Global technology services, digital transformation and consultancy firm Capgemini has launched its inaugural World Insurtech Report, which finds that across the board, insurers see insurtech as a major catalyst for widespread, disruptive innovation throughout the industry. “The greatest impact insurtech firms are having on the insurance industry is that they server as a ‘wake-up call’ to incumbents,” commented Ingo Weber, Group CEO and Co-Founder of Digital Insurance Group, and a member of Capgemini’s Executive Steering Committee. “Insurers suddenly realised that the paradigm shift in technology will fundamentally impact the industry and put their existing business at risk. As a consequence, many insurers are now exploring how to drive digital innovations and partnerships with insurtechs that can support the transformation of their business. Adapt or die.”; Interestingly, 78 per cent of respondents to Capgemini’s survey said that they were more interested in partnering with insurtechs than acquiring them, tacit acknowledgment perhaps that these new entities have the tech knowledge necessary to move forward and should be supported and allowed to do what they do best, rather than being immediately swallowed into the corporate hierarchy.