Woman insurance agent taking pictures of broken car on mobile phone closeup. Estimating cost of vehicle damage concept More insurance companies are investing in modern digital technologies to reduce their costs, increase revenue and stay competitive. In fact, the top sources for cost reduction among insurers today involve digital transformation, technology modernization, and data and analytics, according to a recent Accenture survey of global equity analysts. That compares to the rush by insurers to pursue third-party outsourcing or offshoring models to cut their costs in prior decades.