New research published by Capgemini and Efma shows that, for the first time, 50% of insurance customers are willing to consider coverage from new-age digital players, as incumbents seek strategic partnerships to remain competitive.
The World InsurTech Report 2021 notes that insurtechs and big tech players are leveraging significant capital inflows to boost technological development and fuel innovation, putting pressure incumbent insurers.
Many consider new age digital players to be offering greater personalization and emphasis on customer experience, in response to which insurers are increasingly looking to partner or acquire insurtechs.
