DEVISING AN OVERALL STRATEGY : TO COLLABORATE OR DISRUPT ?
“ InsurTechs aren ’ t only challenging established industry incumbents ; they are challenging decades-old laws and regulations ”
— Keith Rutman , Senior Vice President , Saggezza
DEVISING AN OVERALL STRATEGY : TO COLLABORATE OR DISRUPT ?
Although the best examples of InsurTech are often at the frontier of the sector , Rutman believes that an optimal digital strategy within insurance is not necessarily different than anywhere else . Namely , it should revolve around quality content , have cutting-edge analytical facilities and be highly data-focused . According to him , the more pertinent question should consider the following : should InsurTech deliver the same products and services simply in a better way , or is it better to let technology chart a course for realising new potential . “ Part of any strategic considerations have to be ‘ implementability ’,” he clarifies . “ Insurtechs aren ’ t only challenging established industry incumbents ; they are challenging decades-old laws and regulations that never contemplated things like digital signatures , fractional insurance and the use of non-traditional data sources in underwriting and pricing risk .”
This brings us to another strategic consideration : collaboration versus disruption . While disruption certainly has its place in any tech-related
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