Top-10 Technology Trends in Life Insurance: 2019
0.5%
(0.9)PP
Real growth rate of global life insurance premiums in 20171
Profitability under pressure
Life insurance ownership is in a decline
Fast-evolving customer preferences
Percentage points (PP) decline in real premium growth rate in 2017 as compared with 20161
Market remains stagnant Challenges beckon! Opportunities await?
TECHNOLOGICALADVANCEMENTS
NEW MARKETENTRANTS
Life insurers face a myriad of challenges and opportunities
Life insurance is gearing up for a future defined by digitally-integrated ecosystem models
PRODUCT/SERVIC
E
INNOVATIO
N
Dynamic and flexible product offerings
Customer life event-based products
Proactive risk control services
Enhancing channel partner experience
Exploring accelerator programs
Implementing accelerated underwriting processes
Integrating with ecosystem partners
Expanding into new distribution channels
Delivering services in real time
Improving user journeys
Life insurers must remain laser focused to combat market forces by:
1. Sigma No 3/2018, Swiss Re Institute
Transitioning into Open Insurers
Emphasizing Data-Driven Compliance
Developing Intelligent
Insurer competencies
Having a Deep Customer
focus
For success within ever-evolving market dynamics, life insurers
must build robust operating models by:
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