Growth, Relevance, Resilience, and Insurers
Presented by Oliver Wyman
We are optimistic as we look forward to 2025. There is an urgency and momentum to change across the industry that has been building over several years, and we are excited to see it take shape. We are anticipating a wave of bolder organic and inorganic moves focused on driving growth, regaining relevance, and building resilience.
Life insurers are increasingly mobilizing around the asset management-led insurer model, asset managers are responding to the public-to-private markets shift, and property and casualty (P&C) carriers are reorienting for growth in a moderating interest rate environment. Macroeconomic pressures, geopolitical tensions, and demographic shifts are further accelerating the need for reinvention. Meanwhile, more attention is being paid to developing solutions that address large unmet customer needs.
In this third edition of our annual provocation to C-suite executives, we propose 10 actions to keep up the pace and drive reinvention in the insurance industry. While these are relevant to insurance leaders across the globe, we appreciate that nuances and variance exist across regions as well as industry sub-segments, leading to different implications and degrees of applicability.