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1、Ecosystems of Tomorrow The value of ecosystems for the insurance industry REPORTSummaryFor years,ecosystems have dominated the debate around innovation in the insurance industry.Success stories from other regions(like Ping An for health in China1 or Coalition for cyber risks in the United States)and

2、 other industries(such as Apple for meeting peoples everyday media and information needs)show how ecosystems can make insurance companies more customer-centric,increase digitalization at the customer interface and diversify products and services.Ecosystems also enable companies to grow beyond insura

3、nce in terms of new service and product offerings and create added value for all stakeholders.Despite the relevance of ecosystems,a number of key issues in the insurance industry still remain.This study addresses these issues:Have ecosystem approaches really delivered benefits for insurance companie

4、s?What are the success factors for benefiting from ecosystems?Will ecosystems be so relevant in the future that insurers have no alternative but to be part of them?Or will ecosystem strategies eventually be viewed as little more than hype,something that insurers should pursue selectively at best?By

5、answering these questions,our study aims to contribute to a better understanding of ecosystems in the insurance industry and provide practical information on how companies can be or are already being successful with ecosystem approaches.We will do this in five chapters,starting with an analysis of t

6、he status quo and ending with an outlook on what needs to be done with an outlook to the future:1.Ecosystem prevalence and status quo:We paint a picture of the insurance industry in Europe,looking at the role and significance of ecosystems.The focus is on the GSA region Germany,Switzerland and Austr

7、ia(Chapter 1).2.Motivation and drivers:We show what motivates companies to get involved in ecosystems and outline four key factors influencing their decision to do so(Chapter 2).3.Roles and players within ecosystems:We present the modus operandi for ecosystems and examine which roles are suited to i

8、nsurers(Chapter 3).4.Ecosystem drill-down:We illustrate ecosystems in the areas of cyber,health and mobility,first presenting an overview and then going into detail to show that there is huge value in innovative approaches(Chapters 4.1 to 4.3).5.Success factors for the future:Finally,we provide prac

9、tical information on the key success factors for insurers and present an outlook for the coming years(Chapter 5).To understand how the insurance industry especially in the GSA region and in Europe views ecosystems today,we collected data from more than 70 respondents from various functions(including

10、 distribution,innovation,sales,operations)and different hierarchical levels(from experts to directors).Using a mixture of written questionnaires and in-depth interviews,we focused on the relevance of ecosystems today,insurance companies objectives in using ecosystems and the measurable benefits they

11、 obtain.To ensure comprehensive consideration of the topic from a B2B perspective,partners such as technology providers,startups and insurance brokers were also included in the empirical study.1 https:/www.versicherungswirtschaft-heute.de/schlaglicht/2021-07-08/grenzgaenger-wie-ping-an-zu-einem-welt

12、konzern-aufgestiegen-ist/Cover:Andriy Onufriyenko/gettyimages3 Roland Berger|Ecosystems of Tomorrow2 Roland Berger|Ecosystems of Tomorrow Contents1 2 3 45 Status quo around insurance ecosystems in Europe and GSA Four factors drive the strategic relevance of ecosystems Where is the sweet spot?Roles a

13、nd players within ecosystems Health,mobility and cyber:Attractive focal points for insurance ecosystems 4.1/Cyber ecosystems 4.2/Health ecosystems 4.3/Mobility ecosystems Conclusion 5791024PagesStatus quo around insurance ecosystems in Europe and GSA Insurance ecosystems have taken on increased impo

14、rtance in Europe and the GSA region comprising Germany,Switzerland and Austria in recent years,becoming an important element in the industry.Almost all of our study participants have already come into contact with ecosystems in their day-to-day business,the vast majority around 80%even very often.A

15、key feature of ecosystems is that they integrate and connect different types of players,such as insurance companies,brokers,InsurTech startups and other service providers.These then work together to offer solutions in which insurance plays a significant role.Both designing and orchestrating correspo

16、nding ecosystems as well as participating in them can open up new opportunities for growth.2 We therefore understand the aim of an insurance ecosystem as being to join with other players in a network to offer an insurance-related solution that goes beyond pure insurance cover or the commitment to pa

17、y a claim.Numerous efforts are underway to establish insurance ecosystems in the markets we looked at.Some of these were developed by incumbent insurance companies,while others were created by innovative InsurTech startups or other players.The approaches vary:Ecosystems often use advanced technologi

18、es such as artificial intelligence,machine learning and big data analytics to connect a variety of companies in order to offer personalized insurance products and improve customer service.Some insurers provide integrated platforms that external providers operate for them as a channel through which c

19、ustomers can manage their insurance policies,report claims and have their claims settled.3 By working with companies like healthcare providers,vehicle manufacturers(OEMs)or smart-home hardware suppliers,the insurers add value that goes beyond traditional cover.Not only does this make the customer ex

20、perience more digital,it transforms the simple insurance product into an integrated insurance solution with additional service elements.WHAT ARE THE MAIN DRIVERS BEHIND THE DEVELOPMENT OF INSURANCE ECOSYSTEMS?Insurers such as Generali state that ecosystem approaches are part of their go-to-market st

21、rategy,but they concede that ecosystem development can only succeed if key prerequisites are met(e.g.if the level of customer interaction is high and attractive content is provided).4 Further examples in the GSA region are HUK-COBURG(which founded onpier,for example,in which HDI and LVM are among th

22、e participants)and Baloise,which cooperates with UBS for Houzy,a platform for homeowners in Switzerland.12 Michael Lewrick Design Thinking for Business Growth:How to Design and Scale Business Models and Business Ecosystems(2022)3 https:/www.it-finanzmagazin.de/hdi-versicherung-und-neodigital-entwick

23、eln-gemeinsame-schadenplattform-145862/4 https:/versicherungsmonitor.de/2023/04/03/generali-oekosysteme-sind-keine-selbstlaeufer/5 Roland Berger|Ecosystems of Tomorrow4 Roland Berger|Ecosystems of Tomorrow However,the impetus for building ecosystems does not come from the insurance industry alone:Th

