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

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 indicate a high-level utility of strategic resilient planning. This third weblog presents a deeper whitepaper to investigate how the North American P&C trade could possibly be affected by a few of these key trade developments.

My aim is to indicate how the convergence of those tendencies 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 issues that insurance coverage corporations ought 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 automobiles, electrical autos)
2. Secure and resilient property (interconnected sensible properties, local weather resilience)
3. Small business “digital attackers” (small enterprise options, technology-enabled direct distribution)
4. Accelerating cyber demand (rising demand, rising authorities regulation)

We appeared on the potential tendencies in every theme over the subsequent three years, to 2025. From there, we analyzed totally different eventualities primarily based on the acceleration of these tendencies to find out worth at stake (outlined as shifting or new premium {dollars}).

The under 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 learn our report, Strategic resilience: 4 alternatives you may’t ignore in P&C insurance coverage.

Get the newest insurance coverage trade insights, information, and analysis delivered straight to your inbox.

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