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Insurance Innovation Capability Report
As the Irish insurance industry continues to experience rapid and profound change, the effects are being felt across every major function in the insurance enterprise. The last five years have brought significant changes in technology, increased competition, higher customer expectations, and evolving regulatory demands. Insurers of the future need to embrace technological, cultural and structural innovation and ensure that their organisation is fully prepared and has the right capabilities to survive and thrive over the long term.
Adaptability will be crucial. In the backdrop of intensifying competition and rising customer expectations, insurance professionals must avoid static thinking and match the accelerating evolution.
Through leveraging real-time data, industry insights, and market-sensing capabilities, underwriters could be better equipped to provide insight on how to avoid and prevent exposures.
ESG transformation refers to a total mindset shift required within an organisation. This includes an active awareness of the risk of climate change and a greater sense of social responsibility and their incorporation at every decision level from top to bottom.
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We hope this paper is of benefit to you as we enter this year ahead. To view our full range of services, or if you have any queries, meet the full team here.
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