24、e European Union also supports their development as a way to foster competition,stimulate innovation and offer consumers a wide range of insurance options.Included in the EUs goals are regulatory harmonization with a uniform legal framework,the realization of dialog formats with the industry,and res

25、earch programs such as Horizon Europe.5 Insurance brokers such as Clark or associated models like Thinksurance also have diverse roles to play in the development of insurance ecosystems.These include integrating insurance products brokers can bring cover underwritten by different companies into a si

26、ngle ecosystem to using innovative technologies such as big data analytics and machine learning to create customer profiles and offer customized insurance solutions.They can also integrate players like healthcare and cyber service providers to offer value-added services.Although large-scale ecosyste

27、ms are not yet widely established,we do expect them to become more important and evolve further as insurers continue to embrace digital transformation and seek to improve the customer experience.InsurLab makes a similar argument in its white paper,observing that ecosystems have the potential to inno

28、vate and disrupt traditional business models.6 This view is echoed by the vast majority of our respondents,with around 90%rating the relevance of ecosystems as extremely high or even critical to their future.Building on these overarching findings,we then considered the precise strategic relevance of

29、 ecosystems for insurers and how they can differentiate themselves by participating in them.Four factors drive the strategic relevance of ecosystems There are four main factors that make engaging with ecosystems a strategic necessity:customers,competitors,technology and regulatory forces.THE CUSTOME

30、R AT THE COREDriven by their experiences in other sectors,customers expect insurers to offer them more than just a commitment to pay their insurance claim.No longer do corporate and private customers just want to be covered for specific risks they want compre-hensive solutions that also decrease the

31、 probability of a claim and reduce the extent of any such claim.At the same time,the solutions need to be simple,easy to understand and,where possible,lower the customers premium payments.Insurers themselves acknowledge the strategic relevance of ecosystems when it comes to customer focus,with 90%of

32、 our study participants confirming that greater customer centricity is a key objective behind their participation in insurance ecosystems.However,there is one caveat here:Our findings also show that companies do not yet view ecosystems as a lever for transformation.Rather,they see them as an opportu

33、nity to broaden their offering through greater innovation.2 Our study on business model innovation in the insurance industry showed that ecosystem approaches are present in the majority of cases.Mostly,startups and scaleups are driving the innovation.They stand out with their very high level of cust

34、omer centricity and dynamic development.For example,a willingness to experiment with new approaches and models is particularly evident in the mobility ecosystem.Anna Kessler,Managing Director,InsurLab Germany The basic idea of an ecosystem is becoming ever more relevant.Its about creating holistic e

35、xperiences and generating real customer excitement again.Bjrn Dunker,Head of Partner Management,Zurich Group Germany 5 https:/www.horizont-europa.de/6 InsurLab Germany&crossconsulting(2023)white paper:Business Transformation in the Insurance Industry:New Impetus through Business Model Innovations?ht

36、tps:/insurlab- is predestined for ecosystems because of the blurred boundaries between insurance and assistance.The necessary expertise in loss prevention and incident management is almost impossible for an insurance company to provide in-house today.That is why more and more insurers are relying on

37、 specialized service providers.Ole Sieverding,Managing Director,CyberDirekt 6 7 Roland Berger|Ecosystems of TomorrowRoland Berger|Ecosystems of TomorrowDRIVING FORCES OF COMPETITION Another aspect driving the emergence of ecosystems is competition.This isnt just coming from the insurance industry it

38、self.There is competition from industry,where vehicle manufacturers are already venturing into the traditional domains of insurance companies with warranty and assistance products,offered either via self-insurance or through fully regulated insurance providers.And in healthcare,digital players like

39、Doctolib are taking on a coordinating role,acting as a hub at the customer interface.Brokers,too,are expanding their own value chains horizontally and vertically to compete with insurers,particularly within managing general agent(MGA)models.GROWING TECHNOLOGICAL POSSIBILITIES Technological advanceme

40、nts are significantly improving the possibility of building ecosystems.These include the exponential rise in the volume of data available,to which insurers would have only limited access individually.(Horizontal)insurance ecosystems can enable cooperation to obtain greater access to data,consolidate

41、 it in cloud infrastructures,and analyze it using big data models and artificial intelligence.The growing interconnectivity of players,devices and systems creates the basis for integrated insurance solutions in the ecosystem.In addition,new technologies are creating new risk classes(e.g.cyber),or di

42、srupting entire insurance lines(e.g.motor versus mobility).Technology does not just offer opportunities for growth;it also shortens innovation cycles and increases technological complexity.As part of an ecosystem,insurers do not have to face these challenges alone and can share the burden of the nec

43、essary investments.REGULATORY AND LEGAL DEVELOPMENTS Finally,regulatory requirements around data privacy and data security can influence the development of ecosystems,especially those aimed at private individuals and based on personal data.To ensure the frictionless exchange of data between partners

44、 and platforms,all participants must ensure that they comply with the necessary data privacy and security standards.Furthermore,regulation can restrict access to certain data or limit the way in which it is processed.This can certainly hinder the development of ecosystems,as data is often crucial to

45、 their integration and growth.If insurers need access to certain customer data or external data sources in order to offer services,regulation can restrict this or make it more complicated.The electronic patient file(ePA)in Germany is an example that shows very clearly how tight the data privacy rule

46、s are in the health sector.So far,insurers have not been able to implement key aspects of user-friendly access(such as biometrics)because of regulatory restrictions.According to another white paper from InsurLab Germany,the expected implementation of the EU Commissions draft regulation on the Framew

47、ork for Financial Data Access(FIDA)could provide a remedy here through standardized data interfaces and information.7In view of the wide scope covered by these factors and the interdependencies between them,which we will not go into in more detail here,it is clear how great the challenge of successf

