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Demand for digital services could displace $280bn of premiums

May 24, 2021

Analysts at Accenture have reported that rising demand for digital insurance premiums and their online distribution could displace $280 billion of current insurance revenues by 2025, challenging current customer retention levels.

In a new report, Accenture analysed how the insurance industry’s revenues will be affected by new customer, demographic and technology trends.

The research shows that, despite the global recession of 2020, the global insurance industry is projected to grow from $6.1 trillion in early 2020 to $7.5 trillion by the end of 2025, representing a compound annual growth rate of 3.5%.

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