As much as $470 billion in life insurance and P&C insurancepremiums will be up for grabs globally as a result of decliningcustomer loyalty and the perceived commoditization of products,according to Accenture's report, “Capturing the Insurance Customer ofTomorrow.”
|“The study data indicates insurers are not keeping up withrising customer expectations, leading to increased customerdissatisfaction with insurance providers,” said said John Cusano,senior managing director of Accenture's global Insurance practicein a statement. “This has created a 'switching economy,' whichthreatens traditional insurers by giving the advantage to companiesmost successful at exploiting digital technologies.”
|Below, a summary of Accenture's findings. Click image toenlarge.
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