1 2 3 4 5 Innovation DNA Constant innovation and thorough transformation are imperatives for insurance companies looking to not just meet but also exceed expectations in coming years. With mounting pressure from competitors and customers alike, insurers know they cannot afford to stand still. Around 58 percent of insurance executives surveyed this year believe that rapid advancements in new technologies and scientific innovations are poised to disrupt their industry. A transformation of this magnitude won’t be easy, and incremental change won’t be enough. But it starts in a familiar place. The path forward begins with a renewed focus on the building blocks that have allowed insurance companies to get to this point of opportunity in the first place: technology. To turn the enterprise into an engine for transformation, businesses must first assemble their unique innovation DNA. The building blocks of this innovation DNA include maturing digital technology that is more commoditized and accessible; scientific advancements that are discrete yet deeply disruptive; and emerging DARQ (distributed ledgers, artificial intelligence, extended reality, and quantum computing) technologies. 52 Technology Vision for Insurance 2020 | We, the Post-Digital People