The insurance industry is well-known for its conservative nature, but that’s a characteristic that’s now having to evolve as the industry faces the digital age. No area of commerce, insurance included, has been spared from the massive, digitally-driven shifts that are hugely increasing consumer expectations for customization, personalization and real-time responsiveness.
For these reasons, trending tech topics such as artificial intelligence (AI), the Internet of Things and blockchain are rapidly becoming hot topics in these most traditional of boardrooms.
PwC’s 2017 CEO Survey indicates that insurance industry leaders aren’t resisting change – on the contrary, they’re starting to embrace it. This apparent willingness to innovate aligns with the results of the Global Interconnection Index, a market study published by Equinix in 2017. The Index projects that the banking and insurance industry’s interconnection bandwidth could grow at a 61% compound annual growth rate to 2020, when it is expected to have the highest installed interconnection capacity of any industry.

Innovation and interconnection in the insurance industry will remain inseparable as it continues to evolve. Check out the full article on the Equinix Blog and have a look at the Global Interconnection Index to see forecasts about projected growth in interconnection worldwide.