An annual report
Top Insurance Industry Issues in 2012 describes the challenges insurers are facing and the strategies they can use to cope with change, manage risk, enhance their operations, and grow. This years report predicts 2012 will be the year of the customer, with many leading insurers focusing on improving the customer experience to differentiate themselves from competitors and expand their global market share.
Challenges explored in this years report include:
- The low interest rate environment
- Risk and capital management, including global solvency modernisation initiatives
- Market reporting
- Expansion, including Mergers & Acquisition
- "Big data" and smart analytics
- Customer oriented operating models
- Policy administration systems replacement
- Regulatory compliance, including Dodd-Frank and unclaimed property
- Tax compliance, including SSAP 101 and FATCA.