As IT Services continues to become more specialized, demonstrating domain expertise to the market has become more important. Recently, Capgemini announced its deep dive in the insurance space and in particular the impact technology is having on players both large and small. In a nutshell, traditional insurance providers will find it necessary to proactively partner with InsurTechs, particularly those running marketplaces.
“As the insurance marketplace evolves, insurers will move beyond their traditional role as payers covering customer losses to partners that identify and forecast risk, helping with insurance and related non-insurance needs,” comments Anirban Bose, CEO of Capgemini’s Financial Services Strategic Business Unit and Group Executive Board member. “To deepen customer relationships, insurers will have to collaborate more with InsurTechs who are already mastering the customer experience by leveraging the most innovative technologies and use of data.”
Secretary General of Efma Vincent Bastid also chimed in, “Insurers will benefit from partnerships with InsurTechs as the marketplace becomes more crowded,” further adding, “The data shows that insurers and InsurTechs are eager to partner with each other, which will ultimately benefit the customer in the form of more advanced products and services.”
Capgemini is driven by the conviction that the business value of technology comes from and through people. It is a multicultural company of over 200,000 team members in more than 40 countries. In 2018, the group reported global revenues of EUR 13.2 billion.