PwC US released a report that identifies key areas of opportunity and challenges for insurers in 2013. PwC's annual report—Top Issues: The Insurance Industry in 2013—points to several issues that are having a profound impact on the industry including customer experience, big data and analytics, operations, and emerging changes in automobile insurance.

Companies in the vanguard are focusing on new ways to improve data collection and analysis, as well as claims, billing and other operational areas. These efforts are part of an industry-wide effort to more effectively engage with customers, exploit information and analytics, and manage risk.

"All of these initiatives have a common goal of increasing efficiency and growing the business," says Jamie Yoder, U.S. Insurance Advisory Practice co-leader, PwC. "These developments will touch every part of an insurer's business—from risk management to product development to customer service."