48、ully establishing and growing an ecosystem in the insurance industry is.In the next chapter,we take a closer look at the roles that insurers and other players can and should adopt:in our experience,its only when you know what role you want to play that you can optimize the value you will be able to

49、add in the ecosystem.Where is the sweet spot?Roles and players within ecosystemsThe key players within an ecosystem are typically one orchestrator and several realizers and enablers.8 Other players,such as regulators and investors,also contribute to an ecosystem,but in this chapter we focus on orche

50、strators,realizers and enablers.TYPICAL ROLES FOR ECOSYSTEM PARTICIPANTSAn orchestrator is the most visible and public player in an ecosystem.Examples include Google/Alphabet within the Android system,Amazon with its marketplace and Alexa,or Apple with its product world and loyal community.In the fi

51、nancial world,orchestrators could be credit card companies or platform operators such as check24.de.The orchestrator is normally responsible for formulating the vision,providing the(usually technical)platform and creating a structure for governance,communications and incentives.It is the orchestrato

52、r that initially brings the ecosystem to life using their own assets and/or relying on partners.Even though the scope for shaping and influencing the ecosystem can be huge,the financial and human resources outlay,the knowledge requirements and the determination,along with all the associated obligati

53、ons,also need to be extremely pronounced with the orchestrator.37 Whitepaper InsurLab Germany,FRIDA,BLD&adesso(2023):FIDA-EU Verordnung zu Open Insurance und Open InsurLab Germany,FRIDA,BLD&adesso(2023)white paper:Impact of the EU regulation on open access to financial data(FIDA)on the insurance ind

54、ustry;https:/insurlab- https:/ open and standardized exchange of data that breaks down traditional industry and cooperation barriers will benefit new,customer-focused business models and insurance solutions for almost all areas of life and business.With the tailwind of FIDA regulation,open insurance

55、 could revolutionize the insurance sector.Work on this topic should therefore not be just a matter of ensuring compliance but a strategic priority.Dr.Philipp Johannes Nolte,Senior Program Manager,InsurLab Germany Insurance ecosystems are critical strategic structures that not only make the insurance

56、 industry more resilient in times of change but also increase its capacity to generate lasting value for customers,companies and investors.Dr.Ulrich Kleipa,Senior Partner,Roland Berger 8 9 Roland Berger|Ecosystems of TomorrowRoland Berger|Ecosystems of TomorrowRealizers provide products and services

57、 and thus create an actual ecosystem out of a providers infrastructure or product.They are also responsible for the bulk of the customer relationships,which the orchestrator often supports only in a technological or systemic sense.In the financial sector,insurance companies,banks and financial advis

58、ors often operate as realizers.The advantage of doing so is obvious:It is a way of integrating existing products in an ecosystem in a resource-saving manner with no costs for setting up the infrastructure.At the same time,the role of realizer is naturally more passive than the role of orchestrator.E

59、nablers provide further necessary resources or infrastructure to allow other participants to grow.The job of an enabler is to create a favorable environment that fosters the success of all players.Key tasks include providing access to the ecosystem(e.g.digital identity providers)or offering speciali

60、zed services.What does this mean for the insurance industry?Even if the typical reflex of many directors,investors and entrepreneurs would be to aim for the orchestrator role,where they think there would be more profit potential,many of the experts we interviewed cannot see insurers developing and d

61、riving their own industry-wide or cross-industry ecosystem.Indeed,our data indicates that neither insurance companies themselves nor the players operating around them would primarily assign the role of orchestrator to insurers they see them as realizers instead.But is this a problem for insurers?The

62、 answer is no.In business terms,it need not be a disadvantage:Some realizers or enablers can in fact enjoy a higher,or at least a disproportionately high,share of the overall value creation and the returns compared to the orchestrator.And if this is possible,the next question is,might this not actua

63、lly be the sweet spot to aim for?Reaching this sweet spot could involve a high degree of innovation or a unique selling point for the product,as well as a dominant market position.Particularly the latter is what regularly helps companies get more out of an ecosystem than they put in.Health,mobility

64、and cyber:Attractive focal points for insurance ecosystemsIn the first chapter,we noted that insurers in certain segments are keen to move further away from selling products towards selling solutions,and that ecosystems are one possible way to go about that.And in the previous chapter,we established

65、 that the role of realizer in ecosystems can be very attractive for insurance companies.But which areas offer the biggest opportunities for insurance companies in terms of ecosystem development?The respondents in our study consider health(95%),mobility(80%)and cyber(45%)to be the most suitable segme

66、nts in which to build an ecosystem.The table below provides an overview of the characteristics of these three different ecosystems.We describe the three ecosystems in more detail in the following subsections.A4Cyber ecosystemsHealth ecosystemsMobility ecosystemsMarket relevance Low level of maturity

67、 in all European markets Medium to high level of maturity,depending on market Medium level of maturity in most marketsDrivers Technical solutions are the main focus Provision of care is the focus Mobility services are the focusKey challenges Customer Information and prevention necessary Needs and ex

68、posures often still unclear Changing risk situation,threats are diffuse,risk of major loss Interconnectivity of different customer jour-neys between players Greater role of prevention Desire to grow old healthily Greater importance of the sharing economy,leasing and subscription models Need for flex

69、ibility Low capital commitment wanted More electric mobilityCompetition and market Volatile risk exposure Accumulation risks Aging society Complex stakeholder landscape Circular economy Loss inflationTechnological possibilities Lack of historical data Lack of interconnectivity TelematicsRegulatory a

70、nd legal framework (Liability-related)legal framework still in flux Regulation very strict to the point of inhibiting innovation New implications from autonomous driving Potential roles for insurers Archetype 1:Cyber insurance as the starting point Archetype 2:Insurance as part of a bundle of servic

