There could not be a better way to say it. With so much hype, it's nice to hear directly from the CEO community on their view and, as put in simple terms by Evan Greenberg of Chubb, change is coming.
“Change is coming. I listen to a lot of loud talk these days…and I do think some of the talk is ahead of the reality at the moment. But with that said, change is coming. And we are not alone in terms of carriers improving their capabilities, because of what technology brings that will lead that change. It’s around data, it’s around straight through process, it’s around data that improves the customer experience, while at the same time improving your ability to select risk and to do it quickly i.e. in seconds and to be able to then straight through process business. It’s claims on the other end, almost certain co-boarded claims that can be settled the same way. These capabilities will improve the intermediary ability to sell and service the business at a lower cost