Robin Merttens, an independent consultant and analyst in the London insurance market, takes a provocative look at solving the insurance industry’s innovation inertia

Merttens suggests facing up to reality- that insurers are mostly run by an "analogue generation" who want to see out their careers working in a legacy manner in which their skills remain relevant.

His solution- admitted as being slightly tongue-in-cheek- is to split insurers in two. One traditional half in which the customers that prefer that are kept and one "uberized" to which digitally savvy employees and customers migrate.

The analogue one will die on its feet but may take ten to fifteen years to do so. Will the rejuvenated digitally transformed half win?

Recent McKinsey research shows that just one or two digital transformers will win the lion's share of profits. See "Winner takes most in digital transformation"  

So if you can't give up "Analogue Co" you had better be ready to let "Digital Co" run the digital transformation race.

Merttens points out that Achmea in the Netherlands split into analogue and digital halves. "InShared"  now serves 150,000 policyholders with around 35 employees with no human touch other than a couple of  claims handlers in a call centre.

Worth reading the full article linked below