Close regulatory scrutiny, disruptive technology and growing pressure from investors are forcing insurers to rethink their priorities into 2024. In a time of turbulence, stakeholders want insurers to deliver more value through stronger protections, holistic solutions and personalized experiences. Trust can help insurers take advantage of generative AI to reduce protection and savings gaps and satisfy new customer demand. The benefits of increased trust include more loyal customers, increased profitability, and productive relationships with partners and regulators.

As outlined in the 2024 EY Global Insurance Outlook, trust and transparency have never been more important to the industry’s present performance and future prospects. That’s true because of widespread macroeconomic uncertainty, technological disruption and proliferating risks. Based on our extensive market research and engagement with many of the leading carriers around the world, we believe that increasing trust and transparency can help insurers navigate these and other critical…