Global

Vision for Success 

What are the fundamental characteristics required by insurers to survive and thrive over the next decade or two? Examining the performance of insurance firms making up the FT Global 500 over a 12 year period, and discussions with insurers around the world, provided deep insight into this critical question.
Vision for Success

Firms who continue to be successful, even in a volatile, low yield environment exhibit specific attributes that set them apart from the competition, they are focused, efficient, agile and trusted. Mapped against the insurance business model, and focused on timely issues that insurers face, the attributes are components of a strategy that puts at its heart the belief that a greater customer experience will ultimately lead to profitable business. While one overarching characteristic is no great surprise – a consistent orientation or refocus by these firms around their end customer – these key attributes merit careful contemplation.


Click the attributes, focus, trust, agility, efficiency and customers in the diagram below to learn more about them.

KPMG
Vision for Success - Trust Vision for Success - Agility Vision for Success - Efficiency Vision for Success - Customer Vision for Success - Focus

Low interest rates and equity market volatility posing the greatest threat to insurers profitability over the next 10 years


To prepare for the road ahead, KPMG has developed the paradigm, The Valued Insurer to help explore what insurers need to do to position themselves for profitable future growth, including


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33% of insurers
of insurers do not feel
their firm's mission
statement clearly
articulates how it
addresses customers
needs

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