The transformation pressure in the insurance industry continues to increase. The market is subject to constant change and traditional business models do not always meet changing customer requirements and market dynamics. There is therefore a broad consensus: Insurance companies must continuously and profoundly modernize and renew their business model in order to be able to defend market shares.

Business model innovation offers insurance companies the opportunity to meet changing market conditions, strengthen their competitiveness, better meet customer needs, and tap into new growth opportunities. It is an important step to succeed in a changing industry. But why and in what way are such innovation approaches pursued in German-speaking insurance companies?

The current publication of InsurLab Germany and crossconsulting with the support of the Institute of Insurance Economics at the University of St. Gallen takes an in-depth look at the status quo as well as the motives and methods with which insurance companies are currently approaching innovations, especially business model innovations.