71、es(see Coalition example on p15)Archetype 3:Approach spanning all insurance lines Archetype 1:Broad insurance coverage as the starting point Archetype 2:The insurer as a specialized provider Archetype 3:The insurer as the infrastructure provider Archetype 1:Incubator and infrastructure provider Arch

72、etype 2:The active user Archetype 3:Beyond insurance and extending the value chainKey success factors for the ecosystem Mutual understanding between the partners for a coordinated service bundle Solution scalability Long-term nature High frequency of customer interaction Value-creating partnerships

73、Speed and ability to implement services Size and structure of the current vehicle fleet Available investment budgets Brand positioningACyber,health and mobility as ecosystem components10 11 Roland Berger|Ecosystems of TomorrowRoland Berger|Ecosystems of Tomorrow4.1/Cyber ecosystemsCyber is an area p

74、redestined for an ecosystem because there is mutual benefit for the partners involved and the different areas of expertise that are needed to address cyber risks must harmonize well.These include insurance,an essential technical understanding,and loss prevention,coverage or mitigation as well as act

75、ive loss management.However,it is also an area where the challenges posed by the ever-changing conditions and legal framework are enormous.MARKET RELEVANCE,DRIVERS AND CHALLENGES Cyber has seen strong growth in recent years.The topic is highly relevant to society and the economy,given that cyber att

76、acks are constantly on the increase.9 In a recent survey,two fifths of German companies said they had been the target of a cyber attack in the last 12 months.There were already almost 100,000 cases of cybercrime recorded back in 2018.According to McAfee,global losses amounted to USD 1,000 billion in

77、 2020,having almost doubled since 2018.10 The need for cyber insurance is growing accordingly.We expect the market volume to increase several times over and global premiums to reach as much as USD 50 billion in 2030,growing at an average rate of more than 20%per annum.While the United States is expe

78、cted to remain the main focus for premiums,Europe and the GSA region can expect even higher growth rates of more than 30%per year.Nevertheless,many insurers still consider the market to be challenging,with the relatively young cyber insurance segment differing significantly from traditional insuranc

79、e lines.The risks originate primarily in three areas:the insurance companys own business activity,specially developed cyber policies,and traditional insurance products where the losses are caused by cyber events(known as silent cyber).CHALLENGES ARISE MAINLY FROM THE FOLLOWING FACTORS:Volatile risk

80、exposure:Insurers often lack the relevant data for assessing risks.Their risk exposure changes dynamically and,most importantly,faster than the speed at which they are able to adjust the price or structure of cover,i.e.through exclusions.The available(competing)products are also relatively quick to

81、change.The German Insurance Association(GDV)published model clauses several years ago,but there is still very little standardization among the coverage concepts,obligations and exclusions for cyber.The discussion around clauses excluding war risks is one example.Legal framework:The legal(liability)s

82、ituation is also in flux,and new rulings can have a major impact on portfolios.Even if,as the German Association of Actuaries(DAV)claims,the growing number of legal precedents means that the pace of change on the legal and product side can be expected to slow in the long run,a dynamic risk exposure

83、remains characteristic of cyber.Lack of historical data:As with other risks,insurers are faced with the task of measuring cyber risks using mathematical models for pricing as well as for risk management and reserving purposes.There are various challenges throughout the process,the issue of insuffici

84、ent data being particularly important.Even if data on(claims)history is available,it is not necessarily meaningful enough for the current risk and coverage situation to be able to build reliable mathematical models.Occurrence of accumulation losses:Cyber risks have a high,potentially catastrophic ac

85、cumulation risk.A single cyber event can affect a large number of individual risks and lead to total losses unlimited by geography(unlike localized storms or earthquakes).In addition,insurers can be affected by major cyber events on both sides of the balance sheet,i.e.on the investment side and in t

86、heir own portfolio.B Cyber extortion,cyber attacks and data loss are the biggest risks Question:How significant are the following risks for the managers in your organization?(Percentage of respondents who answered very significant or extremely significant)GSA Worldwide 1 Cyber extortion 2 Cyber atta

87、cks 3 Data loss 4 Climate change 5 Bribery and corruption 67%57%62%67%62%52%42%52%47%45%9 https:/aktuar.de/unsere-themen/fachgrundsaetze-oeffentlich/DAV-Ergebnisbericht_CyberRisiken.pdf 10 https:/www.csis.org/analysis/hidden-costs-cybercrime Source:WTW 12 13 Roland Berger|Ecosystems of TomorrowRolan

88、d Berger|Ecosystems of TomorrowINSURED RISKSWhat are the biggest cyber risks?According to a recent survey in the magazine VersicherungswirtschaftHEUTE,liability risks,especially cyber extortion,cyber attacks and data loss,are seen as the biggest cyber risks by company directors.11 BWHAT CAN A CYBER

89、ECOSYSTEM DO AND WHAT CAPABILITIES DOES THE INSURER NEED?What can the development of a cyber ecosystem achieve and what are the prerequisites for developing it?First of all,insurance companies that want to establish cyber as a line of business will presumably need to take appropriate measures in the

90、ir core business12 to manage the risks in this area.At the same time,there are subdomains that can complement the core business and help offer customers a comprehensive range of services:Risk expertise:External expertise for IT security and risk assessment prior to contract signing can make up for m

91、issing internal expertise.In this case,parts of the underwriting process are supported by service providers.Accumulation modeling:Cyber-specific scenario analyses or dedicated mathematical accumulation modeling often exceed the capabilities of in-house resources.Specialized providers or reinsurers c

92、an help here.Technology:Cyber lends itself to technical support for risk analyses and underwriting.Systems with a structure that is generally accessible to machine analysis should be examined,e.g.through structural analysis of(server)infrastructures,log files or patch histories.External providers an

93、d specialists are increasingly able to offer such analyses and tools.Advice(pre-incident):Advisory support for policyholders13 in the sense of active risk reduction based on rare expert knowledge far exceeds the resources and capabilities of many traditional insurers.Operational support(post-inciden

