Insurance

Facing the Future: Blueprint for Growth

Insurance companies have a once-in-a-generation opportunity to gain a competitive edge. The challenge is to navigate a complex set of decisions with urgency.

Managing Risk

89% of insurers say improving the assessment and pricing of risk is a challenge.

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78%

78% of insurers are considering
re-pricing new business.

Regional Snapshots
Asia Pacific

Nearly one-third of insurers in APAC think that the growth of mobile and Web distribution channels represents the single greatest opportunity for them, second only to demographic trends in the region. However, seizing these opportunities will not be easy: 77 percent see some degree of challenge in adapting their distribution strategies to changing demographics.

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Finding New Sources of Value

82% of insurers report that allocating capital to the most business-critical priorities is a challenge for their firm.

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50%

50% of insurers are considering divesting non-core business.

Regional Snapshots
North America

Insurance companies in North America cite their most urgent challenges as product innovation and improving the assessment and pricing of risks.

In the face of these challenges, North American insurers recognize the need for change and are actively repositioning their investment portfolios for a new environment. Growth opportunities in this region include improving the cost effectiveness of strategies within their investment portfolio, enhancing data and analytics capabilities, and exploring the viability of outsourcing.

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Driving Innovation

44% of insurers say that bringing innovative products to market quickly is a major challenge.

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67%

67% of insurers are considering product redesigns.

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Contact us to learn more about how State Street can help your insurance company create a blueprint for growth.

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Optimizing Business Strategy

75% of insurers struggle with how to use their data effectively.

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62%

62% of insurers are considering large-scale investments in IT.

Regional Snapshots
Europe/Middle East/Africa

Insurers in Europe are confronting a host of regulatory issues dominated by Solvency II. While 91 percent describe Solvency II as a challenge, insurers in the region are divided in terms of how to approach these new requirements. Nearly half of respondents (49 percent) judge their firms to be taking a very proactive approach to Solvency II requirements, while the rest are delaying efforts until uncertainty around key aspects of the regulation is resolved.

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Regulation and Compliance

91% of insurers report that preparing for Solvency II is a concern for their company.

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32%

32% of insurers say adapting to evolving insurance regulation is a major challenge.

Princeton Financial Systems®

Princeton Financial Systems® offers insurance companies a platform that can help reduce operational complexity, integrate data and perform multi-jurisdictional reporting. Learn more about how Princeton Financial Systems can help your insurance company.

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