What Should Insurers Do Today To Prepare For Tomorrow?
March 12, 2019 by EY Americas 2019 Insurance Outlook
No or slow growth in revenues. Intense profit pressures. Constant flux from technology advancements and rising customer expectations. That’s what insurers have experienced in the recent past. Without bold action now, they risk seeing more of the same in 2019 and beyond. Non-life sectors have grown — albeit at low rates and mainly in health and automotive.
Meanwhile, the life business is shrinking. Industry efforts to raise awareness regarding the value of life insurance (especially among millennials) have not effectively countered structural reductions in demand. Beyond low growth, margins remain suboptimal for both life and non-life.
Click HERE to view the full article via Advisor Magazine.
Excerpts from the EY Americas 2019 Insurance Outlook, coverinig the major trends, disruptions and innovations that are reshaping the global insurance industry. Visit here.