Facing the Future: Blueprint for Growth
89% of insurers say improving the assessment and pricing of risk is a challenge.Play video
78% of insurers are considering
re-pricing new business.
Nearly one-third of insurers in APAC think that the growth of mobile and Web distribution channels represents the single greatest opportunity for them, second only to demographic trends in the region. However, seizing these opportunities will not be easy: 77 percent see some degree of challenge in adapting their distribution strategies to changing demographics.
Finding New Sources of Value
82% of insurers report that allocating capital to the most business-critical priorities is a challenge for their firm.Play video
50% of insurers are considering divesting non-core business.
Insurance companies in North America cite their most urgent challenges as product innovation and improving the assessment and pricing of risks.
In the face of these challenges, North American insurers recognize the need for change and are actively repositioning their investment portfolios for a new environment. Growth opportunities in this region include improving the cost effectiveness of strategies within their investment portfolio, enhancing data and analytics capabilities, and exploring the viability of outsourcing.
44% of insurers say that bringing innovative products to market quickly is a major challenge.Play video
67% of insurers are considering product redesigns.
Contact us to learn more about how State Street can help your insurance company create a blueprint for growth.
Optimizing Business Strategy
75% of insurers struggle with how to use their data effectively.Play video
62% of insurers are considering large-scale investments in IT.
Insurers in Europe are confronting a host of regulatory issues dominated by Solvency II. While 91 percent describe Solvency II as a challenge, insurers in the region are divided in terms of how to approach these new requirements. Nearly half of respondents (49 percent) judge their firms to be taking a very proactive approach to Solvency II requirements, while the rest are delaying efforts until uncertainty around key aspects of the regulation is resolved.
Regulation and Compliance
91% of insurers report that preparing for Solvency II is a concern for their company.Play video
32% of insurers say adapting to evolving insurance regulation is a major challenge.
Princeton Financial Systems®
Princeton Financial Systems® offers insurance companies a platform that can help reduce operational complexity, integrate data and perform multi-jurisdictional reporting. Learn more about how Princeton Financial Systems can help your insurance company.