An Insurance Business Magazine article.
Global insurance premiums could reach US$10 trillion by 2030, as the industry transitions into a new societal role, according to a report by Bain & Company.
The insurance industry is undergoing a transformation in its role, moving from seeking reimbursements for damages to incentivizing behaviours to reduce overall risk, according to the report, titled Insurance 2030: As Risks Mount, Insurers Aim to Augment Protection with Prevention.