It’s official: For insurers, “digital technology destroys value.” At least, that’s the assertion in a new McKinsey report, “Time for insurance companies to face digital reality.” If that sounds a bit odd to you, the writers agree. They explain, however, that insurance is facing more disruption than ever in its history, and although the push has been for digital as the enabler to improved processes and outcomes, its effects go farther than that. Authors Tanguy Catlin, Johannes-Tobias Lorenz, Christopher Morrison, and Holger Wilms explain that digital will not only change how traditional insurance products and services are delivered, but it will also change the essence of these products and services, and eventually even the business model itself.