Innovation must be a company-wide endeavour for a company to benefit from it. Insurance companies are utilising technology to achieve their goal of tailoring the consumer experience. And frequently, this begins with stakeholders calling for the modernization of PAS. The largest outboard engine in the world, the 600 horsepower V-12 Verado from Mercury, is restricted to a boat on a small lake when technology is used in isolation. It's standing still. In order to assure profitability and expansion into new markets, a solid business model should be built on technology.

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