Insurance 2020: Forcing the pace

Revitalising the life insurance sector starts with creating new opportunities with underserved markets, particularly young people and lower income consumers, according to PwC’s latest insurance report – Forcing the pace: The fast way to becoming a digital front-runner.

In this report, PwC surveyed more than 9000 consumers from both developed and developing insurance markets. This report also highlights low- income policyholders, tech-savvy millennials and Generation X-ers increasingly using the internet and social media to compare and buy products, with direct-to-consumer life policies expected to be a key growth area.

  • The first section looks at how digital is reshaping the competitive landscape for life and pension businesses.
  • The second section looks at why keeping pace with accelerating change is proving so difficult and the risks this creates.
  • The third section looks at how to develop the adaptable mind set and the faster decision-making and operational flexibility need to move out in front of the market