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Strategic Resilience: 4 Opportunities You Can’t Ignore in P&C | Insurance blog




How do insurance companies strategically build resilient business models in an unpredictable future? To begin with, the future is not entirely unpredictable. The effects of many of the most talked about disruptors, including telematics, climate change, automation, AI-powered service models and many more, are spreading through the insurance industry. Now the questions are: How quickly will we react if the trends continue to accelerate, decelerate or change completely? What is happening to the industry? What should my company do? How can we be prepared? That’s the heart of our new white paper on the North American P&C industry.

In the first blog in this series, I described the value of developing resilient business strategies using input from Accenture̵

7;s proprietary futures scenario modeling tool. The second blog used sustainability to demonstrate a high-level application of strategic resilient planning. This third blog offers a more in-depth white paper to analyze how the North American P&C industry may be affected by some of these key industry developments.

My goal is to show how the convergence of these trends will create opportunities and risks that can be assessed and quantified in terms of their potential. These insights should help create the key considerations that insurers should examine.

To do this, we selected four main themes affecting the North American P&C industry right now:

  1. The changing face of mobility (carpooling, connected cars, electric vehicles)
  2. Secure and resilient property (connected smart homes, climate resilience)
  3. Small commercial “digital attackers” (small business solutions, technology-enabled direct distribution)
  4. Accelerating cyber demand (growing demand, increasing government regulation)

We looked at the potential trends in each theme over the next three years, through 2025. From there, we analyzed different scenarios based on the acceleration of those trends to determine the value at stake (defined as shifting or new premium dollars).

The graph below is a summary of each theme we explore in the report. Collectively, our analysis shows over $120 billion in value at stake in these themes by 2025. So, how do you capture that value? To find out and discover more insights, sign up to read our report, Strategic Resilience: 4 Opportunities You Can’t Ignore in P&C Insurance.

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Disclaimer: This content is provided for general information purposes and is not intended to be used as a substitute for consultation with our professional advisors.


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