The past decade has seen disruption become a key catchphrase in business, politics and public thought, as the impact of disruption spreads across economies. While this disruption may manifest as new business models, and the upending of old ones, it is technology that is enabling all of this change.

The insurance sector is being particularly affected by disruption. Smartphones have created a new means of distributing insurance products and lodging claims. The vast amounts of data generated and collected each day create opportunities for better underwriting and new products. Furthermore, the importance of digital assets has created opportunities for new insurance products, such as cyber-insurance.

With the speed and volume of change and disruption ever increasing, we could write a book on the trends and likely impacts of technology and disruption in the insurance sector. This article just focuses on three areas that continue to affect the insurance sector in 2019 and beyond:

  • the ongoing impact of digital transformation on business models and operations
  • the use of artificial intelligence and
  • the partnering of incumbent players with insurtech startups.

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