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Strategic Resilience: 4 Alternatives You Can’t Ignore In P&C | Insurance coverage Weblog


How do insurance coverage corporations construct strategically resilient enterprise fashions in an unpredictable future? To start out, the longer term isn’t totally unpredictable. The impacts from most of the most talked about disruptors, together with telematics, local weather change, automation, AI-driven service fashions and plenty of extra, are proliferating via the insurance coverage trade. Now the questions are: How quickly will we reply if the traits proceed to speed up, decelerate or change totally? What occurs to the trade? What ought to my firm do? How can we be ready? That’s the guts of our new whitepaper on the North American P&C industry.

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Within the first weblog of this sequence, I outlined the worth of creating resilient enterprise methods utilizing inputs from Accenture’s proprietary future state of affairs modelling toolkit. The second weblog used sustainability to point out a high-level utility of strategic resilient planning. This third weblog provides a deeper whitepaper to research how the North American P&C trade might be affected by a few of these key trade developments.

My purpose is to point out how the convergence of those traits will create alternatives and dangers that may be assessed and quantified when it comes to their potential. These insights ought to assist body the important thing concerns that insurance coverage corporations needs to be exploring.

To do that, we picked 4 main themes impacting the North American P&C trade proper now:

  1. The altering face of mobility (ridesharing, interconnected vehicles, electrical autos)
  2. Protected and resilient property (interconnected sensible houses, local weather resilience)
  3. Small industrial “digital attackers” (small enterprise options, technology-enabled direct distribution)
  4. Accelerating cyber demand (rising demand, growing authorities regulation)
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We appeared on the potential traits in every theme over the following three years, to 2025. From there, we analyzed totally different situations based mostly on the acceleration of these traits to find out worth at stake (outlined as shifting or new premium {dollars}).

The beneath graph is a abstract of every theme we discover within the report. Collectively, our evaluation reveals over $120 billion in worth at stake throughout these themes by 2025. So, how do you seize that worth? To seek out out and uncover extra insights, register to read our report, Strategic resilience: 4 opportunities you can’t ignore in P&C insurance.

Click on/faucet to view a bigger picture.

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Disclaimer: This content material is supplied for basic data functions and isn’t supposed for use instead of session with our skilled advisors.

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