Despite challenges, foreword looking insurers are setting the pace for the industry through collaboration, disruptive technology, automation and their use of data and analytics.
Below are some of the key findings from our 2016 global insurance CEO outlook survey of more than 100 of the largest players in the industry. While CEO’s have told us that they are still grappling with growth in what seems like an interminable low-interest rate environment, there are plenty of bright spots.
Insurance CEO's are proactively seeking collaborative opportunities to enhance shareholder value, and they are much more likely than CEO’s overall to be using disruptive technology to improve customer interactions. It’s no wonder that over 70 percent said innovation is a top agenda item.
They also have said that cyber risk remains a major concern, along with disruptions to their business models via new entrants, new technology and the millennials.
Over the course of the next 4 months, we will be publishing articles on these topics and more. You can read them here!
Data for this article series has been taken from KPMG Internationals global CEO outlook survey of 1,268 chief executives from Australia, China, France, Germany, India, Italy, Japan, Spain, UK and US. Of these, 105 are from the insurance sector.
This article series provides insights into the exceptions of insurance CEO's for business growth and the challenges they face.