Accenture on Eco-systems And Open Insurance

The insurance industry is facing significant disruption. Many insurance providers are looking to digital eco-systems to give them the agility and customer reach they require to thrive in the post-digital era:

1. 75% of insurers expect eco-systems to deliver at least half of their revenues within five years.

2. 58% are actively seeking eco-systems and new business models.

3. 82% agree that eco-systems allow them to grow in ways that are not otherwise possible.

To unlock the potential of eco-systems and generate strong revenue growth and build sustainable asset value, insurers need to seize a significant opportunity – open insurance. Open insurance substantially enhances insurers’ products and services while also opening many new revenue streams. Carriers can capitalise on the huge flows of real-time data that open insurance unleashes to launch a host of new customer offerings.

Source: Accenture