How will the evolution of smart cities impact the insurance industry?

How will the evolution of smart cities impact the insur

The societal and work restriction brought about by Covid-19 has shown that incremental business models can be boosted by a single crisis.

1000

Also on home.kpmg

How will the evolution of smart cities impact the insurance industry?

The future is often nearer than you think. Sometimes it takes a single trigger to accelerate change on an unforeseen scale. The societal and work restriction brought about by Covid-19 has shown that incremental business models can be boosted by a single crisis: take, for example, online shopping. In the USA, market share of online shopping has been growing at 1% a year.

Due to the national lockdown, that number ballooned from 18% to 28% - that’s a decade’s growth in 2 months. Post the lockdown, this figure will almost certainly drop but it is expected that it will settle at a level that represents at least a few years’ worth of growth due to newer adoptions and understanding the value proposition of a new buying channel.

 

Download the full article below

© 2022 KPMG Services Proprietary Limited, a South African company with registration number 1999/012876/07 and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.


For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal

Save, Curate and Share

Save what resonates, curate a library of information, and share content with your network of contacts.

Sign up today