Accenture's 40% number is certainly alarming...or at least raises a significant challenge for re/insurers. Not a day goes by when one does not hear and read about all the effects that insurtech and digital disruption are bound to have on the re/insurance industry. But Accenture's view that up to 40% of re/insurers' traditional revenue could evaporate in the coming 5 years due to digital disruption does a good job of emphasizing how significant the effects of insurtech are expected to be. In addition to the article below, there is more at the following blog at Accenture: https://insuranceblog.accenture.com/looming-digital-disruption-likely-to-knock-insurers-revenues.
Accenture, a global management consulting company, has suggested that re/insurers are unprepared for the scale of potential digital disruption, and claims that some carriers could lose up to 40% of their traditional revenue within the next five years.
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