McKinsey thinks 25% of full-time jobs will be lost in the insurance industry over the next ten years, as digitalisation and machine learning enables more automation of insurance activities. The report also suggests that healthcare is set to become a $US1 trillion (£860bn) industry, with an estimated 30% growth from 2020 onwards.
McKinsey thinks 25% of full-time jobs will be lost in the insurance industry over the next ten 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 support are likely to be consolidated or replaced; with expectations of over 90% of job losses concentrated in these areas.