Historically low interest rates are compelling boards and management of insurance companies across industry sectors to take a forward-looking and proactive approach to managing their business operations and risks. Although outright solutions are elusive due to the convergence of economic, financial, and regulatory forces shaping the industry landscape, we offer a number of ideas that, taken collectively or individually, may mitigate the impact of persistently low rates. The approach we offer may be best viewed across four inter-related dimensions, involving risk management imperatives, the organization’s asset-portfolio strategy, its product-portfolio strategy, and its operating model.