New platform businesses offer P&C insurers a precious opportunity to expand and ramp up revenues
P&C insurance providers are fast realizing that digital disruption is as much an opportunity as a threat. They’re worrying less about digital technology eroding their traditional businesses. Instead, they’re looking at the benefits it can deliver. One of the reasons for this shift is the growing appeal of digital ecosystems. Throughout the world these ecosystems are spawning a host of “platform” businesses that generate value through multiple digital interactions between suppliers, partners and customers. It’s a phenomenon that’s changing the economics of business. Companies can now quickly build big, sustainable businesses without having to own extensive resources or production capacity.