94、t):Claim containment,which is possible to a much greater degree in cyber than in other insurance lines,requires the availability of qualified IT resources quickly and in large numbers,which few insurers have in-house.In the early phase of an attack,this is usually more important than claim payment.F

95、orensics:External partners with specialist expertise are also a way to close knowledge gaps in financial loss assessment.POSSIBLE ROLES FOR THE INSURER IN THE CYBER ECOSYSTEM In the following section,we outline three different archetypes that describe the role of an insurance company in the cyber ec

96、osystem:Archetype 1:Cyber insurance as the starting point It would make sense from the insurance companys perspective to take a leading role in the cyber ecosystem,as they(have to)finance many relevant services(especially post-incident).In this archetype,the actual insurance is seen as the central s

97、ervice.Other services(such as risk expertise,forensics,accumulation modeling)act as enablers of this service,and technology and advisory are complementary services.Archetype 2:Insurance as part of a bundle of servicesIn the second archetype,the insurance itself takes a back seat.One example is the U

98、S company Coalition,which primarily offers technical prevention measures to mitigate cyber risks and provides assistance if a cyber event occurs.14 The actual insurance coverage is viewed only as protection against a small residual risk and merely serves to complement an otherwise very comprehensive

99、 security service.This active insurance focuses on risk expertise,technological advice and operational support in the event of an incident,and these are central to the interaction with the customer in this second archetype.Archetype 3:Approach spanning all insurance linesA third option places the cu

100、stomer relationship between the insurance distributor or broker and the customers/key accounts at the center.Here,the aspect of(risk)advisory concerning the customers overall risk situation is viewed across all insurance lines.The cyber-specific topics and cyber insurance coverage are merely enabler

101、s of the overall protection.Forensics and accumulation modeling are functions of the insurance coverage and are relevant only indirectly from a distribution perspective.SUCCESS FACTORS AND THE WAY FORWARDWhichever the archetype,there are fundamental factors that make a cyber ecosystem successful.We

102、therefore recommend focusing on the following actions:Align service bundles precisely:The cyber insurance market is complex.Each partner in the ecosystem needs specialist knowledge and capabilities that make them unique and successful in their role in the ecosystem.At the interfaces there needs to b

103、e sufficient knowledge of the partners activities so that they are understood and a coherent bundle of services can be integrated.Ensure the scalability of the solution:Cyber risks can lead to accumulation events.Particularly partners that are active post-incident must be reliable in the event of a

104、claim,highly scalable and possibly also able to deliver internationally.Ensure long-term viability:Across all threats,an ecosystem needs to be stable in order to cushion against the inherent dynamics of cyber risks.This requires the partners to have staying power,in other words a lasting commitment

105、to working within the ecosystem.Cyber insurers are helping to make societies more resilient to cyber risks.As part of the ecosystem,they structurally support prevention,invest in knowledge building and standardization,and offer financial protection in a fast-growing market.Dr.Jrgen Reinhart,Chief Un

106、derwriter Cyber,Munich Re 14 https:/ For example,developing and increasing expertise,adapting the product development process,specialized training for distribution and further developing risk management methods.12 For example,creating awareness or providing practical risk management.13 https:/ 15 Ro

107、land Berger|Ecosystems of TomorrowRoland Berger|Ecosystems of Tomorrow4.2/Health ecosystemsNext,we turn our attention to the topic of health,an area in which ecosystems have already reached a somewhat higher level of maturity,at least in selected European markets.Growing interconnectivity in the hea

108、lth sector favors ecosystem approaches,including internationally.Regulation plays a very important role in healthcare,which can have an inhibiting or a facilitating effect depending on the context.MARKET RELEVANCE,DRIVERS AND CHALLENGES Digitalization and technological advances(e.g.analytics,greater

109、 availability of data,artificial intelligence)have significantly driven market growth in the health sector in recent years.Traditional products for prevention and care have been successively expanded or replaced by digital services and have become more and more widely accepted(e.g.mental health apps

110、,nutrition coaching,fitness trackers).As a result,traditional boundaries in the health sector are being pushed back and increasingly blurred by new players coming in especially tech companies and startups.This development is giving rise to large conglomerates that are able to build their own health

111、ecosystems without taking on the role of insurers themselves.Besides numerous opportunities,such as the ability to expand the existing service portfolio,a number of specific challenges also need to be addressed when building a health ecosystem:Regulatory requirements:The health sector remains a mark

112、et that is heavily tailored to the national healthcare system,in other words it is driven by country-specific regulations.This makes it difficult to build an international network,meaning that often only local solutions can be included.The slow rollout of the electronic patient file(ePA)and the long

113、-drawn-out telematics infrastructure expansion show evidence of specific difficulties in Germany,for example.Data privacy:Although the availability of data in the health sector has grown immensely in recent years(e.g.through fitness trackers or health apps),the use cases for insurers are still limit

114、ed due to strict data privacy rules.Technology:The strict data privacy rules mean that the technological prerequisites,particularly around compatibility and ease of integration,represent a sizable obstacle to the development of ecosystems.However,Bertelsmanns Digital Health Index highlights the fact

115、 that there are distinct regional differences here.15 On the positive side,players such as Generali are demonstrating that international ecosystem approaches are possible in the health sector.16INSURED RISKS The risks in the health ecosystem that need to be insured or prevented through targeted scre

116、ening and other means focus on the classic health insurance topics,which are divided into the four domains of medical care,screening,nursing care and loss of income.These four areas can be expanded to include a variety of health services.WHAT CAN A HEALTH ECOSYSTEM DO AND WHAT CAPABILITIES DOES THE

117、INSURER NEED?As a rule,ecosystems in the health segment are not intended to cover new risks and are therefore not aimed at the core of the insurance business but are deliberately tailored towards complementing this core.For an insurance company,the aim is often to expand their service portfolio.Ther

