• Building a better retirement world

    In the post-crisis era, how can pension providers and policymakers improve the global retirement system by focusing on customers?

  • Insights into cybersecurity and risk (Part 2)

    The second in our two-part series explores cyber liability insurance and how insurers and reinsurers provide warranties and mitigation as part of risk assessments.

  • Financial Services Briefing - Issue 2, 2014

    We highlight insights from our Asset Management, Banking & Capital Markets and Insurance network on the key themes of the market - operational effectiveness, growth, capital, risk and regulation.

  • European Solvency II survey 2014

    With the Solvency II deadline approaching, European insurers are working toward compliance. See which countries are making solid progress.

  • 2014 Global insurance outlook

    As the global insurance industry emerges from a period of economic uncertainty, what lies ahead in 2014? We explore in our latest Global insurance outlook.

  • Building a sustainable financial services industry

    Our latest sustainability report looks at how we have helped create positive change for our clients, people and communities.

  • Operational excellence for insurers

    The emerging consumer presents a growing opportunity for insurers. Our report explores how operational excellence can help convert that opportunity into profitability.

  • The shifting landscape in rapid-growth markets

    A rebalancing is taking place across the insurance industry in rapid-growth markets. Our report highlights future growth opportunities in specific countries around the globe.

  • 2014 Asia-Pacific insurance outlook

    Changes in the insurance industry will present new challenges and opportunities in the Asia-Pacific region. We explore how insurers can achieve profitable growth in 2014.

Global insurance: vast potential

The global insurance market is remarkably strong, despite continued fallout from the financial crisis. Low interest rates coupled with relatively poor investment returns have impeded growth, but demand for insurance products and services remains high.

We keep you prepared by providing insights into the nuances of your market, as well as global trends putting pressure on the industry.

Stay nimble amid risk and regulation

Waves of global legislation continue to pressure management and absorb precious resources. Combined with the need to innovate in a highly competitive environment, this is causing some insurers to withdraw from long-standing core markets and product lines.

However, insurers are adapting by leveraging technology and developing operating models that are compliant with Solvency II. New business architectures will enable insurers to release better products more quickly and cheaply.

Gain market insight

The balance of power is shifting toward the customer, and distribution models are rapidly evolving. Emerging markets in Latin America, Asia, Africa and Eastern Europe are future battlegrounds that offer big prizes – but only if insurers can get it right.

Success will be achieved with patience, long-term investment and genuine understanding of local dynamics.


  • Are you ready for Solvency II?

    At the recent Trilogue meeting, the European Commission proposed a deferral of the implementation date of Solvency II to January 1, 2015, but the proposal did not reach consensus.

    Are you ready?


    Related content

    Man on telephone

    Potential delays for Solvency II timeline

    Insurers will have to continue their balancing act, adopting SII while the issues of timescales and long-term guarantees hang over them.

  • Actuarial and risk management strategies

    Never has it been more critical for companies to understand and stay in tune with the changing climate of their business. Companies want to achieve competitive advantage and adapt quickly to the evolving business environment. Yet, there is a growing gap between the volume and complexity of risks that companies face today and the techniques available to manage them. We can help fill those gaps by providing services that can enhance your company's decision-making.

    We combine global insight and local reach to assist financial services and insurance clients in developing and validating strategies to make sound decisions. The outcome of this collaboration is important to the success of your enterprise.

    Our areas of focus include the following services:

    • Actuarial transformation
    • Actuarial review
    • Actuarial operations
    • Changes to financial reporting methods
    • Performance improvement


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  • Be prepared for IFRS/accounting changes

    We are increasingly living in a global economy — with trade and inbound and outbound investment a fact of life. It's no wonder capital markets have long advocated for globally recognized accounting standards.

    Until recently, that common accounting language has been a missing link. Now, policymakers, lawmakers and regulators are working alongside standard-setters to provide a single set of high-quality, global accounting principles.

    Benefit from our timely insights as your prepare for this transition.

  • Customer agenda

    The buying behaviors, attitudes and preferences of insurance customers worldwide are changing. To understand this transformation, insurers need to determine how they must adapt to attract, deepen and preserve customer relationships.


  • Governance facing the industry today

    We, along with Tapestry Network, established the Insurance Governance Leadership Network (IGLN), a global network centered around non-executive directors from a select group of the largest insurers from Europe, North America and Asia. The IGLN provides a peer-to-peer platform for participants to discuss critical issues facing the industry globally. Its primary focus is the non-executive director, but it also engages senior management (notably chief risk officers) and regulators, all of whom are committed to outstanding governance and supervision in support of the mission to build strong, enduring, and trustworthy insurance institutions.

    Tapestry Briefings – A View from the Boardroom:

     

  • Operations and technology: implementing efficiencies

    In recent years, a new generation of technologies has created a renewed appetite amongst insurers for using IT to manage claims more effectively.

    Yet there are still a large number of challenges to be overcome in delivering the anticipated business benefits. Are you achieving the improved claims performance you need from your IT investments?

    According to our latest research, insurers could get much greater value by changing their approach.

    Our survey "Delivering results through claims technologies" explores the challenges and opportunities of investing in claims technologies in France, Germany, Italy, Spain and the UK.

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  • The emergence of emerging markets

    The global economy is at a turning point. Fast-growth economies in Asia, the Middle East, Africa, Latin America and Eastern Europe now form almost half of global GDP and, in 2010, they contributed 70% to overall global growth.

    These trends are accelerating. By 2050, fast-growth economies are projected to account for 65% of the global economy. In contrast, most developed markets are still struggling to recover after the global recession. For many businesses, their very survival depends on pursuing a growth agenda. This might include expanding into new markets and sectors, finding new ways to innovate or taking new approaches to talent. But there’s one key question that must be answered: how can your insurance business make the most of the many opportunities that exist?

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Contact us

Jong Soo Park
Insurance
Industry Leader
Tel: +82 2 3787 6525

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EY - Investment platforms

Investment platforms:

Will they change buying behaviors in traditional Asian markets? Read a brief overview of wealth platforms trends, innovations and our capabilities and case studies.