Great insight and commentary from Parul Kaul-Green of Axa, who regularly engages with innovators to try and identify ways in which her firm can collaborate with them.
I would highly recommend taking the time to read the entire post, and shall let it speak for itself.
when new technologies change the world, some companies are caught off-guard. Others see change coming and are able to adapt in time. Then there are companies like Kodak — which saw the future and simply couldn’t figure out what to do. Traditionally, it has been the insurance industry’s job to pool and share risk and pay claims. However the nature of risk, intermediation and asset ownership is evolving. We are moving from owning houses, cars, offices and other assets to sharing them. The gig economy is changing the nature of employment and autonomous mobility is taking away human input and replacing it with artificial intelligence. The lives of our customers are changing profoundly as are their insurance needs.