Insurance

Top Insurance Industry Issues in 2014



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Implementing fast, flexible policy administration systems



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Global CEO Survey insurance report



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The case FOAR insurance modernization



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A changing business model

There are transformational changes on the horizon that are putting existing insurance business models at risk. The insurers that adapt will focus keenly on the customer, build their analytical capability, and have a superior capacity for innovation and reinvention. They’ll also be able to anticipate – not just react to – change, and be nimble enough to quickly capitalize on emerging opportunities.

Businesses that fail to respond could find themselves priced out of the market, falling short of customer expectations, and under threat from aggressive new entrants.

PwC is here to help

As the leading provider of professional services to insurance companies (including 38 of the 40 insurers in the Fortune 500), PwC has extensive knowledge of the issues, trends and challenges that insurers face, including:

Management and directors: Differing expectations?

PwC recently asked insurance executives and company directors about the impact of changes to insurance contracts accounting, reserving, and ERM.

Both groups agree that finance, actuarial, risk, and systems/operations will bear the brunt of these changes. However, executives and directors have very different ideas of the resulting cost of upgrading systems and operations. Only one in six directors – as opposed to almost half of executives – think that upgrades will cost more than $50 mil.

Are your organization’s decision-makers on the same page?

Learn more about these changes

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Contacts
Bob Sands
US Insurance Leader
Tel: +1 (267) 330 4480
David Schenck
US Insurance Tax Leader
Tel: +1 (202) 549 9412
Paul McDonnell
US Insurance Advisory Co-Leader
+1 (646) 471 2072
Jamie Yoder
US Insurance Advisory Co-Leader
Tel: +1 (312) 298 3462