Remaining resilient in a modified insurance coverage income panorama


The insurance revenue landscape has changed radically over the past year and will continue to change. In this series, I’ve discussed the nature of this change and how insurers are practically reinventing their business. The only question left is: where to go next?

As traditional revenue is slowly being replaced with innovation-driven revenue that reflects changing customer needs, insurers are forced to move their business. Our insurance sales landscape for 2025 has identified the following four innovation areas.

  1. Products and services for health, wellness and life
  2. Sharing economy, climate change and cyber threats
  3. Technology integration into traditional products
  4. Changeover to alternative distribution

This is a helpful guide, but the real measure of resilience and market relevance will be in how insurers respond to these trends. We suggest starting with the innovation areas where your company has an edge based on your current business portfolio and market positioning.

Take the example of AXA XL Risk Consulting, which used its existing risk assessment knowledge with a digital advantage. The insurer recently launched Risk Scanning, a new global risk assessment service. at combines the expertise of AXA XL’s risk consultants with data mining skills and probabilistic algorithms to carry out multi-risk assessments of the physical locations of a company. Risk Scanning enables risk managers to rate their company’s locations by region, country, or hazard, giving them a better understanding of their risks. This enables them to implement risk management and risk transfer strategies that are better tailored to customer needs.

Technology Vision for Insurance 2021 – We outline five emerging technology trends that will affect the insurance industry in 2021 and beyond.


Global innovation trends do not look the same in every market. The four innovation areas outlined above apply to any market, but will be successful if carefully adapted to the needs of that region. Vitality, for example, is the world’s largest scientifically proven wellness program. By gamifying key facets of health and wellness such as exercise, healthy eating, regular checkups and more, Vitality motivates its members to live healthier lives, thereby reducing their medical costs. In November 2014, the Generali Group entered into a partnership with the financial services provider Discovery to apply the program in Europe, which led to a successful rollout in Italy, Germany, France and Austria.

Sometimes the geographic and regulatory environment makes certain innovations more relevant. Climate change, for example, is a priority area for Europe. Zurich UK is an insurer that has recognized this and has started implementing the systems to promote sustainability. As there is a considerable amount of underutilized data in the building management system, Zurich UK has teamed up with technology partner GWTi to extract this data, analyze it and present it to customers in a way that is understandable and ready for action. Based on the analysis, evaluations are presented to the customer both through a “60-day health check report” and a live dashboard, which enables the customer to monitor changes himself and identify potential for improvement. Since sustainability and efficiency are becoming a central issue for insurance customers, it makes sense to think about how customer needs in this area can be met. Building telematics is still new and Zurich is the first insurer to offer a solution that covers both risk and sustainability.

To secure future revenue, insurers need to rethink how they can add value to their customers. This isn’t as daunting as it might seem. By leveraging their existing strengths and understanding geographic and customer needs, insurers can pivot successfully.

For more insights, read the Insurance Revenue Landscape 2025 report.

Contact us to discuss your innovation strategy.

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