The challenge to innovate for insurers is speed to market and organizational agility are generally not great for new product development. This is due to several factors such as legacy infrastructure, functional silos throughout an organization, regulatory approvals, poor leadership and lack of the right culture for change. The challenge for insurers continues to escalate as the insurance world is accelerating its digital agenda, and consumer expectations along with technology continuously evolve.

Fortunately, there are cases such as Amerisure’s that show just one example of how an insurer can innovate successfully. They did so by being creative, high collaborative, establishing strategic partnerships, and having the support from senior leadership.

We think the Amerisure initiative described in this report is the perfect example of digital technology and product development alignment to meet ambitious business objectives. This program utilized resources from across the whole company as well leveraging external partnerships for technology. The result helped Amerisure gain the flexibility and speed to expand in the US market.