Insurers Accelerate Digital Transformation Strategies to Improve Customer Experience and Drive Revenue Growth

Insurers are accelerating their plans to become more digital, driven by increased adoption of Internet of Things technologies (IoT), data and analytics tools and digital-first distribution models, according to an Accenture (NYSE: ACN) report based on a survey of more than 400 insurers globally.According to the Accenture report, titled “Reimagining insurance distribution: Insurers accelerate the shift to a radically different distribution model,” nearly half (45 percent) of insurers believe that connected devices will be a driver of revenue growth in the next three years. While much of the early adoption was in vehicle telematics, there has been a significant increase in other IoT related products over the past year.