Carriers are poised to join the ranks of industries transformed by the digital revolution. But they're constrained by legacy systems, processes and internal cultures, and often lack the internal skills to integrate digital into their operations and strategies.

This overview comes from an Accenture survey of 41 major carriers. The respondents understand the power of digital and are eager to make acquisitions to strengthen their digital presence. But adaptation will likely be gradual as they attempt to rethink their business models to embrace digital components.

"It's critical that insurers should not fall into the trap of simply digitizing existing channels by creating upgraded, digital, or mobile-friendly versions of existing products and services," said Jean-Francois Gasc, a managing director for insurance within Accenture Strategy. "To unlock the full benefits of digital technologies, a change in mindset is required. This paradigm shift requires insurers to continually think from the customer's perspective — that is, outside-in rather than from the company outward. Insurers need to fundamentally change their business models to become digital businesses that are truly customer-centric and that provide consumers with solutions rather than just products."