Insurtech could be an enabler rather than a disruptor of the traditional insurance model, according to a new report from Aon.

The broker examines key areas of potential growth in its annual Global Insurance Market Opportunities report, and concludes insurtech may have a more supportive role than previously thought.

The report says three leading lines where analytics can help with insurance industry growth – cyber risk, casualty catastrophe risk and pathogen risk – may become increasingly insurable through collaborations with insurtech companies. This could open up opportunities for insurers and reinsurers to provide new and enhanced products.

Aon says the on-demand economy presents both opportunity and disruption to the traditional insurance sector. Services such as Uber and Airbnb will lead to greater demand for insurance products that recognise assets such as cars and homes are increasingly used on both a commercial and personal basis.

“We know the insurance sector is facing challenges in the current macroeconomic environment, so we should expect leading organisations in the industry to drive change,” Aon’s Global CEO of Analytics Paul Mang said.

“We are already using technology to make us more efficient as a sector, and to expand into emerging risk markets.

“However, the true transformation will happen as we reimagine risk management altogether.

“In this new environment, collaborations, or what we call open-architecture innovation, will be key to creating net new growth.”