The insurance industry, like many, is rapidly evolving and innovating in response to persistent growth challenges and key global megatrends like low interest rates, technology innovation customer and distributor expectations and demographics. The challenges and changes facing insurers, while difficult, are also opportunities for transformative change. Agile companies with a strategic focus can emerge as industry leaders, stronger than ever.
The financial management community at insurers (broadly including finance, risk, actuarial and investments) are facing increased pressure to successfully navigate change and drive growth while lowering costs. The need for these teams to work closely together has never been greater.
This paper outlines how actuarial leaders can set a bold vision and help drive transformational change to thrive in a period of unprecedented challenges and opportunities for the industry.