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Broker Innovation Lab

Innovation still eludes most insurers

Representatives of insurance companies worldwide say they know they must innovate, and quickly, if they are to remain competitive. But nearly half of those in a new survey say their employer is not supportive of the level of innovation that current market conditions demand.

By Dan Cook | Updated on September 18, 2015
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Representatives of insurance companies worldwide say they know they must innovate, and quickly, if they are to remain competitive. But nearly half of those in a new survey say their employer is not supportive of the level of innovation that current market conditions demand. KPMG gathered online input from nearly 300 insurance executives worldwide, and dug deeper with one-on-one interviews with more insurers.

What the researchers concluded was that a group of innovation-driven insurance companies will likely take the industry lead as others struggle to break out of tradition-bound ways of doing business.

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