Market Disruption in the Insurance Industry and Use of Foresight and Futures Thinking to Meet Challenges: A Case Study of Aviva PLC

Bentil Oduro (), Sunny Akpabot (), Alfred Akakpo () and Evans Akwasi Gyasi ()
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Bentil Oduro: Coventry University
Sunny Akpabot: Coventry University
Alfred Akakpo: University of Northampton
Evans Akwasi Gyasi: Anglia Ruskin University

Chapter Chapter 8 in Futures Thinking and Organizational Policy, Volume 2, 2024, pp 183-224 from Springer

Abstract: Abstract Aviva is a British multinational insurance and public limited company headquartered in London. This case describes disruptions within the organization that arose from shift in wealth (internally) and government regulations (externally) as a result of volatile changes in global climate, public health, and technology. Competing Insurtech start-ups abounded, facilitated by blockchain technology and digitally driven customer engagement and claims management. Aviva’s use of strategic foresight and futures thinking steered the company’s actions as it survived these continuing challenges. Aviva’s implementation of related organizational policies institutionalized its efforts and sustained success.

Keywords: Strategic foresight; Futures thinking; Global uncertainty; Insurance; Organizational policy (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-55956-3_8

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DOI: 10.1007/978-3-031-55956-3_8

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