There are typically four main aspects of insurance: product design, pricing and underwriting, distribution and admin, and claims management. This model has been the same for decades and, despite of the increase in product complexity, the insurance business is essentially relying on policy premium income and asset management to function. However, the rise of disruptive technologies and the shift in customer mind set is changing this model. Insurance companies are forced to change from a product-centric to a customer-centric approach.