Insurance Transformed: Technological Disruption

Description

This book explores how a range of innovative disruptive technologies is about to combine to transform the insurance industry, the products it produces, and the way the industry is managed. It argues that unless current insurance providers react to these waves of disruption they will be swept away by new innovators. The book describes what insurers need to do to survive. The main aim is to get insurers to reimagine their industry away from the sale of a one-off product, into the sale of a series of real-time, data-based risk services. While parts of these disruptions have been discussed, this book is the first to bring all the issues together and unites them using a theoretical framework. This book is essential reading for insurance industry participants as well as to academics interested in insurance and understanding the key issues the industry currently faces. Front Matter ....Pages i-vii Exponential Change (Michael Naylor)....Pages 1-13 Key Technological Disruptors (Michael Naylor)....Pages 15-40 Types of Insurance (Michael Naylor)....Pages 41-45 The Impact of Disruptive Technology (Michael Naylor)....Pages 47-92 What Insurance Companies Need to Do (Michael Naylor)....Pages 93-174 Impact by Type of Insurance (Michael Naylor)....Pages 175-207 The Dynamics of Decline (Michael Naylor)....Pages 209-220 The Response of Incumbents (Michael Naylor)....Pages 221-262 Regulatory and Legal Issues (Michael Naylor)....Pages 263-279 Consequences for Insurance Workers (Michael Naylor)....Pages 281-295 Impacted Occupations (Michael Naylor)....Pages 297-319 Conclusion (Michael Naylor)....Pages 321-324 Back Matter ....Pages 325-337