Despite sluggish growth and inflation in key markets, the outlook for Latin America remains relatively bright, driven in part by low market penetration.
2016 Latin America insurance outlook
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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.
- 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.
- The journey toward greater customer centricity
- Global Consumer Insurance Survey 2012
- Voice of the customer: time for insurers to rethink their relationship (webcast replay)
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