For Annuity and Life Insurance Industry, a New Formula for Survival and Success
February 23, 2016 by Ernst & Young 2015 Retail Life Insurance & Annuity Executive Survey
In a very challenging market, industry is poised to do well by doing goodThe following is an excerpt from the Ernst & Young 2015 Retail Life Insurance & Annuity Executive Survey, which delineates a clear path for the industry to shake off the effects of a sluggish global economy and incorporate some forward looking strategic and operational challenges.
The Life & Annuity industries continue to face an unprecedented range of strategic and operational challenges.
The results from EY’s 2015 Retail Life Insurance and Annuity Executive Survey show many forces of change — some long-standing and some emerging — that are shaping the strategic agenda for senior leaders and, at some carriers, causing something of an existential crisis.
In many areas, the need for action is clear; there is widespread consensus among survey respondents regarding the need for more innovation, better technology, greater focus on the customer and attracting new talent. Click HERE to read more..