Snapping at your heels

Jack Welch, the former CEO of GE, once said: "If the rate of change on the outside exceeds the rate of change inside the end is near."

Advances in technology, the ensuing shifts in consumer behaviour and the arrival of new competitors in the form of tech start-ups have already caused waves of change as well as corporate casualties in industries ranging from telco through media to travel.

Many are suggesting that financial services, and in particular insurance, might be the next industry to be hit