Risky Business

Risk management is changing.  

Being grouped with other policy holders is out. Individually assessed assets is in.  

The rise of technology has now allowed us to individually monitor assets, how they are used, how they are changing, what risks are starting to appear and how they are maintained.  

The traditional insurers will find it hard to change their incumbent business models, however maybe this will be required to stay in the game.  

The game is changing fast. If you are a consumer who wants to be treated based on your behaviour - then it makes sense for you to choose an insurer that can offer this.  

The customer relationship will change. We see this going from a passive ‘pay my premium and only speak to the insurance company when I have a problem’ to one of constant automated communication to get the best results.  

We aren’t sitting back on this one. We are driving the change.