Automation could leave up to 25 percent of the insurance industry’s current full-time positions consolidated or replaced over the next decade, McKinsey & Co. said in a new report, Automating the Insurance Industry.
The consultancy urged insurers to “rethink their priorities right now” and focus on revamping their operations to accommodate the digital transformations contributing to the trend.
Priorities “should include retraining and redeploying the talent they currently have, identifying critical new skills to insource, and retuning value propositions in the war for new talent and capabilities,” McKinsey & Co. said.
