14.04.2014 10:44 amBravura Solutions
While the life insurance industry continues to experience growth, there is an inherent fragility in a sector being weighed down by its legacy business. A complex web of antiquated technology systems bows each time a new product is brought to market or a regulatory change needs to be accommodated.
We are, however, standing at the precipice of a technological revolution in this space.
Players are taking steps to modernise, consolidate and rationalise IT systems, and there is rising popularity of alternative distribution channels, opening up new ways to engage with consumers.
In the face of an aging population and a burgeoning wave of demand for innovative and targeted products, there are a host of opportunities for those that take the vital steps towards modernisation.
In this paper we have identifed ten major industry trends around operations, technology, product development, consumer behaviour and overall innovation, and asses their impact and the role each plays in the future of the life insurance sector.
- See more at: http://www.financialit.net/white-paper/life-insurance-snapshot--10-industry-trends-shaping-the-landscape/94#sthash.SjVdqjhn.dpuf
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