How curating ecosystems enables self-disruption
Nationwide Insurance required a new brand and a new technology platform to access a customer segment that may otherwise have been unobtainable.
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Leveraging EY Nexus to enable innovation at speed
EY Nexus allowed Nationwide to rapidly set up and scale an innovative new company, Spire, via a curated ecosystem of partners.
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Integrating ecosystems to enable rapid innovation at scale
Integrating ecosystems via curated platforms like EY Nexus could change not just insurance, but every industry.
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What EY can do for you
Fueled by FinTech investments and InsurTech startups, insurance has become a hotbed of digital innovation. In response, insurers must embrace change and rethink business models to move towards a compliant, secure and digitally-enabled operating model to enhance customer, employee, partner and other stakeholder experiences. New digital tools and capabilities help streamline new product development, digital experiences and the transformation of key functions — from marketing, distribution, underwriting and claims to finance and accounting.
Those who fully embrace digital transformation can achieve significant competitive advantages by meeting tomorrow’s customer needs — driving operational agility to respond to changing marketplace expectations. To succeed, insurers must understand what’s possible and take decisive action to deliver value now and ignite long-term growth.
We collaborate with insurers on both large-scale transformation programs and targeted deployments of digital tools and capabilities. Our specific offerings include:
Eight components of digital transformation
EY’s insurance team helps insurers develop the critical skills and capabilities they need to deliver improved performance today and sustainable innovation tomorrow.
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