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  • Writer's pictureThe NTWK

💊 Daily Learning: TheNTWKPill “The Insurance Sector. How is facing platformization?”, by Torrance

from #TheNTWKTalk “Digital Business Models”

Do you want to know how the insurance sector is facing platformization? Watch what Simon Torrance told to us:


- An example is a company that said: we are no longer going to be an insurance company, we're not an insurance company we're going to be a platform company that happens to own financial services licenses

- What they wanted to do is to be more deeply involved in their customers’ everyday lives, so they created a set of separate platform businesses. And those businesses individually became very powerful because they were platform startups, they were marketplaces, so they had all the power of a marketplace business model: they worked with entrepreneurs to execute them (because they didn't have the capabilities in-house to do that) and then they linked these all together

For more on this topic, follow Platform Economy and Business Ecosystems and access the full🎙🎙Recording Session on TheNTWKEvents Node


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