2018 Insurance Industry Outlook
Industry trends, strategies to stay competitive
As technology innovation, higher customer expectations and disruptive newcomers redefine the marketplace, insurers remain focused on growing top-line sales, bottom-line profitability, addressing challenges, and competing in a dynamic industry. Our 2018 Insurance Industry Outlook pinpoints key opportunities and threats that should demand attention from insurers over the next 12-to-18 months.
Setting the agenda
Insurance company leaders have a lot on their plates. Political and regulatory upheavals around the world are changing some of the ground rules about how carriers may operate. An accelerating evolution in the way business is conducted is being driven by innovation and higher customer expectations, while disruptive newcomers are looking to take market share from incumbent insurers. In particular, carriers have been racing to keep up with insurance technology development, as we recently documented in Fintech by the numbers, which analyzes startup financing activity and trends.
However, in preparing our annual insurance outlook, we recognize that most insurers remain focused on two overarching goals: growing top-line sales while bolstering bottom-line profitability. Standing in the way of insurers achieving these objectives are a wide range of challenges. Not all of them are within the industry’s control, such as rising interest rates and catastrophe losses. But how effectively insurers anticipate, prepare, and adapt to their shifting circumstances, both strategically and operationally, is well within their control, and can help differentiate them in the market.
Download the 2018 Insurance Industry Outlook and read more about:
- Where do insurers stand as they enter 2018?
- Growth options: Insurers can capitalize on connectivity, digitalization.
- Insurers deal with a shifting landscape.
- Carriers start to flex their muscles in the new InsurTech ecosystem.
For more information please contact Marco Vet via the contact details given below.