The Accenture Technology Vision for Insurance 2018 report highlights how rapid advances in technology are improving the ways people work and live, and how insurers are reinventing their businesses to keep pace.
Eighty-two percent of insurance executives agree their organizations must innovate at an increasingly rapid pace just to maintain a competitive edge. Leading insurers are embracing emerging technologies such as blockchain, virtual reality, and intelligent automation, weaving themselves seamlessly into the fabric of people's everyday lives. Carriers are also broadening their ecosystems, partnering with customers, employees, startups, and even governments to help society harness the power of these technologies while mitigating their risks, empowering their own growth in the process.
Intelligent insurer unleashed
Our Insurance Technology Vision explores five trends that will profoundly impact insurers in the not-so-distant future:
Artificial intelligence (AI) is becoming more autonomous and sophisticated, evolving from robotic process automation in the back-office to AI serving customers on the front-line. Our survey found that four out of five insurance executives believe within the next two years, AI will work next to humans in their organizations, as a co-worker, collaborator and trusted advisor.
To build trust with customers and employees, and reap the benefits of supercharged efficiency, insurers must acknowledge the impact AI has on people’s lives. They must “raise” their AIs to act as responsible, productive members of society.
The future of insurance points to carriers embedding themselves into society and helping to improve the quality of human life by playing a role in the transformation of industries such as transportation, healthcare, and even farming. Register to download the Accenture Technology Vision for Insurance 2018 report, executive summary, overview presentation and listen to the 19-minute audiobook featuring key points from this year's research.