An insurer fit for the future will harness diverging customer needs and technological progress to transform its people, business model and services.
An insurer will harness diverging customer needs and technological progress
The insurance industry is at a turning point. Insurers have adapted well to a rapidly changing regulatory and business landscape and can now set their sights on growth.
Intense regulatory scrutiny and control will promote transparency and financial strength across the industry. At the same time, developments in technology and data analytics are creating great opportunities for insurers to provide their customers with the right services and products at the right time.
A focus on customers remains a priority, products must reflect changing needs and demands. A new generation is entering the marketplace with different perspectives, while existing customers are keen to take advantage of more flexible options.
Mergers and acquisitions means insurers will evolve. This will bring additional challenges, as legacy systems are brought together, updated and integrated to ensure the highest quality of service.
How KPMG can help
With a depth and breadth of industry experience, built upon expertise in audit, tax and advisory work throughout the insurance sector, we can help chart a route to continuing success.
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The Financial Regulations are a positive step forward and could provide a platform for further growth.