Income Insurance: From unmet needs to thriving ecosystem

BUSINESS headlines are often dominated by technology, e-commerce and other trending sectors of the day. But away from the limelight, insurance – traditionally seen as stable and predictable – has quietly undergone its own radical transformation, as digitisation erases traditional industry boundaries.

Insurers no longer compete solely on products but on their ability to integrate prevention, assistance and hyper-personalised services. The key is creating “ecosystems” – interconnected networks of services that fulfil diverse consumer needs.

Ecosystems are estimated to drive 30 per cent, or US$60 trillion, of global revenues this year, reshaping industries from healthcare to mobility.