Comfort levels rising with new insurance technologies and strategies

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While generational change is still buffeting the insurance industry, many insurers are becoming more comfortable with new technologies and changing from product into customer focused organizations. They are increasingly open to forming partnerships with InsurTechs and using technology and new ways of thinking to streamline operations, better serve customers, and augment a changing workforce. In addition, prescient companies are using changes to industry standards, most notably LDTI in the US and IFRS 17 elsewhere, as a catalyst to implement many of these strategic and operational changes, as well as determine viable business strategies for the future.