Business environment
- Strong competitiveness in the area of insurance tariffs and consequent insurers’ margin deterioration
- New competition in the form of P2P insurers and technological companies offering insurance products
- Cases of nonstandard sales practice that may damage the reputation of insurance sector
- Segmentation of insurance products and utilization of modern methods for pricing existing products

Influence of regulators
- Distribution methods – can be impacted by legislative changes and by commissions of the intermediaries
- Legal structure – increasing regulatory requirements may enhance further centralization and expansion of networks of foreign insurers across European market
- Tax and capital optimization
- Executive management and risk management of insurance businesses – application of Solvency II principles implies changes in the management of insurance companies
- IFRS 17 (reporting, compliance)

Economic environment
- Low interest rate environment and consequent low investment returns on assets, and losses from guaranteed products

Political influence
- Investment strategies – impact on investment structuring
- Risk management

Demographical changes
- Responding to population ageing and changes in family structure

Behavioral and social changes
- Ways of distribution – digitalization of society leads to changes in how customers are approached
- Products – increasing pressure on product offers, systems and technologies to be more simple and transparent

Technological changes
- Ways of distribution – increasing importance of purchases of mobile devices requires technological changes within insurance industry
- Systems and technologies – cloud computing and response to increasing cyber risk exposure