118、e are various points that insurers can start from here,such as digital care offerings(e.g.advice videos),promoting an active lifestyle(e.g.fitness and wellness offerings),improving life for people with chronic conditions,or monitoring health(e.g.tracking vital data such as breathing rate or heart ra

119、te).On the other hand,it can also be about improving cost management,like reducing unnecessary visits to the doctor and unnecessary prescriptions,or obtaining additional data about customers,which can then be used as a basis for more targeted management or for bundling specific services together.POS

120、SIBLE ROLES FOR THE INSURER IN THE HEALTH ECOSYSTEM Archetype 1:Broad insurance coverage as the starting point for coordination In the leadership role,the insurer builds a network that spans all relevant target groups and health-related services.Through strategic partnerships,the insurer expands the

121、ir portfolio of services and enables the comprehensive orchestration of policyholders.The aim is to become the first port of call for health issues and to effectively steer policyholders,even if the insurer does not always provide the services directly.Archetype 2:The insurer as a specialized provid

122、er Specialized providers in health ecosystems focus on specific target groups,be they pensioners,young professionals or others.Their offerings and services are developed along care pathways that address the specific needs of the target group.This enables a clear differentiation between the customer

123、groups addressed and the offerings are customized.In contrast to insurers in the leadership role,specialized providers have no intention of covering the entire range of services,focusing instead on their target groups and their specific needs.Archetype 3:The insurer as the infrastructure providerHer

124、e,the insurer invests in a scalable infrastructure that market participants can join.This makes it possible to connect providers along the value chain and incorporate a full range of processes.The technological element means that the role of infrastructure provider can often only be realized in clos

125、e partnership with large technology providers.Furthermore,regulatory requirements can restrict this archetype,which is monopolized in Germany by the telematics infrastructure.15 Kostera,Thranberend:#SmartHealthSystems,in:SPOTLIGHT Healthcare 05/2018 by Bertelsmann Stiftung 16 https:/ 17 Roland Berge

126、r|Ecosystems of TomorrowRoland Berger|Ecosystems of TomorrowSUCCESS FACTORS AND THE WAY FORWARDAs in the cyber ecosystem,there are a number of fundamental success factors for health ecosystems that are crucial for insurers:C Be customer-centric:Ecosystems should be built on the basis of customer-cen

127、tric care pathways.Its better to provide holistic care across fewer pathways than to support many pathways partially.It is important for insurers to try to position their provision towards each target group separately while also providing customers with an end-to-end customer experience through inte

128、rconnectivity of the individual services.Create value with partners:Expansion of the service portfolio can be achieved by linking up and collaborating with qualified IT partners.Digital offerings can be expanded in a targeted way through strategic partnerships to offer complete solutions within the

129、ecosystem.Implement services quickly:Competition for market leadership is fierce.The health sector is very dynamic and all players are working to expand their service portfolio.Insurers need to increase their speed and their ability to implement services in order to be a pioneer here.For insurance c

130、ompanies,success in the health ecosystem thus depends on customer-centric care,the right partnerships and the ability to deliver innovations quickly.By taking these success factors into account,they can strengthen their position in the health market and achieve lasting success.4.3/Mobility ecosystem

131、s Mobility is a significant market due to the size of the automotive segment.We believe that insurers need to be bold in order to move out of junior roles in ecosystems.As a first step,they can create a counterweight to strong players like vehicle manufacturers or large providers of assistance servi

132、ces by cooperating with other insurers.MARKET RELEVANCE,DRIVERS AND CHALLENGES Motor vehicle insurance is the most significant segment of the property insurance market in Germany in 2021,with premiums totaling almost EUR 30 billion,more than EUR 24 billion in payouts to customers and almost 130 mill

133、ion insured risks covered by third party,fully and partially comprehensive and motor personal accident insurance.17 It accounts for 40%of total premiums for some 90 active insurers and is therefore both a driver of revenues and a major earner of fixed costs for companies.Moreover,there is a very wid

134、e range of insured vehicles in this segment from cars to commercial vehicles and motorcycles to agricultural and construction vehicles.Customer groups range from national private customers with just one vehicle to Ecosystems not only represent an opportunity for insurers to meet the growing challeng

135、es of the digital world,they are also a key way of creating real added value by ensuring the security and resilience of their customers in an increasingly connected and digitalized environment.Dr.Clemens Frey,Partner,Roland BergerCThree success factors for health ecosystems Digital services for all

136、life situationsPartner network with service providers BMI tracker Medication plans Mental health coach Cycle tracking Pregnancy support Connected care pathways in the ecosystem Seamless linking of telemedicine and outpatient treatment Data exchange between the digital and analog world Medication and

137、 e-prescriptions Extension and supplementation of regional care by digital services Specialist medical centersPharmacies Outpatient care HospitalsHealth kiosks Telemedicine17 https:/ 19 Roland Berger|Ecosystems of TomorrowRoland Berger|Ecosystems of Tomorrowlarge fleets of several thousand vehicles

138、that are on the road throughout Europe and whose claims have to be settled internationally.The boundaries of insurance as a product have been blurred in this area for a long time,and not just since the rise of ecosystems,because Germans have always had great trust in services like the ADACs roadside

139、 assistance or have used warranties and assistance products from OEMs and insurers alike when on vacation.While these issues are well known and largely manageable,insurers are also faced with a number of new challenges,which are developing and changing the structure of the market and for which no co

140、nclusive answers have yet been identified:D The sharing economy:Younger generations in particular are increasingly opting for mobility services over traditional vehicle ownership.This paradigm shift means that vehicles are no longer being purchased and insured for long periods of time but are being

141、used and insured in line with peoples current needs and for short periods of time.Insurers are faced with the challenge of adapting to these changing consumer habits and customer interfaces and creating innovative solutions that support the flexible,on-demand use of vehicles such as ensuring seamles

