Multi-line p/c insurers challenged by new business models

A new study reveals how product focused and lean operators are outperforming more traditionally minded insurers

Strong, lean, or specialised – these are the three recipes for a successful P&C insurer, according to consultancy firm McKinsey and Co. The three business models – which McKinsey called lean operators, strong brands and distributors, and product experts – are increasingly capturing market share from other players, and pose enough of a threat to traditional multi-line insurance companies to force these to rethink their strategies, a new report from the consultancy firm says.