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McKinsey has just published a report entitled “Digital Disruption in insurance”, packed with interesting information! The starting point is simple: fewer bonuses, more competition. More specifically, the authors argue that the insurance industry has long been protected by barriers to entry (strong regulation, product complexity or large financial balance sheets), but this time is now over and many digital actors are taking a close interest in the huge opportunities of the sector.
Here are some points to remember from reading this report.