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Viewpoint: Can Intelligent Automation Ensure the Survival of the Insurance Industry?

August 19, 2022

The economic viability of the insurance industry’s current business model has been in question for several years. McKinsey’s 2022 Global Insurance Report shows that 52% of the industry’s global equity had a return on equity (ROE) lower than their cost of equity over the past five years. While most insurers predict premiums will continue to rise in 2022, following the 2020 pandemic-induced growth rate contraction to 1.2%, many non-pandemic obstacles remain in place, including changing consumer preferences and the rise of relevance-challenging advanced technologies.

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