The insurance industry has shown robust solvency, as well as robust results, even during the recent economic crisis. Though profitability is still in double-digit figures, it has followed a downward trend in recent years, which can be added to low interest rates, another major drain on profits. Is winter coming?
Insurance companies are displaying all their skills to handle the risks glimpsed on the immediate horizon, such as adapting to clients’ increasingly more dynamic needs, and managing new products for new risks such as climate change and cyberterrorism.
These challenges will have to be faced in a disruptive technological and regulatory context. Examples of this include the potential impact of big data, as well as implementation of IFRS 17.
How will the Spanish insurance industry benefit from IFRS 17? Will the Internet of things lead to more-dynamic risk management? What are the potential and risks of using big data? Can insurance companies help solve the pension problem in Spain? Can life insurance and savings help strengthen profitability through more effective investment strategies in the industry? Can a price war in health and auto insurance be sustainable? Will we be able to shift from a mentality structured on types of insurance to one based on profitability per client without demutualization?
Regulators, academics, consultants and senior managers in the insurance industry will have a chance to join the conversation at the 10th Insurance Industry Meeting organized by IESE Business School (CIF) in collaboration with EY to present their opinions and points of view about a scenario that is as uncertain as it is full of opportunities.
Can we help you with this Meeting?
IESE Industry Meetings