We need to talk about disruption gives a realistic take on the perception of disruption in the insurance industry. The article is a challenge to incumbents, that technology disruption is inevitable and they must evolve now. We have summarized the key points in this infographic, and read the full article here
To conclude, Digital disruption is inevitable. No matter how much the traditional insurance industry resists the change, it will force them to change if they wish to survive. Even though these non-traditional entrants (like Amazon, Google, Tesla) do not have the technical expertise in insurance, they have the technical expertise in IoT, AI, Analytics etc. Whereas the incumbents who know insurance but have no technological expertise. If both these sides join forces, they have the potential to bring about a positive disruptive change in the industry.
The complete article can be read at: We need to talk about disruption