In auto insurance, processing a single claim event requires a multitude of smaller transactions that involve customers, lenders, collision repairers, auto manufacturers, parts suppliers, medical providers and others. These transactions hinge on an elaborate web of decisions and data, which ultimately shore up transaction costs while increasing the likelihood of fraud and claims leakage. In…
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As cars get smarter, the volume and granularity of real-time data generated is on the rise. With connected cars set to grow further, newer opportunities for digital innovation are springing up across the auto insurance value chain, bolstered by growing ecosystems. While consumers gain in increased convenience, AI-enabled connected platforms deliver cost savings and multiple…
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The business ecosystem paradigm is not alien to the healthcare industry. In the past, players ranging from payers to providers as well as big tech companies, have led initiatives to build ecosystems as a means to integrated, value-driven care. There were notable successes among health maintenance organizations, such as Kaiser Permanente, but most of the…
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Digital ecosystems, orchestrated by powerful platform businesses and crisscrossing traditional industry sectors, are estimated to top 30% of global economic activity by 2025. While Amazon, Google, Alibaba, Tencent are early pioneers, others are shaping up across strata, in B2B as well as B2C. They thrive by efficiently matching supply with demand while solving deep entrenched…
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