Insurance CEO's are going for growth
Earlier this year, KPMG International interviewed more than 100 CEOs at some of the largest insurance companies around the world. We asked them about their greatest challenges and their business strategies. We talked about their investments into growth and innovation, and explored their greatest risks. We found that, despite challenges there are plenty of bright spots.
In Picking up the pace, our new article series, we present the findings of our research and provide context and ideas to help insurance executives make the most of the changing environment. The series of six unique articles will focus on key themes such as growth, innovation, data and analytics and customer-centricity and will offer new ideas and actionable tips in areas such as cyber security and risk.
In our first article, Going for growth, Laura Hay, KPMG’s Global Head of Insurance, shares insight into why Insurance executives are bullish about their company’s growth prospects - with 85 percent of them voicing confidence in the short-term. However, they also recognise disruption is now upon them making sustainable growth more challenging.
Through discussions with insurers around the world, we’ve found that many are now focused on finding alternative sources of revenue and tapping into new service areas for growth. We see commercial line writers focusing on small-to-medium enterprises (SMEs), and the attention in the life segment has moved towards customer segmentation and niche markets.
Regardless of your growth plans and strategies, we hope you find this article insightful. Please reach out if you would like to discuss how we can help your organisation discover new opportunities for growth in today’s disruptive market.