A different roadmap for growth |Insurance Trends 2019 | Deloitte UK

2 A different roadmap for growth

Challenging the status quo is no longer optional

The traditional approach of selling protective products is nowhere near enough for the insurer of the future. Digital disruption and demanding customers mean that insurers need to innovate to stay relevant within their own industry.

We reveal how the insurance industry is searching for growth – be that through new service-based models, innovative products or a greater focus on prevention.

Remaining relevant through the digital transformation trends in insurance and demanding customers is a major challenge for the sector. To ensure a successful future the sector has increased service-based businesses and introduced new propositions - many of which were not available five years ago. Both are examples of generating growth and increasing revenue. When looking at new roadmaps for growth the industry should look to China, which has been identified as the fastest-growing market for insurance.

In chapter two we reveal how the industry is searching for growth through a different road map for growth.

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Contacts

Andrew Warren

Advisory Insurance Sector Leader

+27 11 202 7423

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Ashish Desai

Director, Consulting

+27 11 517 4309

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Dr Tracy Dunbar

Associate Director, Risk Advisory

+27 82 334 8582

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