The global insurance market continues to be shaped by multiple disruptive forces – from technology advancement and new competition, to increased regulatory scrutiny and evolving customer behaviours, to diversifying risk exposures. Within the turbulence, however, there are clear indicators of future growth for 2024 and beyond, including strong demand signals, new business models and expanding data access that promises to transform risk assessment and pricing.
In its annual Global Insurance Outlook, ICMIF Supporting Member EY explores the unique and evolving industry landscape and key issues that are driving the strategic agenda in markets around the world to inform the perspectives of senior leaders.
Recognising that trust and transparency have never been more important to the industry’s present performance and future prospects, Isabelle Santenac, EY Global Insurance Leader, discusses the three key themes from the 2024 Outlook, focusing on: the rise of artificial intelligence (AI); opportunities to create societal value; and the need for innovation as changing customer needs and behaviours spark competition across traditional industry lines. Pursuing differentiated, purposeful strategies in each of these areas will help insurers achieve sustainable performance gains and reduce the huge protection and savings gaps.
Speaker:
- Isabelle Santenac, EY Global Insurance Leader
