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After many years of challenges, 2018 proved to be a year of quite a few adjustments for many insurers. Some insurers found that there were opportunities in adjusting to a new paradigm where business and distribution models came under intense scrutiny. Other insurers found the going tough, but still came out of the other end of the tunnel.
The initial cost of optimizing company operations by investing in insurtech is one of the biggest deterrents for brokers, but we should be focusing on the savings and value rather than the costs.
What do you believe will be the biggest challenge when the COFI framework is finally implemented?