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How the region's carriers are responding to the new imperative to innovate

Europe's insurance companies stand on the edge of a new age of disruption in 2017. Low interest rates, ongoing economic headwinds and changing customer demands are forcing a sector that has a reputation for conservatism to bring innovation to the heart of their strategies. With seven of Europe's ten largest carriers appointing new CEOs in the last 18 months, the pace of change appears to be accelerating. Against this backdrop, PAC has undertaken a major new survey of 200 senior business and IT stakeholders that explores the strategies and approaches that both life and non-life carriers are taking to driving innovation.

The study explores:

  • Do European insurers perceive themselves to be innovative?
  • Who is responsible for leading innovation in the business?
  • What practical steps are carriers taking to harness innovation from both internal and external sources?
  • What are the main barriers that insurers see to driving innovation?

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In our trend analyses in multi-client mode we analyze the status quo and potential of current market and technology trends on behalf of multiple market players. Our analyses are based on phone interviews among decision makers in ICT buyer companies. The central analysis results are made available free of charge to ICT buyer companies.

 

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