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  5. Pace Of Change: Critical Drivers Impacting The Transformation Of Insurance

Pace Of Change: Critical Drivers Impacting The Transformation Of Insurance

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1 April 2019
Michael Fitzgerald Niall Williams

Survey results describe an industry that is making progress with speed to market but also recognizes a need to increase its pace with regard to other critical drivers.

Key research questions

  • What does the survey reveal about the pace of change in the industry?
  • What industry driver has the highest priority for insurers?
  • How should insurers proceed?

Abstract

Technology innovation, increasing amounts of data, and rising customer expectations are pressuring the industry to transform rapidly. Other forces — competition for talent, product innovation, and regulatory influence — are also forcing carriers to adapt quickly.

To help insurers navigate these changes, Celent conducted a survey of North American and EMEA property and casualty firms to gauge industry and carrier progress against six elements forcing change in insurance.

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