Insights from our financial services network.
Financial Services Briefing
Are legacy systems or legacy mindsets your digital nightmare?
In a slowing global economy, how can ASEAN’s financial institutions drive growth?
Will ASEAN continue to be a bright spot for FS investments in 2019
If data is the fuel for analytics, how can incumbent insurers ignite their business?
What should insurers do today to prepare for tomorrow?
Insurance Accounting Alert – November 2018
EY FinTech Hub
Digital. Human. Do we have to choose?
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.
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Financial institutions need business strategies that thrive in a fully digital world – they don’t need to “go digital”, they need to be digital.
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