The insurance industry cannot maintain the status quo for marketgrowth. As 2017 kicks off, consider the biggest drivers ofchange:

  • Customer expectations: Clients expectconvenience and transparency and have greater ability to find itthan ever before.

  • Pace of innovation: Customers have a need fornew insurance solutions, but incumbents are struggling to provideappropriate products and services.

  • Start-ups: New players that innovate quicklyare filling the gaps.

This year, monitor the following insurance industry issues,which will create an environment that is positioned for growth:

1. The rise of insurance tech

There are several business challenges that established insurersare facing as they try to meet new customer needs while improvingcore insurance functions. A specific focus on insurance technology, or “InsurTech,” has emerged to helpinsurers solve these challenges.

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