Home Digitaledge Digital Economy

Go for the low-hanging fruit: How traditional insurers can compete with insurtechs

Greg Crowl
Greg Crowl 6/20/2022 11:45 AM GMT+08  • 6 min read
 Go for the low-hanging fruit: How traditional insurers can compete with insurtechs
What are the three digital transformation areas that’ll help insurers deliver big results in a short amount of time? Photo: Pan Yunbo/Unsplash
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

When it comes to the insurance industry, it’s a jungle out there.

It’s true the global insurance industry is forecasted to reach a new record in premiums, surpassing US$7 trillion by this year’s mid-way point. But it’s also well recognised the year will be filled with many challenges. Increasing inflation, economic uncertainty, stringent regulatory demands, cyber security, and the impact of merger and acquisition (M&A) activity have made for quite a rocky path.

Traditional insurers must contend with another obstacle in addition to these challenges – a new enemy lurking among the vines and branches stealing customers. I’m talking about the rise of insurtechs.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now