The State of the Claims Market
There’s also a great deal of regulatory
change that must be accommodated.
But with challenges, there are also
There’s plenty of growth potential for
nimble insurers willing to experiment with
emerging markets. Capital and surplus
levels are high, interest rates are low and
Big Data analytics are beginning to yield
Insurers will find the most success through
service and product innovation, greater
As the economy slowly recovers, insurers
face shifting consumer expectations in
an increasingly digital, connected world.
The pressure to cut costs remains, but
with it is also a driving need to modernize
operations and harness technological
advances to create new product lines and
attract new business.
Set against a backdrop of relentless
competition — digital disruption always
lowers the barriers to entry for new players
in the marketplace — there’s plenty of
work to be done in the months ahead.
operational efficiency and the agility and
insight to pivot and fully exploit existing
and emerging opportunities.
of digital trends
Technology is relentless
in its advancement. The
Internet of Things (Io T)
is expanding into our
homes, cars, businesses
and even our bodies, bringing both
Change is the only constant in life — and the claims marketplace is no different. From top to bottom, this industry is going through a significant transformation. It takes true visionaries to see the way through this chaotic time and to seize upon the opportunities therein — but fortunately,
it’s something well within reach of motivated, forward-looking professionals.