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Posts Tagged ‘disruption’
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June 27, 2016

Why disrupting insurance is hard and too few entrepreneurs are addressing the real problem

The insurance industry has been ripe for disruption for years and yet a quick walk around Leadenhall market where brokers bustle about with paper files under their arms reveals nothing has changed in decades.

Why is this?

From one perspective it’s very simple to answer: every player in the insurance market has been enjoying 10-20% net margins for over a century, so why would they want that to change? Lloyds of London tried bringing into their organisation technology innovation with Kinnect in 2002 but after £70m investment and 5 years, it was shut down. Hence, until the rise of fintech, insurance companies felt very [...]

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