Exploring New Insurance Business Models

On the verge of the 2020s many traditionally people-intensive services face digital substitution from smaller, nimbler, and more efficient online players, keen to cherry-pick lucrative market segments. The insurance industry is one example of an industry currently facing potential future competition from companies like Google, who have access to a range of data that allows them to tailor insurance products to customers willing to share their data. In order to prepare for the competitive challenge of new digital entrants in the insurance market, TRYG insurance, a leading Nordic insurance company, has agreed to co-finance a PhD project at Roskilde University to explore how best to organize efforts at business model innovation. The project runs from 2017 to 2020.