Ecosystem-led business models No one can exist on their own anymore. Companies need to build effective and trusted digital ecosystems to provide a broader range of services from a curated range of quality offerings, fully aligned with a segment’s profile and characteristics. Ecosystems allow different parties to concentrate their resources and efforts on what they do best and engage in collaborative commercial models to solve the most pressing customer needs without designing and developing assets from scratch. As we shape the future of insurance, we believe that those companies most likely to thrive as they execute on their transition are those that will gradually combine all three of these business models into one. In a time of significant transition, corporate venturing offers a smart approach to managing long term and unpredictable risk. Mitigating transition risks will require: Conducting deep thinking. Deploying risk mitigation techniques and frameworks. Combining existing assets and capabilities with new, more digital ones. Taken together, these steps will accelerate an organization’s ability to set targets, deliver against those targets, and ultimately drive competitive advantage. Based on our extensive cross-sector investigation into transition risk, we’ve refined a proven venturing validation and commercialization approach. We have been working with market-leading European insurers for over two years to take advantage of the transition economy through an effective and practical corporate venturing framework. 39