From admin systems to ecosystems: Enhancing services through partnerships

Administration systems are emerging as natural hubs for digital ecosystems. They already provide the technology that runs many key administrative functions for their clients and have pre-existing integration frameworks.

McKinsey estimates that 30% of global economic activity – $60 trillion – will be mediated within ecosystems by 2025. The long-term trend for most industries, including insurance, will be that businesses no longer exist as single, self-reliant entities but as part of an ecosystem that directly or indirectly supports each other through common resources, ideas, technologies and services.

This report focuses on what an insurance ecosystem looks like and the role that administration systems can play in enabling their growth.

Topics covered include:
• How to build, manage and differentiate your ecosystem.
• How the ecosystem model creates opportunities for technology and data companies to reach new customers and distribution channels.
• Ecosystems, admin systems and legacy systems.
• The benefits of ecosystems to admin system providers.
• InsTech members - the admin ecosystem providers.