Insurance Banana Skins is a biennial survey that examines risks facing the industry and includes insights from over 660 insurers, regulators and close observers of the industry across 54 countries. This year’s survey features 47 Canadian responses.
Canada shared the world’s top concerns about the damaging impact of regulation on the insurance industry. There was also strong concern about the macro-economic environment, even though Canada is doing better than many countries.
In addition, new risk entrants such as innovation and social media were ranked higher for Canada than the world. This difference in rankings could signal that Canada is seeing these risks as more than short-term issues and that they’re on the rise.
About the Insurance Banana Skins survey
This survey has been produced with the Centre for the Study of Financial Innovation (CSFI) in association with PwC. It is aimed at senior executives in the insurance industry and identifies the risks currently facing the global insurance industry.