Industry Perspectives
The Rise of a New Insurance Era
How will insurers adapt to a new era of change, and drive growth and transformation in 2021?
February 2021
2021 will be a defining year for the insurance industry. The challenges that unfolded during the COVID-19 pandemic unlocked new opportunities and new ways of working for our clients and partners. Through this series, we talk to industry leaders about the adoption of new operating models, asset classes, the power of partners, and the role of digitization to reset and renew the growth trajectory for the years ahead.
From Transition to Transformation
While transitions were underway in the insurance industry due to the shift in the regulatory landscape, market events and growth priorities, the pandemic pushed insurers to transform themselves in a more agile fashion, where operational efficiency mattered the most. What are the other areas of focus for insurers to optimize cost and return?
Resetting Growth and Reviving the Economy
With a new reality and normal in place, insurers had to change their trajectory during the pandemic and were quick to take measures to refresh their growth and revive the economy. In this industry dialogue, Generali Holdings’ Chief Executive Officer Dominique Clair and our Head of EMEA Region Jörg Ambrosius discuss how insurers took bold steps to redefine their business priorities and the future of the industry.
All Roads Lead to Alternatives
The continued low yield environment presented a challenge to insurers during the pandemic - a challenge that was quickly turned into an opportunity to diversify into new asset classes. While many long-term goals had to be re-prioritized, environmental, social and governance continued to be a top priority for our clients. Find out how Steffen Fuchs, investment strategy at VPV, the German life, health and corporate insurer addressed these challenges for their domestic clients in this second industry dialogue in our series.
Evolving Role of Outsourcing Partners
While the sudden pivot to remote working took organizations by surprise last year, the ability of outsourcing partners to adapt and meet their client’s needs in a new operating model was a positive development amid the disruption. Michael Leinwand, chief investment Officer at Zurich, talked to us about their approach towards outsourcing and its ability to support new asset classes while mitigating risk.
The Next Generation of Investment Operations
As the world stirs in a new dawn, resilience continues to be the key focus for businesses. Insurers are reimagining investment operations with emphasis on technological advancements, data management and scalability to stay future-ready. At our recent virtual roundtable, leaders from Brighthouse Financial, Lincoln Financial, American Equity, Transamerica, Apollo Insurance Solutions and Chubb Asset Management elaborated on how they are defining and delivering the next generation of investment operations.
Are You Ready for Growth?
Use our Growth Readiness Benchmarking tool to see how your strategies and capabilities compare to those of your industry peers.
Based on results of the State Street 2020 Growth Readiness Study, which captured insights from more than 600 asset managers, asset owners and insurers.
