The insurance revenue landscape is shifting in a myriad of fast-acting, unexpected ways. In our recent Insurance Revenue Landscape 2025 study, we were able to analyze customer demands to understand the trends shaping global revenue pools. Based on this research, we predict that the insurance industry will be influenced by the following four areas of…
In 2019, some Accenture research looked at the relationship between enterprise IT strategy and revenue growth across thousands of major businesses. The findings were interesting: businesses identified as tech Leaders based on the strategic agility and scalability of their IT systems were growing twice as fast as businesses with the weakest enterprise IT systems. But…
Last week we announced the winners of the Efma-Accenture Innovation in Insurance Awards 2021. Every year I’m excited to see the submissions come in. This year we received 460 entries from 289 organizations across 55 countries. That’s an enormous number of innovations and especially impressive for a period when the COVID-19 pandemic disrupted so many…
Life insurers that invest in artificial intelligence (AI) can improve the customer experience by making it more personalized and data-driven. With AI, carriers can profitably attract and retain customers with new “pay-as-you-live” products and services that reward consumers’ healthy habits. Insurers are increasingly recognizing AI’s promise: global insurance spending on AI platforms will reach $3.4…
In my previous two blog posts in this series, I talked about our data-driven research into how insurers responded to the COVID-19 pandemic. I already wrote about communities and customers, so now I will turn to agents/partners and employees. Insurers launched new tools and support for agents and partners Short-term initiatives While most insurers offered…
As the world emerges from the COVID-19 pandemic, the insurance industry will not be going back to business as usual. Rather, insurers are going forward to face new risks and new rules. In this month’s Insurance News Analysis, Abbey Compton and I talk about moves by the U.S. and U.K. governments that insurers will want to watch. President Joe Biden issued two executive orders. One mandates the creation of a climate-risk…
