We simply have to learn to reinvent the insurance industry around the way consumers want to interact, before the industry is reinvented for us. (Image: Shutterstock)
Most people who've worked a lifetime in the insurance industry may not see a direct parallel with how Amazon's aggregator model is reaching into virtually every aspect of consumer life, casting its shadow across an ever-lengthening list of industries, and channeling the direction in which technology is nudging insurance and financial services.
Yet, this is exactly the mindset our industry needs to become aware of and acknowledge, so as to adopt strategies to leapfrog the challenges we face. This means addressing evolving customer expectations by offering comparison pricing and transparency, new products and innovative services.
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