Accenture: 5 digital trends redefining insurance firms

1 June 2015 Consultancy.uk

The insurance industry is set to be reshaped by 5 digital trends, research by Accenture shows. For insurance companies to profit from the digitalisation, only adopting digital technologies will not be enough. According to the firm, insurance companies should embrace the 5 trends to connect customers, partners, employees, and industries to expand their value creation and growth.

 The drive to digital

Professional services firm Accenture recently released its ‘Accenture Technology Vision for Insurance 2015 - Digital Insurance Era: Stretch Your Boundaries’ report, in which it discusses the trends shaping the digital insurance business of tomorrow, creating a competitive advantage for the digital leaders. The report is based on a survey of 221 executives from insurance companies across the world.

According to the consulting firm, a new ‘we economy’ is redefining to the insurance industry “whether carriers are ready for it or not”, with 75% respondents believing that the industry boundaries will dramatically blur in the future as platforms reshape industries into interconnected ecosystems.

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