142、s integration in the usage process.As a result,the customer interface for insurers is changing from B2C to B2B.Changing conditions due to electric vehicles and assistance systems:The growing market penetration of electric vehicles and assistance systems requires insurers to adapt to the modified tec

143、hnical design of cars and the associated claims patterns.In particular,new types of claims are emerging,including battery fires,and the frequency and size of claims are changing,which insurers need to take into account in their policies,actuarial calculations and claims settlement.Conversely,assista

144、nce systems are reducing the frequency of claims.Trend towards self-insurance:For fleets of only a few hundred vehicles,whether cars or commercial vehicles,the cost of low-volume,high-frequency claims as well as bodywork and glass can be reliably assessed by the owner or operator.Therefore,owners or

145、 operators can afford to self-insure these damages instead of using an insurance company.This saves them the insurers margin and the insurance tax,which is non-deductible.Claims inflation:For years,the motor vehicle market has seen rising costs per repair,and motor vehicle insurers have been equally

146、 affected by that.The trend was originally caused by the increasing use of higher-value components like sensors and LIDAR technology,but it is currently being exacerbated by higher inflation throughout the economy as a whole.Circular economy:The growing importance of the circular economy in all area

147、s,including the mobility sector,requires insurers to adapt their products and processes.This involves implementing smart new models that not only reduce environmental impact but are also economically viable.One example is green repairs,where used,refurbished and up to 70%cheaper replacement parts ar

148、e used for repairs rather than new parts.This is already done frequently in many countries such as the United States and Sweden.Telematics and data-driven pricing:Modern vehicles continuously generate valuable vehicle data.When insurers have access to this data,it enables them to offer more individu

149、alized tariffs based on actual driving behavior.If the data goes unused,insurers risk negative risk selection,making them potentially unable to offer risk-adjusted prices and thus losing profitable customers to rival insurers.INSURED RISKSLooking at the risks that need to be insured,we can distingui

150、sh between two dimensions:firstly,the type of insurance cover(third party,partially comprehensive,fully comprehensive and the special case of self-insurance for fleets);and secondly,the type of customer.These can be either B2B or B2C customers.D A mobility ecosystem connects insurance and non-insura

151、nce services Status quo in the mobility ecosystem Car subscription Repair/maintenance Repair shop services Buying/selling a carLeasing/financing Telematics tariffsAdditional servicesMotor vehicle insurance Electric car insuranceCar appOnline insuranceMobility ecosystemInsurance services Non-insuranc

152、e services 20 21 Roland Berger|Ecosystems of TomorrowRoland Berger|Ecosystems of TomorrowWHAT CAN A MOBILITY ECOSYSTEM DO AND WHAT CAPABILITIES DOES THE INSURER NEED?Like in health,the added value of mobility ecosystems does not lie in insuring new risks or making them insurable:insurance companies

153、are perfectly good at doing their core business themselves.Generally speaking,it is more a matter of addressing topics that are in some way adjacent to insurance,or offering services that customers think of as related to insuring their vehicle.The aim is to occupy the customer interface and not lose

154、 it to price comparison platforms or insurance brokers.Insurance companies must therefore decide which role they want to adopt and consider how they can improve their position at the customer interface.Specific examples of such topics and services are (Digital)convenience services for private and co

155、mmercial customers,such as support with registering a vehicle or applying for the annual greenhouse gas bonus for drivers of battery electric vehicles.Optimizing claims management,especially for commercial fleets with self-insurance,where the focus is not on managing insurance claims but on minimizi

156、ng the total cost of ownership for operators.Establishing and expanding their own data collections,e.g.by entering the leasing busi-ness or the used car trade in order to collect additional data on usage behavior and claims management.This is more easily done with partners.These examples show that w

157、ithin mobility there are a very large number of possible use cases that insurers could address through an ecosystem.The key thing is to strike a balance between the strategic vision and the operative calibration of the use cases in order to successfully build and scale an ecosystem.As a first necess

158、ary step,insurers need to be clear about what role they want to play and can realistically play in the ecosystem.POSSIBLE ROLES FOR THE INSURER IN THE MOBILITY ECOSYSTEM Depending on the size of the vehicle fleet and the financial resources available for investment,there are three potential roles av

159、ailable to insurers in the mobility ecosystem.Archetype 1:Incubator and infrastructure provider Within this first archetype,the insurer acts with the deliberate goal of building an ecosystem and being an active participant in it.The insurer invests in the infrastructure,particularly the technology,a

160、nd actively builds use cases that will be used in the ecosystem.This can go so far as making them accessible to other insurers,because it is less about competing with direct rivals and more about providing added value to existing customers and maintaining control of the customer interface.One exampl

161、e is the development of onpier by HUK-COBURG in Germany.18 Mobilittskonzepte|Wie OEMs ein digitales Mobilitts-kosystem orchestrieren|springerprofessional.deArchetype 2:The active user Here,the insurer participates in the ecosystem as a user and a consumer,actively offering products and services from

162、 partners to their own customer base and thus contributing to the scaling of the ecosystem.Their own investments and contributions to ecosystem content in terms of developing new use cases or expanding ecosystem coverage,by contrast,are very limited.In business terms,this archetype is therefore base

163、d on using the infrastructure operated by others,thus better utilizing it.Insurance is not necessarily the focus of this seamless customer journey.18Archetype 3:Beyond insurance and extending the value chain Insurers of this third archetype ultimately aim to be seen by their customers not as an insu

164、rer but as a solution provider for their mobility needs.This implies a dominant role in the ecosystem,which is very similar to the orchestrator model outlined in chapter 3.However,few insurers have the necessary resources to do this,and even fewer have been bold enough to take this step so far.SUCCE

