A $375 billion growth opportunity is emerging in the insurance industry. Customer experience is at the center of this opportunity. Insurers that respond and succeed will be what we call "living businesses".

Unwaveringly customer-centric insurance companies that adopt fluid models and flexible platforms and talent are what we call "living businesses." These insurers understand their customers, and adapt and innovate constantly—at speed and scale—to remain hyper-relevant. Their vitality and responsiveness to their environment enable them to evolve perpetually, just as living organisms do.

The opportunity comprises entirely new revenue sources; improved, profitable penetration of hard-to-reach segments; and the expected impact of shifts in market-share. It will disproportionately benefit insurers that become living businesses, at the expense of their less responsive and competitive peers–those that choose to wait and see how the industry evolves.

Growth potential of industry over next five years


Potential new revenue worldwide, by 2022


Revenue from new streams and enhanced operations


Value of the anticipated market-share shift

New revenue growth opportunities by line of business. New revenue growth opportunities by region.

What will it take to profit from this opportunity?

Not all carriers will be able to take advantage of these emerging opportunities. From their culture and leadership to their corporate structure, talent pools and IT architecture, many insurance companies lack the customer-centricity, flexibility and vitality to respond effectively.

Living businesses, however, regard the customer experience as their focal point, and hyper-relevance as the acid test of all they do. Relatively simple organizations, they understand how risk is evolving in a digital era, and how the roles of customers and ecosystems are changing. And they continuously hone their ability to create, recognize and seize new opportunities.

Our research shows that to transform into a living business it’s necessary to excel in five key areas


Develop the desired value road map to drive a balanced, value-focused growth strategy


Create living services that drive remarkable experiences

Building & Iterating

Set up intelligent platforms for innovative services focused on outcomes


Join diverse ecosystems to deliver compelling customer experiences


Nurture a fluid organization with a flexible insurance workforce that puts the customer experience front and center

View All

Read more about becoming a living business

Our detailed report delves into the new revenue opportunities that digital disruption is uncovering for customer-centric life, commercial and personal lines P&C insurance companies.

It also explores the winning traits of a living business—hyper-relevance, agility, vitality and innovativeness—and spells out the steps carriers must consider to become winners in an increasingly unpredictable marketplace.

Erik Sandquist

Managing Director – Insurance, Global Customer Insight & Growth Lead

Alessandro Secchi

Offering Development Lead – Financial Services, Customer Insight & Growth​

Jim Bramblet

Managing Director – Insurance Lead, North America


Becoming a living business
Accenture Technology Vision for Insurance 2019

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