The growth imperative:
Top strategies for the next 12 months
1
Launching new products
2
Enhancing digital client experience
3
Improving client retention rates
4
Acquiring new clients
5
Making operational efficiencies
New risks create new challenges
78%
say the COVID-19 crisis highlighted an urgent need to upgrade solvency and risk-modelling capabilities
To confront these challenges and future-proof your growth models, you must take three actions:
Fast-track digital payments
The pandemic has triggered a rapid shift to online purchasing, even for more complex insurance products.
Insurers are accelerating efforts to put a digital payments infrastructure in place. Those that succeed will be more competitive by:
Improving the client experience
Reducing fraud
Cutting costs
What are the leading drivers for your
investments in payments technologies?
Modernize risk modelling
COVID-19 has triggered new risks for insurers to assess and mitigate – from uncertainties around claims and pay-outs to the impact of volatile financial markets on their capital requirements.
56%
say that insufficient computing power was a major barrier during the pandemic to enhancing solvency and risk modeling
62%
are now investing in risk management upgrades to manage pandemic-driven risk challenges
Embrace the cloud
Insurers need to focus on competing in the new growth environment and responding to new risks.
To free up their teams and become more agile, the vast majority are increasing their reliance on cloud-based managed services. But the cloud isn’t one size fits all. Where are insurers deepening their reliance on the cloud?
83%
Risk management
80%
Customer management systems
80%
Digital payments
72%
Compliance management
