Insurance Agent Blog

Charting Insurance Disruption
/ Categories: Trends

Charting Insurance Disruption

At Insurance Thought Leadership, Denise Garth offers 5 Charts on Insurance Disruption. Denise is a senior vice president at Majesco, a leading insurance technology firm that has been monitoring trends and disruption in the property-casualty and life-health industries. The charts offer a snapshot of high-level forces disrupting the industry, and how they connect and combine.

The first chart (pictured) is Majesco's model reflecting forces that are disrupting the industry. It maps out major forces and trends from the Industrial Age to the Information Age to the Digital Age. 

The subsequent charts map against these three ages:  

People trends - covering generational, population, economic, home, vehicles, social & mobile, needs & risks, and customer experience

Market boundaries - covering industry, distribution channels, economy, business models, and competitors

New entrants - highlights many new global entrants in the insurance sector

Shifts in industry - covering business models, distribution channels, customer interaction, product, risk management focus, and partnerships

Garth's post offers some perspective on each of these charts, but for more information, you can access a full copy of Majesco's report: Future Trends- A Seismic Shift Underway. Of the report, Majesco says:

"There may be millions of articles out there, but there are three key forces – People, Technology and Market Boundaries – that are driving changes in the form of new expectations, new innovations and new competition.  This report will describe the components that make up these forces, the implications they have for the insurance industry, and what your company can do to seize the opportunities they present."

Previous Article Workers Comp: Masseuse as Independent Contractor
Next Article Producer Compensation Roundup

Subscribe to Renaissance Alliance Subscribe


Contact Us

Renaissance Alliance
981 Worcester Street, Wellesley, MA 02482
Toll-free: 800-514-2667
Fax: 781-431-0222

Click here to get directions



Search our site:

© 2019 Renaissance Group/Renaissance Alliance