The insurance industry has changed significantly over the last several years with new risks emerging due to factors like cyberattacks, the sharing economy and the pandemic. Add in the constant technological evolution as carriers streamline their processes to better serve policyholders, and there have been a wide variety of changes. While insurers understand the importance of working with customers to identify and mitigate risks, sometimes it's easy to forget how important it is to collaborate in other areas, especially when it comes to implementing new technology.

Bryan Falchuk, the managing partner of Insurance Evolution Partners and the president and CEO of PLRB, has written a book, The Future of Insurance Volume III – The Collaborators (available on Amazon), which examines the relationships between legacy insurers and insurtechs, and the importance of partnership between these entities. He shares some insights in the latest Insurance Speak podcast.