The better the question. The better the answer. The better the world works. У вас есть вопрос? У нас есть ответ. Решая сложные задачи бизнеса, мы улучшаем мир. У вас є запитання? У нас є відповідь. Вирішуючи складні завдання бізнесу, ми змінюємо світ на краще. Meilleure la question, meilleure la réponse. Pour un monde meilleur. 問題越好。答案越好。商業世界越美好。 问题越好。答案越好。商业世界越美好。

The network revolution and the new insurance ecosystem

3-article series

As we know, and are experiencing first-hand, the face of business today is being redefined by unprecedented advances in technology, disrupting how we serve our customers and fulfil human needs.

In this 3-article series, we explore the changes to commercial enterprise, specifically through an insurance sector lens, and discuss how the confluence of technology and disruptive trends is transforming traditional business models.

What we’re seeing now is the demise of traditional industry borders as networks of interconnected businesses emerge, where customers are at the epicenter of the economy and value is created through connectivity and collaboration.

Traditional incumbents need not fear, as they are uniquely well placed to embrace the benefits of the network revolution and the new insurance ecosystem.

Contact us

Gerald Marion
Partner, Ernst & Young Services Pty Ltd, EY Advisory, Strategy and Innovation

Steve Psichalos
Partner, EY Business Solutions Pty Ltd, EY Data and Analytics

Chris Henderson
Director, EY Business Solutions Pty Ltd, EY Data and Analytics

Insurers are at risk of losing customer relationships to ecosystems with greater insights into customer’s needs. Only those that embrace the connected insurance model will survive.

Article 1 of 3: Creating value through connectivity

As traditional industry borders and business models fall away, we examine the potential for insurers to leverage the ecosystem model to deliver best-in-class customer experiences, and thrive in a connected community. Download the article.

By the year 2020 customer experience will overtake price and product as the key brand differentiator.

Article 2 of 3: Competing in a world of sectors without borders

Insurance incumbents are increasingly coming under threat from players they never expected to compete against. As developments in adjacent and completely different industries bring it closer to the insurance sector, is there still a place for traditional providers? Download the article.

“Begin with the end in mind” – Stephen Covey, The 7 Habits of Highly Effective People

Article 3 of 3: Becoming a leader of the digital marketplace

Being a successful digital enterprise requires more than investing in the latest technology. Our organizational change checklist will help hone your strategic thinking and guide you on your journey to sustainable success. Download the article.