Disruptive Innovation in Insurance Sector: A Path Towards Progress

Authors

  • Rohan P. Dahivale HoD & Dean Academics, Rajgad Institute of Management Research & Development, Pune

DOI:

https://doi.org/10.33516/maj.v55i9.50-52p

Keywords:

No Keywords.

Abstract

A disruption innovation is a concept which generally originates from less demanding customers at the low end or non-existed (or new) markets. It is a process and not a product or service. This new business model significantly differs from the current existed. The future market will be owned by the customer demand and low-cost services with transparency in the process with high-quality digital services must be offered by the insurers to sustain in the competitive world. The future customers in front of the insurers are the millennials and the post-millennials era people; these are digitally and technologically advanced customers. Thus there must a service offers accordingly to attract and retain them. This paper highlights the use of disruptive innovation in the insurance sector.

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Published

2020-09-30

How to Cite

Dahivale, R. P. (2020). Disruptive Innovation in Insurance Sector: A Path Towards Progress. The Management Accountant Journal, 55(9), 50–52. https://doi.org/10.33516/maj.v55i9.50-52p

Issue

Section

Cover Story

References

i. Christensen, Clayton M. (1997). The innovator’s dilemma: when new technologies cause great firms to fail. Boston, Massachusetts, USA: Harvard Business School Press. ISBN 978-0-87584-585-2

ii. https://www.irdai.gov.in

iii. https://www.swissre.com

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