With digital technology now transforming the economy with breathtaking speed, companies that once considered their turf safe from encroachment by competitors are now having to rethink traditional business models. Perhaps nowhere is this more urgent than in the insurance space — a sector whose corporate practices have changed little over the decades. The stakes are huge: According to a new report from Accenture, as much as $470 billion in life insurance and property & casualty insurance premiums are in play. The chief reasons are: plummeting customer loyalty and a perception among potential buyers that that they’re buying commoditized products.