Insurance Agenda - Issue 2, 2016
Latest insights and thought leadership for our insurance clients
Welcome to our latest edition of Insurance Agenda.
In this edition of Insurance Agenda we discuss some of the challenges being faced by Australian insurers: Competition, compliance and cost. Digital is disrupting traditional operating models, regulator focus on conduct and governance continues to grow, and expense control is a key focus in virtually every analyst’s report.
Speaking of challengers: To disrupt or be disrupted? Research findings from 400 insurers around the globe, as well as 1,400 firms from other sectors included in our Sensor Data Survey show that this is the question insurers must address if they are to make the once-futuristic concepts in telematics, wearable tech and real-time risk underwriting into here-and-now operational capabilities.
How will real-time client activity and health data change your insurance business? The impact of sensor technologies are predicted to be extensive, profound and long lasting. Already, top-performing insurers are leveraging wearable technologies to create significant value. Pay as you live (PAYL) wearable trends looks at the latest developments in wearables and how insurers can monetise the data they produce using EY’s PAYL proposition — a platform designed to help health and life insurance customers live healthier, more connected lives.
Also included is this edition is EY’s Global Insurance M&A Themes that finds terms such as the “return of the megadeal” have been used to describe insurance M&A activity in 2015.
I hope that you find the materials included in this edition of Insurance Agenda to be insightful and thought provoking. Please feel free to request a hard copy of any of these publications and, as always, we welcome your feedback and enquiry on any of these topics.
Oceania Insurance Sector Leader & Financial Services Advisory Leader
Tel: +61 2 9248 4491