A recent global CEO Survey by PWC Indicates that Insurance CEO’s are optimistic rather than anxious about technological change Sweeping through the Industry. Globally, leading Insurance Companies are embracing the future and capitalising on technological advancement and innovation much faster than other Industries.
Concerns about technological change and other digital disruptive elements have eased amongst Insurance companies and Sentiment shows that Insurers are ready to embrace the new wave of change.
According to the PWC’s Survey results, the three aspects Insurance CEO’s are most concerned about are:
- The Speed of technological change (31% which is down from 51% in 2018)
- Changing Consumer behaviour (21% which is down from 31% in 2018)
- New market entrants (10% which is down from 22% in 2018)