quarterly-insurtech-briefing-q4-2017
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Incumbent InsurTech Strategy<br />
(Re)insurance Innovation Survey<br />
Financial Performance vs.<br />
Competitors – LTM<br />
58% rate their company’s financial<br />
performance as “high” or “very high”<br />
vs. primary competitors…<br />
Level of Innovation<br />
vs. Competitors – LTM<br />
…But 55% rate their company’s<br />
innovation as average or worse<br />
Appetite for Risk<br />
Associated with Innovation<br />
…And 59% do not think their<br />
companies are risk-seeking when it<br />
comes to innovation<br />
Very High<br />
16%<br />
Very High<br />
14%<br />
Very<br />
Risk-Seeking<br />
6%<br />
High<br />
42%<br />
High<br />
32%<br />
Risk-Seeking<br />
35%<br />
Average<br />
33%<br />
Average<br />
37%<br />
Neither Risk-Seeking<br />
Nor Risk-Averse<br />
33%<br />
Low<br />
6%<br />
Low<br />
15%<br />
Risk-Averse<br />
23%<br />
Very Low<br />
3%<br />
Very Low<br />
2%<br />
Very<br />
Risk-Averse<br />
3%<br />
Risk of Disruption from<br />
Emerging Technologies<br />
3 out of every 4 respondents believe<br />
their company is moderately to<br />
extremely at-risk of disruption…<br />
Innovation Resource<br />
Allocation<br />
…But 72% of company resources are<br />
devoted to incremental innovation<br />
(vs. disruptive/radical)<br />
Innovation Philosophy<br />
…And 46% describe their<br />
company’s innovation<br />
philosophy as “ad-hoc”<br />
Not At All<br />
Slightly<br />
6%<br />
18%<br />
Incremental/<br />
Continuous<br />
72%<br />
First Mover<br />
27%<br />
Moderately<br />
48%<br />
Fast<br />
Follower<br />
27%<br />
Very<br />
Extremely<br />
4%<br />
25%<br />
Disruptive/<br />
Radical<br />
28%<br />
Ad-hoc, neither<br />
first mover or<br />
fast follower<br />
46%<br />
Most Innovative<br />
(Re)insurance Company<br />
Munich Re, Lemonade, AXA and<br />
Swiss Re viewed as most innovative<br />
Level at Which Innovation<br />
Function Reports<br />
Innovation reports to the C-level at<br />
more than half of companies<br />
Primary Orientation<br />
Toward Innovation<br />
Only 12% believe acquisitions<br />
are their organization’s primary<br />
orientation toward innovation<br />
>10% of<br />
Responses<br />
Board of<br />
Directors<br />
14%<br />
Buy<br />
12%<br />
>5% of<br />
Responses<br />
CEO<br />
CxO<br />
20%<br />
35%<br />
Build<br />
48%<br />
>2% of<br />
Responses<br />
EVPs/SVPs<br />
None/<br />
Decentralized<br />
10%<br />
18%<br />
Partner<br />
40%<br />
Other<br />
4%<br />
Quarterly InsurTech Briefing Q4 <strong>2017</strong> 40
Change language