全球保险业展望2024-英-36页_917kb

Deloitte Global Insurance Outlook 2024

Summary

• Transformative Changes: Insurers are evolving to achieve customer-centricity and elevate purpose amid accelerating climate, technological, workforce, and societal shifts.

• Non-Life Insurance: Faces persistent underwriting losses due to rising expenses and catastrophes. Insurers strengthen relationships and profitability through product innovation, AI-driven insights, and partnerships while navigating rate hardening pressures.

• Life & Annuity (L&A) Insurers: Undertake core system modernization and culture transformation but face ongoing legacy system issues. Enhancing digital capabilities and exploring generative AI are key, alongside expanding sustainable product offerings.

• Group Insurers: Focus on improving employee benefits through digital platforms and partnerships, aiming to increase engagement and value by addressing areas like long-term care and wellness.

• Tech Transformation: Generative AI and other advanced technologies drive customer experience enhancement, operational efficiency, and risk mitigation. Collaboration with InsurTechs and comprehensive data governance are needed to implement these effectively.

• Human Capital: Emphasizes the need for workforce transformation through upskilling, inclusive strategies, and leveraging new tech for enhanced employee experiences and productivity.

• Sustainability, Climate, and Equity (SC&E):

  • Increased stakeholder demands for climate-focused governance and transparent reporting.
  • Opportunities to become sustainability ambassadors influencing decarbonization efforts across industries while navigating legal and regulatory challenges.
  • Working to improve carbon abatement and broaden product offerings to underserved communities.

• Finance: Driving operational innovations through new accounting standards (e.g., IFRS 17/LDTI) to enhance transparency and profitability, alongside managing the complexities of Pillar 2 and tax compliance.

• Mergers & Acquisitions (M&A): Expected to remain cautious but strategic amid economic uncertainty, with potential upticks influenced by recovery trends, consolidation in InsurTech, and shifts in macroeconomics.

Global Insurance Outlook Key Trends (2024)

• Underwriting Challenges: Non-life insurers face hard markets due to elevated loss costs. Life insurance sales are pressured by consumer concerns, though emerging markets show growth in L&A penetration.

• Increasing AI Adoption: AI and advanced analytics enhance customer experiences, personalize services, and drive operational efficiency across various insurance segments.

• Sustainability Imperatives: Growing focus on integrating SC&E principles and decarbonization into corporate strategies, with challenges regarding governance, stakeholder transparency, and the path to climate action.

• Core System & Culture Transformation: Ongoing upgrades face hurdles, but AI and cloud-based solutions offer acceleration potential. Cultural shifts toward customer-centricity and cross-functional collaboration are essential.

• Finance Innovations: Adoption of new accounting standards (IFRS 17, LDTI, US Tax Rules) supports improved financial transparency. Tax jurisdictional complexities including Pillar 2 demand proactive compliance.

Conclusion

The insurance industry is at a pivotal moment to redefine purpose and enhance societal trust through innovative technologies, sustainable practices, and inclusive workforce strategies.