The rapid pace of change in today's insurance industry means there are many lingering questions for business leaders. Oliver Wyman's Insurance Insights examines major industry themes, enabling businesses to turn challenges into tomorrow's opportunities.
Executive Conversations with Jonathan Larsen, Chief Innovation Officer, Ping An Group and CEO, Ping An Voyager Fund Jonathan Larsen, shares insights into his dual role at Ping An, the digital investments and the future growth opportunities for the Chinese insurer.
The next big wave of innovation in financial services will be driven by existing firms taking a greenfield approach. Surveys show that customers are rarely inspired by the service and yet the consensus is that a digital overhaul of legacy systems will be the work of many years. In the 2019 edition of our report we examine the potential for the industry to start again and point to the first steps in the journey – “go build!”
With the rise of InsurTechs and cost-effective, flexible digital technology tools and platforms, the insurance industry is embracing a new era of growth and innovation. Insurers have an important opportunity to gain first-mover advantage by launching greenfield business units and new digital solutions to the core offering.
UK personal general insurance is a paradoxical market. Insurers are learning how to survive in the fast-moving, price-transparent world of distribution via price-comparison websites. What will the future of personal insurance in the UK look like in 5 – 10 years’ time and will there still be a demand for today’s insurance products?
Recent years have seen a rise in InsurTech investments across the world and France is no exception. With 131 InsurTechs identified in 2018, the French market has become one of the most dynamic in Europe.
Global commercial insurance prices rose by two percent in the fourth quarter of 2018, marking a fifth consecutive quarter of increase.