Budget 2017: OPINION
JACO OOSTHUIZEN: Pre-empting disruption
MMI is future-proofing its business by creating disruptive capabilities within the company, writes Jaco Oosthuizen
Financial technology (fintech) has grown with the advent of new technology. From blockchain to drones, data analysis to crowdfunded insurance, artificial intelligence to robotics, the Internet of Things to genome technology and wearables, exciting new technology will transform the way consumers engage with financial services companies. Fintech and insurtech have enormous potential benefits for the industry, entrepreneurs, clients and the economy. MMI is particularly interested in fintech, insurtech and healthtech because of their potential to disrupt traditional business models. Insurtech is lagging fintech by about four years but is picking up exponentially. Last year MMI launched Exponential Ventures, a business unit focused on potentially disruptive innovation opportunities in the financial wellness space. Rather than be disrupted by a new entrant, MMI is future-proofing its business by creating disruptive capabilities within the company. It believes disruptive innovation in the ...
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