When speaking with industry veterans about the positive impact of InsurTech on their businesses the commentary often turns to improved operational efficiency and increased margins. Whilst improving the costs associated with doing business will deliver shareholder value, I believe that there is an even greater opportunity to expand the insurable market and grow bottom line revenues.
Insurers who are early technology adopters will have a first-mover advantage in some of the largest untapped markets, enabling them to return far more value to shareholders over the long run.
Accenture identified five levers that will help proactive insurers tap into the $375 billion revenue growth opportunity, and accessing previously difficult-to-serve demographics — like the chronically ill or rural poor — took the lead, accounting for $144 billion of this estimated amount.
http://uk.businessinsider.com/innovative-insurers-have-a-375-billion-opportunity-2018-2
