InsurTech Futures: Brokers face disruption from start-ups, warns PwC's Howe
PwC global InsurTech leader Jonathan Howe urges brokers to respond to innovation in the sector.
Brokers will be disrupted by InsurTech start-ups if they don’t respond to developing technology, Jonathan Howe, global InsurTech leader at PwC has warned.
Howe explained that a lot of the innovation currently happening in the InsurTech sector is directly relevant to brokers.
“At the starting point this isn’t disruptive because it all enhances the business model and can help incumbents do what they do better,” he continued.
“But a lot of what InsurTechs are focusing on could be very disruptive
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