McKinsey claims 90 % of full - time jobs will be lost in the insurance industry over the next 20 years , as digitalisation and machine learning enables more automation of insurance activities . That competition will almost certainly increase as the digital transformation takes hold. It states that insurance companies will need to attract and retain employees with more digital expertise , but many roles in operations and administrative management are likely to be consolidated or eliminated ; with expectations of over 90 % of job losses occurring in these areas .
McKinsey claims 90 % of full - time jobs will be lost in the insurance industry over the next 20 years , as digitalisation and machine learning enables more automation of insurance activities . It states that insurance companies will need to attract and retain employees with more digital expertise , but many roles in operations and administrative management are likely to be consolidated or eliminated ; with expectations of over 90 % of job losses occurring in these areas .