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Property and Casualty Insurance

The property and casualty (P&C) insurance industry must respond to economic conditions and evolving customer preferences by transforming operations and embracing new ways of working. Our property and casualty insurance consulting team helps insurers adapt and thrive.

As the P&C insurance market changes, insurers need to embrace new strategies and ways of working as well as accelerate investments in digital and analytics. Retail P&C insurers must satisfy customers who are more conscious of brand and value and who are more willing to research and purchase insurance online, switch insurers, and buy from nontraditional providers. On the commercial side, providers must contend with more complex supply chains, value chain disruption, and market developments, including increased cyber risks and regulation. A competitive market is also pushing partnerships and larger M&A deal sizes.

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

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The nine levers that we developed from our extensive insurance industry experience help insurers close their digital maturity gap and better serve customers.

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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.

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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.

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The Digital Acceleration Index analyzes insurers’ strengths and weaknesses in order to prioritize areas for improvement and accelerate digital innovation.


Our Latest Thinking on Property and Casualty Insurance

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What Forward-Looking Insurers Are Focusing On Now

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

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