Insurance CEOs pick up the pace | KPMG | US

Preparing to disrupt and grow: Insurance CEOs pick up the pace

Insurance CEOs pick up the pace

Global survey suggests the need for insurance CEOs to accelerate their transformation and innovation efforts to remain competitive.

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KPMG asked more than 100 global insurance CEOs about their plans and concerns over the next few years, and reveals some surprising insights. This report highlights the top-level findings and how insurance CEOs will need to pick up the pace of transformation and innovation to remain competitive in this rapidly-evolving market.

Positive signs of positive activity

The majority of CEOs view technological disruption as an opportunity, rather than a threat, to create competitive advantage and improve their operations. 

New concerns emerge

In response to emerging risks, insurance CEOs are focusing on fostering innovation, becoming more data-driven, and implementing disruptive technologies.

Bridging the gap and the way forward

Insurance organizations need to accelerate their transformation efforts if they hope to live up to their growth and transformation ambitions. 

Five key takeaways as insurance CEOs prepare to disrupt and grow:

  1. Disruption is long-term - it may take some time and effort before the benefit of transformation can be fully realized.
  2. Customers are key - most CEOs still have a long way to go in improving customer relationships and truly differentiate themselves.
  3. Risks are changing - firms should concentrate on their governance and core capabilities.
  4. The future is everything - CEOs need to understand their strategic positioning and innovation strategy for the future.
  5. Focus for results  - CEOs need to be focused in the way they invest, targeting technology and investment that truly compliment the business model and future direction

Learn more at the 2017 Insurance Industry Conference

To gain more insights about the CEO survey and other key issues transforming the industry, join us at the 2017 KPMG Insurance Industry Conference on September 12-13, 2017, in New York City.  This year’s conference, themed “Navigating through Disruption” will focus on the issues, strategies and future thinking that insurers will need to consider to deal with the uncertainty and disruption in the industry.

Register now!

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