Innovation Labs, Hackathons Proliferate Across Insurance
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A clear trend that is on the rise heading into 2016 is insurance companies opening innovation labs — like Progressive’s Business Innovation Garage and John Hancock’s Lab of Forward Thinking — and holding hackathons.
“You have more insurers saying they want to use innovative technologies, and trying to transform their businesses in the way they’re collaborating,” says Ellen Carney, an insurance analyst for Forrester Research.