Industry perceptions towards technology have passed a tipping point, according to Juergen Petzold and Thomas Krapf. But the next step in the road of insurance evolution is not likely to be as straightforward as we might believe.
What a difference a decade makes. e-Business has developed by leaps and bounds in the reinsurance and large commercial insurance industry in the last 10 years, and the list of projects continues to expand.
For starters, email has naturally become the dominant channel to exchange business documents. A series of proprietary carrier solutions have gained solid acceptance in the market and a series of e-business initiatives such as the Lloyd’s Exchange, the Qatar Insurance Exchange and the Rueschlikon Initiative are in the pipeline.
It would appear that e-business is now considered an opportunity rather than an obstacle.
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technology, e-business, ACORD XML, Hannover Re, ecoperform GmbH