LONDON, Jan 15 (Bernama-GLOBE NEWSWIRE) -- The insurance industry is in a state of flux. For one, it’s adapting to a new era of risk, in which a cyber attack could be as economically damaging as a hurricane. On top of this, the modern tools of big data, mobile phones and advanced analytics are ushering in a new generation of products that can be tailored to each individual customer. Meanwhile, the usual pressures relating to digital developments are exacerbating the ‘commoditisation’ of insurance, which has been brought on by internet comparison sites and the like.
Against this backdrop, World Finance has published its yearly line-up of the best companies in global insurance, recognising those that continue to grow and expand, even in spite of an ever-changing landscape and modern-day risks.
It is telling that, according to a survey by PwC, the insurance industry ranks higher than any other in terms of the percentage of CEOs that are: “extremely concerned about the threats to their growth prospects from the speed of technological change, changing customer behaviour, and competition from new market entrants.”
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