Joe McKendrick

Increasing adoption of digital processes, artificial intelligence and machine learning is opening up new opportunities for the profession.

The increased pressure to 'go digital' has attracted new blood ready and willing to take part in the transformation of the industry.

New business models based on blockchain and cognitive intelligence are coming, which will lead to the introduction of smart contracts for greater efficiency.

Machines are taking over much of the grunt work associated with tasks, elevating the roles of humans to adopt more strategic roles.

Larger, incumbent companies are finally learning the rules of the disruption game, and are coming back stronger than ever.

Incumbents benefit from high barriers to entry, but are themselves less efficient and innovative, Accenture claims.

Skill shortages, funding issues and other structural problems hamper efforts to modernize systems and processes for insurance companies.

No matter how much data is available, there needs to be a cadre of professionals who make sure AI and analytics systems are on target.

Insurers looking to leverage automated, AI-driven customer communications need to make sure they offer value.

There will always be a need for informed agents to provide the human touch that distinguish insurance as a people-centric industry.