Opportunities for insurers to collaborate with tech firms are expected to increase over the coming year , according to John Cusano , senior managing director of global insurance at Accenture . As these tech firms mature they are likely to align themselves with big partners . As a result , insurers that have already introduced digital distribution strategies and back - end solutions in partnership with tech start - ups will amplify their advantage , while other insurtech firms will merge to pool research and market expertise in response . However , Cusano warned cultural differences between start - ups and big partners could lead to a lack of focus that undermines competitive advantage .
Opportunities for insurers to collaborate with insurtech firms are expected to shrink over the coming year, according to John Cusano, senior managing director of global insurance at Accenture. As emerging tech firms mature they are likely to align themselves with big partners. As a result, insurers that have already introduced digital distribution strategies and back-end solutions in partnership with tech start-ups will amplify their advantage, while other insurtech firms will merge to pool research and market access in response. However, Cusano warned cultural differences between start-ups and big insurers could lead to a lack of focus that undermines competitive advantage.