The insurance sector is struggling due to the need to improve their technology systems, operating models, talent capabilities, and office policies. However, regulatory changes will lead to substantial investments. Life, health and retirement insurance providers are expected to develop cost-effective targeting of underserved low- and middle-income segments. Annuity providers will simplify and rebrand retirement products, improve sales process, and enhance public perception in investment alternatives. Also look for insurance providers to expand flood coverage to homeowners partially as a result of climate change.
The insurance industry is struggling to maintain profitability in precarious economic conditions and is restructuring products, operations, and business models to appease rising consumer expectations and to integrate with new technologies. Look for spending to turn toward more analytics, artificial intelligence, and other advanced practices to ensure flexibility, customization of products, and improved customer experience. […]
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