Administration systems are emerging as natural hubs for digital ecosystems. They already provide the technology that runs many key administrative functions for their clients and have pre-existing integration frameworks.
McKinsey estimates that 30% of global economic activity – $60 trillion – will be mediated within ecosystems by 2025. The long-term trend for most industries, including insurance, will be that businesses no longer exist as single, self-reliant entities but as part of an ecosystem that directly or indirectly supports each other through common resources, ideas, technologies and services.
This report will focus on what an insurance ecosystem looks like and the role that administration systems can have in enabling their growth. We explore how you build, manage and differentiate your ecosystem, whether this is from a legacy system or from scratch. InsTech is also covering the opportunities that the ecosystem model creates for technology and data companies in reaching new customers and distribution channels.
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