The end of a decade is a time for reflection. Looking back at the Digital Insurance Library over the last 12 months, there are two key observations I would make. 

There has been a good deal of movement towards greater digital transformation within the insurance industry, and yet little seems to have changed. 

The French have a saying which is perhaps more apt – "plus ça change, plus c'est la même chose" – or the more things change, the more they stay the same. 

While there appear to be more launches, and greater innovation, many of the insurers in more mature markets believe they are keeping up with the pace of change. However, there is little evidence that they should be this confident, as a report from Deloitte suggests.

And NTT Data’s report offers five key developments insurers must make to become a digital organisation.

Accenture, meanwhile, advises companies to become “living businesses” if their development is to be sustainable. 

There are a number of fascinating insights into the ways in which artificial intelligence (AI) is being used today to transform business in the Cognizant report. 

Failure to do this is amply demonstrated in Tällt’s summary of the dangers that the tech giants Goocle, Amazon, Facebook and Apple  (GAFA) pose to insurers that don’t start their transformation now. 

The paper from Cake & Arrow shows that there’s more to engagement of millennials than convenience. Insurers will have to align their corporate culture with the ideals of this group if they are to convince them to buy insurance products. 

Cyber crime remains a increasing risk for all businesses and though approaches are becoming more sophisticated, the human element remains the greatest risk. 
McKinsey’s report into engagement in the US healthcare industry shows how common sense and better organisation is reducing cost and providing patients with a better clinical experience than the current practices. 

Finally, the report from Aging Analytics highlights the work being done across borders to share data to better understand longevity in order to shape the future of social policy, national healthcare programmes and the insurance market.

Have a great start to 2020.