Disaggregating companies’ total shareholder return is telling. Profitable growth is essential to sustaining long-term value creation because it contributes to each component of TSR.
To adapt, both retail and commercial insurers must:
- Rethink their value propositions and improve the customer journey by offering more personalized products and reinventing distribution.
- Operate efficiently to minimize costs and maximize margins.
- Form new partnership ecosystems.
- Adopt digitization—including artificial intelligence (AI), smart operations, and advanced analytics—and combine human creativity and expertise with the power of technology to build for the future.
Our Approach to the P&C Insurance Market
Our property and casualty insurance consulting team helps P&C insurers transform and work more efficiently to reduce costs and improve the value they deliver to customers and shareholders. We do this by:
- Identifying the strategies, partnership agreements, technology investments, and M&A deals that spark growth
- Working with clients across the insurance value chain, including product development, sales, underwriting, claims, payments, and customer service
- Combining digital transformation expertise with knowledge of strategic workforce planning to help clients adopt agile at scale and future-proof their workforces
Our approach to P&C insurance consulting is built on our understanding of the non-life-insurance business. That comprehension was developed in part through our work with some of the world’s preeminent insurance players, our knowledge of industry sectors and regional markets, and our partnerships with leading clients through enterprise-wide transformations. BCG senior consultants with deep industry experience, including experts who previously worked for top P&C insurance companies, also contribute to our insight.
We combine our P&C insurance consulting capabilities with a set of proprietary tools.
Our Property & Casualty Insurance Tools
The nine levers that we developed from our extensive
insurance industry experience help insurers close their digital maturity gap and better serve customers.
Our P&C industry consultants work with
BCG's business transformation experts to deliver the kind of short-term impact and longer-term transformation that companies need to emerge as winners from down markets.
Our
Insurance Excellence Benchmark gauges performance on key dimensions, such as customer centricity and digital readiness. It uses a variety of data to help insurers identify and close competitive gaps.
The
Digital Acceleration Index analyzes insurers’ strengths and weaknesses in order to prioritize areas for improvement and accelerate digital innovation.
Article
September 2, 2022
Article
September 2, 2022
US P&C insurers have performed well compared to their international counterparts. However, outperformance in the current macroeconomic environment demands a laser focus on profitable growth.
Article
October 4, 2021
Connected devices are becoming ubiquitous in the industry. It’s time for commercial property and casualty insurers to seize this opportunity.
Article
May 29, 2020
The COVID-19 pandemic—along with the new reality taking shape because of it—has created a clear mandate for insurers: deal with the rigors of the present and the near future while starting to prepare for challenges and opportunities over the longer term.
Meet BCG’s Property and Casualty Insurance Consulting Leaders
