The following is the Insurance revenue report 2025 From accenture recommended by recordtrend.com. And this article belongs to the classification: original, accenture , research report, financial technology.
According to a new report from Accenture, the increasing demand for digital premium and its online distribution in 2025 is expected to replace the current $280 billion worth of insurance revenue and challenge the current level of customer retention.
Despite the global economic recession in 2020, the global insurance industry is still growing from US $6.1 trillion at the beginning of 2020 to US $7.5 trillion at the end of 2025, with a compound annual growth rate of 3.5%. That includes $800 billion in U.S. – centric health care premiums.
Customers update their policies through data-driven products, and the current $140 billion insurance revenue may shift from traditional insurance products to technology-based insurance products, including behavior based Internet vehicles and smart home insurance. At the same time, when customers purchase insurance on digital channels and third-party platforms, insurance companies that provide digital issuance experience may replace another $140 billion in revenue from traditional insurance issuance.
The report estimates that the integration of life insurance, health and wealth industries will generate $120 billion in new revenue, of which $60 billion will come from smart health products; Providing $30 billion in products and services for the aging population; And $30 billion in direct living and wealth management products.
Insurance companies will also compete for new revenue to cover emerging and developing risks. As insurers underwrite environmental disaster risks, climate change related risks are expected to generate $50 billion in new insurance revenue. With the rapid increase of cyber threats, the coverage and risk mitigation services related to cyber threats are expected to generate another $25 billion. Insurance companies that use digital technology (such as artificial intelligence and Analysis Technology) to improve pre accident and post accident processing will realize more complex risk modeling and accident response.
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