Accenture survey finds technology giants competing with insurance companies

The total annual volume of property and casualty (P&C) and life insurance policies sold through digital channels in Europe could reach EUR25bn in 2016, more than double the 2012 value of EUR12bn, according to a new Accenture (NYSE: ACN) study based on a survey of 78 insurers across Europe.

According to the study, policies sold through digital channels are expected to account for 18 percent of European insurers´ total annual new business premium volume in 2016, compared to 11 percent in 2013.

The study also finds that 78 percent of European insurers are planning to increase investments in the digital transformation of their sales and distribution functions, and expect to spend EUR27m, on average, in this space over the next three years.

Accenture is a global management consulting, technology services and outsourcing company, with approximately 275,000 people serving clients in more than 120 countries. The company´s website is at www.accenture.com.

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