165、SS FACTORS AND THE WAY FORWARDThere is no right or wrong answer to which of the archetypes is the right one.Each insurance company must always consider the many determining factors in combination in order to come up with the right ecosystem vision for themselves.The most relevant factors to consider

166、 are the size and structure of the vehicle fleet,the available investment budget and the brand positioning.Use the size and structure of the current vehicle fleet:An in-depth knowledge of the vehicle fleet enables customized insurance solutions to be offered that meet the needs of different vehicle

167、types and usage models.The structure of the fleet also affects the demand for mobility services,which will influence the choice of strategic partnerships.Provide investment budgets:Adequate budgets foster innovation,enable the use of IoT technologies for data collection and analytics,and make it eas

168、ier to adapt to chang-ing customer requirements.Achieve brand positioning:The right brand positioning creates trust and lends credibil-ity,which helps attract customers and win partnerships.It signals the value that the insur-ance company offers in the mobility sector and how it stands out from othe

169、r insurers.When determining which archetype is right,not only are the above-mentioned factors key considerations,but insurers must also decide whether they have the courage to create change and the genuine desire to develop the industry in a customer-centric direction.22 Roland Berger|Ecosystems of

170、TomorrowEAnalyze the status quo,check internal capabilities,define future role Determine customer needs to be covered by the ecosystemAnalyze competitive situation in the ecosystem environmentAssess innovation potential from an ecosystemIdentify potential partners for the ecosystemAnalyze the status

171、 quo within the segmentDefine the insurers role and initiate implementationDefine desired role in the ecosystemFormulate realistic business case Examine the companys compatibilityEnsure strategic and cultural fitSecure support from top managementAssess appetite for risk and evaluate own competencies

172、 Conclusion Even if the hype of recent years surrounding ecosystems for insurance services has died down,the experts and company directors who participated in this study still believe that ecosystems will be more important or even crucial to their market survival in the future.However,a much more nu

173、anced view of the status quo must be taken with a greater focus on the business case.Across all ecosystems,our survey respondents see partnership,customer centricity and the commitment of top management as key success factors,with a robust allocation of responsibilities in the ecosystem and a long-t

174、erm approach being paramount when it comes to partnership.Consequently,selecting the right participants and continuously aligning with one another is particularly important,and this can only be achieved through careful planning and ongoing monitoring of ecosystem activities within a dynamic competit

175、ive landscape.Today,insurers already hold various roles in the ecosystems outlined here.Notably,it does not appear to be necessary to take on the role of orchestrator.The role of realizer promises great benefits,too.This view is also reflected in our survey,with only a few participants considering t

176、he role of orchestrator to be suited to insurance companies.What should insurers do?Given the relevance of the topic,we recommend that insurers take a step-by-step approach to developing and possibly building an ecosystem.In our view,this includes the following steps:Analyze the status quo within th

177、e segment First,carry out thorough analysis of the situation in the relevant insurance line and the market.This will include assessing market development,customer needs and competitive factors and evaluating the specific potential for innovation in order to identify opportunities and challenges.It i

178、s important to understand which roles and players need to exist in an ecosystem and which of these are suited to insurers.This includes identifying potential partners,technology providers and startups that can be integrated into the ecosystem.E Examine the companys compatibility How compatible the c

179、ompany is with the idea and philosophy behind an ecosystem needs careful consideration.This includes clarifying the motivation for engaging in an ecosystem and assessing the resources and internal capabilities required for implementing it.The objective,be it expanding the service offering,increasing

180、 customer centricity or improving the digitalization of the customer interface,among others,must also be clarified so as not to lose focus in the heat of day-to-day operations.Define the insurers role and initiate implementation Once the analyses are complete,the insurer should clearly define what r

181、ole they want to take in the ecosystem and formulate a concrete business plan.Only then can implementation begin,with the content focus and possible strategic partnerships being determined first to maximize added value.Following these three steps will enable an insurer to lay a solid foundation for

182、building and implementing an effective insurance ecosystem.25 Roland Berger|Ecosystems of Tomorrow24 Roland Berger|Ecosystems of TomorrowAUTHORSEXPERTSClemens Frey Partner,Roland Berger+49 160 744 8203 Ulrich KleipaSenior Partner,Roland Berger+49 160 744 Carsten Kst Partner,Roland Berger+49 160 744

183、Tim LammDirector,Roland Berger+41 79 959 Fabian Neuen Partner,Roland Berger+49 160 744 We are grateful to Creative Dock for their support in the preparation of this study.Africa Amine TBenelux Axel Bohlke Lennart van de KGSA Nils BClaudia FJulian GGeorg HRudolf KPascal LSebastian MKarsten NOliver RC

184、hristian SFabian Brger Senior Project Manager,Roland Berger+49 160 744 Christoph ReischSenior Consultant,Roland Berger+49 160 744 Anna Kessler Managing Director,InsurLab Germany+49 171 365 9652anna.kesslerinsurlab-Philipp Johannes Nolte Senior Program Manager,InsurLab Germany+49 151 2877 1981philipp

185、.nolteinsurlab-FranceChristophe AChristian HHong Kong Laurent DItaly Edoardo DMaurizio MMENA Elias Aad Sara BMichael Caracache Scandinavia Pontus MSpain Carla BThis publication has been prepared for general guidance only.The reader should not act according to any information provided in this publica

186、tion without receiving specific professional advice.Roland Berger GmbH and Lazard&Co.GmbH shall not be liable for any damages resulting from any use of the information contained in the publication.2024 ROLAND BERGER GMBH.ALL RIGHTS RESERVED.01.2024ROLANDBERGER.COM26 27 Roland Berger|Ecosystems of To

187、morrowRoland Berger|Ecosystems of Tomorrow23_0213_REPPublisherRoland Berger GmbHSederanger 180538 MunichGermany+49 89 9230-0ROLAND BERGER is the only management consultancy of European heritage with a strong international footprint.As an independent firm,solely owned by our Partners,we operate 51 of

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