Insurance Tech: The insurance platform of the future
Increasing pressure from new Insurance Tech competitors
Complex political, regulatory, legal and customer dynamics
Business as usual was dominating leadership time
Legacy business with technological debt
The client was generating >€10bn premiums in almost 20 countries. However, fast-growing customer-centric Insurance Tech companies were disrupting core markets. The client knew they needed to change quickly. Driven by a desire to show progress, they had rushed into identifying potential acquisition targets before firming up their strategic direction. There was a real risk of creating a patchwork of disjoint capabilities and inheriting legacy technological debt.
A blueprint for creating defensible ecosystem-based platforms
New business models based on data-driven insights and strategic partnerships
Strategic partnerships identified
A clear roadmap of acquisition targets and capabilities builds
Annual insurance premiums being disrupted
Arca Blanca led the design of a revolutionary new platform for one of the client’s core markets. This would use the client’s scale to create an ecosystem of strategic partnerships from across their value chain. For customers, this meant a superior and hard-to-replicate proposition and experience. For the client, it would disrupt the disruptors and create a blueprint for how this legacy business could create truly defensible market positions.
“Creating a platform is neither desirable nor feasible for most businesses. The remarkable success of a few large platform-based companies is more than matched by the struggles of those that didn’t survive. However, in this case there was a perfect opportunity to create a disruptive platform that would generate value for all participants.”
Gitte Ganderup, Partner, Arca Blanca