bieck, Global Insurance Leader, IBM Institute for Business Value

How digital business platforms are transforming the insurance industry With bespoke legacy systems impeding innovation, leading insurance organizations are looking to industry platforms – often powered by entrepreneurial insurtechs and other tech providers – to reduce cost, enhance flexibility and most importantly, improve customer experience and engagement. Platforms are a game-changer, with adopters of platform business and operating models gaining a decisive edge over competitors. Based on a survey of 1,000 insurance executives globally, we explore how platforms will free up insurers to differentiate on what they do best: manage, mitigate and price risk.

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