It’s a unique moment in the history of insurance. New standards and leading practices are emerging across every aspect of the business. Firms are exploring new horizons of opportunity, and the industry’s decades-long digital transformation journey has entered a distinct new phase. The competitive landscape is also changing profoundly, with nontraditional players and new capital sources making big, long-term bets across the sector. This evolution is happening in the face of persistent uncertainty and turbulence, driven by geopolitical conflicts, trade tensions, macroeconomic instability, and more frequent and severe natural catastrophes.
What hasn’t changed: the need to meet evolving consumer needs, address huge protections and savings gaps, operate efficiently, and keep up with regulatory shifts. Collectively, these forces are fueling innovation in product design, distribution and capital management. They’re also sparking big investments in AI and other disruptive technology, as well as workforce transformation.
