Insurers must " live or die , " according to a new Accenture blogpost . To survive , they must adapt to the demands of digital technology and implement a range of initiatives , including developing new products , improving customer experiences , securing additional markets , adapting internal skills and culture , and fulfilling employee tasks . Competition within the digital market will intensify : in the last year , insurtech start - ups have secured $ 500 and many other tech companies are targeting the sector .
Insurers must "innovate or die," according to a new Accenture blogpost. To survive, they must adapt to the spread of digital technology and implement a range of initiatives, including developing new products, improving customer experiences, securing additional markets, adapting internal skills and culture, and changing employee tasks. Competition within the insurance market will intensify: in the last year, insurtech start-ups have secured $2.5bn and many other tech firms are targeting the sector.