Recent Release | 14 Nov 2021

The platform-fueled future: New ways to differentiate in a changing insurance industry

Thought Leadership Team

Oxford Economics

IBM’s Institute for Business Value and Oxford Economics surveyed 1,000 business insurance executives in 35 countries globally in June and July 2018. The survey centred on the role of platforms, platform strategy, and participant readiness.

Insurers are wary of adopting new technologies and new platforms – investment in that industry platforms increased only by 7 percent, with only 21 percent of respondents having adapted their business strategies to include platforms. Previous surveys show that insurers view platforms and new technologies as disruptions however, few believe those disruptions affect their own businesses. To remain competitive in the market, insurers must adjust their business strategies to include platforms, select the correct platform, and work with their ecosystems partners to maximize the values of the platforms used.

About the team

Our Thought Leadership team produces original, evidence-based research made accessible to decision-makers and opinion leaders. Principals for this project included:

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