Digitalisation & Virtual Business Models: The Future of Banking and Insurance in Asia Pacific
2020 was a fascinating year for Financial Services in the Asia Pacific. Banks and Insurers are increasingly being challenged by data players, technology companies and large brands from outside the sector.
In this white paper, Marlin Hawk explores how this disruption has the potential to disintermediate entire product lines and what the insurance industry can learn from the banks on how to develop virtual business models.
Key themes include:
- There is rapid digitalisation and increased virtual exchange, in Asia Pacific as the global pandemic has had a unique impact on the region
- The rationale for moving to the cloud is compelling, and realising a complete migration with entirely outsourced infrastructure gives a competitive advantage
- Insurers can learn best practice from the digitally fluent, by looking at how the banking industry and how it has developed virtual business models