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Innovate for resilience and new insurance revenue

April 12, 2021

RESEARCH REPORT

In brief

What’s at stake for insurers

85%

Historically, customer retention rates have hovered around 85% for most insurers.

5%

With the shift to digital channels and third-party platforms, insurers who decline to innovate could see revenue declines of nearly 5%.

Turn emerging risk into exceptional reward

Health/wellness and life products and services

$120 billion in revenue from smart health products and services, particularly for aging populations, and direct life and wealth management products

Sharing economy, climate change, and cyber threats

$115 billion in revenue from products and services to address new exposures, like climate change, sharing economy asset usage, and bigger cyber threats

Integration of tech with traditional P&C products

$120 billion in products and services enabling smart auto, smart home, and smart manufacturing

Shifting premium to alternative distributors

$125 billion from premium shifts to new distributors, like big tech, manufacturers and insurtechs, and direct sales of small commercial insurance

SENIOR MANAGING DIRECTOR – GLOBAL INSURANCE LEAD


MANAGING DIRECTOR – ACCENTURE STRATEGY

Meet the team

Kenneth Saldanha

Senior Managing Director – Global Insurance Lead

Daniele Presutti

Senior Managing Director, DIN Chairman – Insurance Lead, Europe

Jim Bramblet

Senior Managing Director – Insurance Lead, North America

Naoyuki Shibata

Senior Managing Director – Insurance Lead, Growth Markets
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