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Digital Ecosystems are Extending the Boundaries of Value Creation in Insurance
By Yannick Even, Director, Head of Digital & Smart Analytics APAC, Swiss Re and Jonathan Anchen, SVP, Insurance Risk Research, Swiss Re
A large portion of the unbanked and uninsured population in Asia is already on mobile devices. The vast majority of the next billion middle class consumers will emerge from Asia; this population is a key segment for future insurance growth. Companies that can quickly transform mobile/digital ecosystem data into risk insights and tailor products and services could be winners. As a flavour of what to expect, it is interesting to see how financial services firms have leveraged scores built by tech giants in China, to onboard new customers and enhance traditional models.
Insurers with more complete knowledge of end customers can play a more active role within an ecosystem