Atos’ Vision on becoming an Agile Insurer – Surviving and thriving in Insurance

Agile Insurance: A vision for staying ahead of the existing industry’s burning platform

The insurance industry is feeling the heat. Just a few years ago, everyone’s biggest concern was compliance, market volatility, or low rates. Traditional operating models were set in stone. Insurers were protecting customers over the long-term, often deciding what was good for the insuree without transparency or clarity. Most insurers did not anticipate dramatic changes in customer expectations and behaviors. Others did.

Incumbent insurers – slow, steady, and previously successful – are now under threat from new, flexible players who are breaking the mold. These new players are geared to meet emerging customer expectations with innovative digital experiences powered by super-fast technologies.

New operating models are exploding onto the scene, well financed and often successful. For example, Oscar and Vitality offer preventive healthcare plans or pay-how-you-live insurance. Cuvva allows its customers to get insured on a friend’s car with hourly insurance available from their mobile phone. InsurPeer goes one step further,bringing together individuals under a peer-to-peer insurance system.

These new operating models are not limited to new players.Tokio Marine already provides temporary and context-driven insurance products. Charles Schwab is getting real traction with its combination of robo-advisors and long-term savings products that go beyond the traditional model for life insurance