Insurance trends 2017

2Copyright © Capgemini 2016. All Rights Reserved
Insurance Trends 2017 | December 2016 | Financial Services
Nascent Technologies
Insurance
Trends
2017
Insurers are leveraging digital and mobile for risk
management and better customer experience
New products are being designed by insurers
for the sharing economy
Insurers are using value-added services for
differentiation and building customer
relationships
Advanced data analytics is being
leveraged for driving profitability and
enhancing customer experience
Insurance distribution is being redefined due to
tools creating greater market transparency and
new channels such as chatbots
Value chain disaggregation is creating new
InsurTech partnership opportunities and
greater need for customer engagement
Insurers are exploring automation and Artificial
Intelligence applications across the value chain
Blockchain is finding use cases in insurance
that stand to improve operational efficiency
Augmented reality is being explored for multiple
applications in insurance
Internet of Things (IoT) is finding active interest
from insurers as it enables new models and
creates a strong data pool
Insurance Trends 2017

Insurers leverage digital and mobile for risk
management and customer experience
Source: Capgemini Financial Services Analysis, 2016;
Life
Insurance
P&C
Insurance
Health
Insurance
M-Health and telemedics,
population health management,
provider-payer integrated management
Increase in mobile-based products and
services provided by InsurTech firms
Driver feedback apps,
Informative apps on environment risks,
GPS-enabled emergency assistance

Insurers are using value-added services for
differentiation and building customer relationships
Life and Health Insurance Property and Casualty Insurance
Health management apps
Customer care packages
Enabling cost savings
Enabling healthcare access
Allied services
Home monitoring and roadside
assistance
Concierge services
Property selection and management
Lifestyle management
Enabling cost savings
Allied services

Advanced data analytics is being leveraged for
driving profitability and customer experience
Automated Underwriting
Insight-Driven Profitability Strategies
Claims Optimization
Driving Profitability Customer Experience
Personalized Offerings
Streamline Front-End Processes
Agent Empowerment for Better
Customer Service

New products are being designed by insurers
for the sharing economy
Insurers are partnering with ride-sharing companies to offer
coverage at all stages of the trip
A range of InsurTech firms are offering products for home-sharing
$46M
Economic impact of
Uber’s operations in
Chicago in one year
Source: Capgemini Financial Services Analysis, 2016; http://www.pco-bcp.gc.ca/index.asp?lang=eng&page=innovation&doc=rpt1/index-eng.htm#7

Insurance distribution is being redefined by
new channels and digital tools
Source: Capgemini Financial Services Analysis, 2016; https://www.getinsured.com/default/about; https://letstalkpayments.com/80-hottest-insurancetech-companies-shaking-up-the-trillion-dollar-insurance-
industry/
Market Transparency
Research tools that create market
transparency and increase pricing pressure
Direct Small Business Insurance
Direct channels and online comparison
platforms for small business market
Chatbots
Software programs which can
communicate with humans using AI
1.5
mn
The approximate
number of Americans
who enrolled in health
insurance through
GetInsured

Value chain disaggregation is creating need for
partnerships and better customer engagement
Source: Capgemini Financial Services Analysis, 2016; https://letstalkpayments.com/80-hottest-insurancetech-companies-shaking-up-the-trillion-dollar-insurance-industry/
Distribution
Marketplace platforms,
Value-Adding
Intermediaries
Underwriting
Predictive software,
Underwriting tools
Servicing
Policy management apps,
Property management apps
Claims
Claims handling, Fraud
detection, Claims reporting
Increasing distance between insurers and customers and diluted brand loyalty
as customers adopt one-stop apps for buying and managing all their policies
Need for developing the right partnerships and integrating with
multiple partners
Increase in focused specialization by insurers

Blockchain is finding use cases in insurance
that stand to improve operational efficiency
Smart Information
Assets
Smart Contracts
Claims Fraud
Detection
Decentralized
Autonomous
Organizations

Insurers are exploring automation and Artificial
Intelligence applications across the value chain
Firms have to enhance
technology infrastructure
Source: Capgemini Financial Services Analysis, 2016
Quicker, error-free
transactions
Data standardization
across value chain
More focus on front-
office solutions
Speedy claims
processing

Internet of Things (IoT) is finding active interest
from insurers for building data and new models
$235
bn
Size of the smart home
market by the end of
2016
Source: Capgemini Financial Services Analysis, 2016; “What opportunities do smart homes provide for insurers?”, Cindy De Armond, John Mulhall, May 18, 2015, accessed October 2016 at
http://www.propertycasualty360.com/2015/05/18/what-opportunities-do-smart-homes-provide-for-insu
Life and
Health
State Farm Connected
Care Program
Home
Insurance
Aviva - Homeserve
Commercial
Insurance
Munich Re - HSB IoT
Accelerator

Augmented reality is being explored for
multiple applications in insurance
Reduces training
costs
Attention grabber for
marketing
Customer insights
from AR usage pattern
Source: Capgemini Financial Services Analysis, 2016; “ Augmented/Virtual Reality to hit $150 billion disrupting mobile by 2020”, Digi-Capital, accessed October 2016
Claims investigation
and reporting
$120
bn
Estimated revenues
from Augmented
Reality by 2020

The information contained in this presentation is proprietary.
© 2013 Capgemini. All rights reserved.
www.capgemini.com
About Capgemini
Now with 180,000 people in over 40 countries, Capgemini is one
of the world's foremost providers of consulting, technology and
outsourcing services. The Group reported 2014 global revenues
of EUR 10.573 billion.
Together with its clients, Capgemini creates and delivers
business and technology solutions that fit their needs and drive
the results they want. A deeply multicultural organization,
Capgemini has developed its own way of working, the
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Insurance trends 2017

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