November 24, 2023
Despite a recent period of disruption, the European insurance industry has remained stable. Insurers recovered quickly from the short-term profitability hit caused by COVID-19, and the outlook is positive: McKinsey projects about 3 percent annual premium growth and 8 percent growth in profits by 2025. European InsurTech startups have the potential to become a €200 billion market by 2030. How can they turn this opportunity into reality?
The physical branch has been the primary sales channel for traditional banks, even as the broader business increasingly becomes digitalized. However, decreased foot traffic, digitally savvy consumers, competitive threats, artificial intelligence (AI), and technology transformation all challenge the status quo, demanding the digitalization of marketing and sales. Given the complexity of the value chain, this requires transformational change. This Viewpoint sets out an eight-stage approach to delivering digital sales success for banks.
Cruise is moving at a breakneck pace to get its driverless vehicles in more cities. The GM-backed company says it’s targeting 12 more markets in the US alone. Autonomous vehicle operator Cruise, which is backed by General Motors, will launch a robotaxi service in Japan by 2026. It’s another sign that GM does not intend to back down from its commitment to get driverless cars in more cities as rapidly as possible.