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Top Trends in Insurance 2022 eBook by Capgemini

KEYLANE March 28, 2022

Covid-19 has accelerated the demand for insurance protection, and policy holders are now seeking coverage from non-traditional players such as InsurTechs and BigTechs.

The year 2021 was a year of transition for financial services companies, still reeling from the effects of the pandemic. Closures, social distancing, economic uncertainty and confusion about the future led to rapid changes in customers’ lifestyles and social behaviour. The year triggered unprecedented demand for end-to-end digital solutions, and incumbents struggled to rapidly advance their digitalisation efforts while dealing with distribution challenges, gaps in service and offering a compelling customer experience.

The clock is ticking for traditional insurers. To cross the threshold and stay ahead in the 2022 track record, insurers will need to deftly adapt and reinvent their business models and offerings. To do so, companies need data literacy, platform capabilities and the adoption of API business models.

These tactical and strategic initiatives will enable incumbents to become inventive players, continuously building their competencies in customer centricity, product agility, smart processes, embedded services and an open ecosystem to ensure profitable growth and future viability.

The Top Trends in Insurance 2022 eBook explores and analyses the variables we expect to shape the financial services ecosystem in the coming months.