Accenture predicts1 significant global growth in the insurance coverage industry within the next five years. However, revenue pools will shift, and life insurers will need to innovate to gain a competitive advantage from not just product innovation, but also innovation in distribution channels. How much opportunity reaches stake? According to Accenture's report, almost five percent of global premiums-approximately $280 billion-are anticipated to be impacted by innovations in products ($140 billion) and shifts to digital third-party platforms ($140 billion). Given these seismic shifts, we see the following opportunities for you to increase your business:
1. Combined digital insurance and wellness platforms enhance customer experience and make trust
Data-driven digital insurance platforms can unlock insights that help you shape the experience that every consumer expects. When infused with>Disclaimer: The information is provided for general information purposes and is not intended to be utilized in place of consultation with our professional advisors.
