Insurers have been urged to raise their game as groups such as Google and Amazon make inroads in personal lines.

Customers are increasingly receptive to overtures from the tech majors, according to a report from technology consultant Capgemini.

About 29.5% of consumers surveyed for the annual World Insurance Report are open to buying at least one insurance product from a technology company.

More than 40% of Asia-Pacific respondents are ready to make the switch from incumbents, up from 25.1% in 2015.

In North America the proportion has increased to 32.6% from 16.4%, and in Europe it is up to 20.9% from 9.2%.

“No longer is there any doubt,” the report says. “The heat is on incumbent insurers to enthusiastically prepare for challenges from digitally agile players.

“The stakes are high these days as powerful big techs dip their toes in insurance waters, while simultaneously focusing on their ‘day job’ of shaping and filtering consumer demands.”

Insurers must find ways of becoming more digitally agile. They should develop insurtech-style capabilities at all operational layers and employ greater use of technology such as telematics, Capgemini says.

“Insurers must accelerate their own adoption of technology to simplify transactions, to keep customers regularly updated, and to develop new avenues for significant engagement.”