A demanding future

The four trends that define insurance in 2020

Executive summary

The insurance industry stands on the precipice of profound change. And this disruption is not just digital. Demanding customers, new competitors and a changing set of challenges are transforming the insurance industry.

Through honest conversations with over 200 C-suite insurance executives throughout EMEA, we have worked with Financial Times Remark to identify and analyse four key insurance trends that will shape the future of the industry as we know it.

  1. New world, new customers, new solutions.
    Customers’ needs, knowledge and expectations have expanded exponentially in the past decade. How can insurers adapt to their demands?
  2. A different roadmap for growth.
    Our survey reveals growth will come from preventative as well protective approaches, with a range of new services and products. How will service‑based strategies and innovative products change the insurance industry?
  3. The negotiating table beckons.
    In a highly competitive environment, executives acknowledge that organic growth will not be enough. How will the industry use M&A, equity partnerships and alliances to advance growth?
  4. Digital disruption – practical not theoretical.
    Technological change is a given. But knowing about it and acting on it are very different propositions. How can insurers use technologies such as analytics, blockchain and cloud to their advantage?

We explore all these themes in our new campaign A demanding future: The four trends that define insurance in 2020. This series will investigate each of these factors across the whole industry and within the sub‑sectors of Property and Casualty, Life and Re‑insurance, with extensive input from executives within the industry and Deloitte partners.

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