Externally, the combination of Covid-19, volatility in financial markets and investments, as well as a record number of natural catastrophes, made 2020 a challenging year for
insurers and reinsurers alike. All of this comes in the midst of agile InsurTechs challenging the incumbents, while mostly focusing on distribution aspects and user experience enhancements.
On the internal front, industry players are facing an administration problem. Insurance relies on information and data exchange and has to address three main operational challenges: manual and paperbased processes, a lack of standardization and only minimal integration
of systems. Combined, these create increased administrative complexity as companies attempt to extract, communicate, transform and reconcile data.
Download
- Blockchain and DLT .pdf • 0,1 MB