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

In: Futures Thinking and Organizational Policy, Volume 2

Author

Listed:
  • Bentil Oduro

    (Coventry University)

  • Sunny Akpabot

    (Coventry University)

  • Alfred Akakpo

    (University of Northampton)

  • Evans Akwasi Gyasi

    (Anglia Ruskin University)

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.

Suggested Citation

  • Bentil Oduro & Sunny Akpabot & Alfred Akakpo & Evans Akwasi Gyasi, 2024. "Market Disruption in the Insurance Industry and Use of Foresight and Futures Thinking to Meet Challenges: A Case Study of Aviva PLC," Springer Books, in: Deborah A. Schreiber & Zane L. Berge (ed.), Futures Thinking and Organizational Policy, Volume 2, chapter 0, pages 183-224, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-55956-3_8
    DOI: 10.1007/978-3-031-55956-3_8
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