Six trends will have a transformative effect on insurance over the next three to five years, according to “Accenture Technology Vision 2014 For Insurance; From Digital Wallflower to Digital Disrupter,” from Accenture. Those trends include the blurring of the digital and physical; crowdsourcing and the rise of the borderless enterprise; the increased availability of data and the ability to put it into circulation through a data supply chain; harnessing advanced hardware; the business of apps; and architecting for resilience.

“Those that ride the digital wave brought on by trends such as crowdsourcing, advanced analytics and visualization, intelligent devices, hyper scale computing, and modular business apps will be able to stave off competition from would-be disrupters and redefine the industry on their own terms,” Accenture said.

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