Outside-In Competition Forces Insurance Industry Innovation

Outside-In Competition Forces Insurance Industry Innovation

66% of insurers agree that big data is enabling non-traditional providers to move into the industry. Download PDF.

Insurance companies need to add value in the competitive, connected and data-driven world of online products and services, all amid increased security risks and regulation.

Industry trends

New competitors are disrupting the industry by introducing digitally-driven business models that offer consumers new levels of personalization and choice. Established firms are now competing with cost and value comparison websites, non-conventional purchasing models, mobile/social products and customer services.

Key industry trends include:

  • Pricing pressures have intensified in an expanding market
  • Companies are tapping online and cloud-based services to innovate
  • Data analytics capabilities are becoming more essential, particularly as telematics develop 
  • Global demand is rising for self-serve insurance products
  • The value consumers place on recognized brand names is diminishing

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix operates a global interconnection platform of more than 200 International Business Exchange™ (IBX®) data centers in 63 metros across 26 countries.
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