Life Insurance Snapshot: 10 Industry Trends Shaping The Landscape

Life Insurance Snapshot: 10 Industry Trends Shaping The Landscape

Darren Stevens, Director at Bravura Solutions

14.04.2014 10:44 am

Bravura 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. 

  1. Steady growth
  2. Challenging legacy rationalisation
  3. Business Process Outsourcing (BPO) 
  4. Regulatory and capital pressures
  5. D2C, afliation marketing and big data
  6. Poor fnancial performance
  7. Little true product development
  8. Competition with platforms
  9. Online support and mobility 
  10. Rise of niche players

- See more at:

Other White Papers

CA Telon modernisation options

Over the years, the IT landscape has changed dramatically, and while CA Telon’s efficacy has endured, several increasingly impactful factors have driven users to look for alternatives. Read more »

Path Digital

Banking is changing, faster than ever before. Rapid technology advancements and changing customer demands have set the stage for a pervasive digitalization of our world. Read more »

Path Intelligence

Banks face an increasingly open and competitive environment, with lower switching costs, and more customer choices and empowerment. Read more »

The European Banking Authority (EBA) Registers: Understanding the data and overcoming the issues

With the implementation of the Payment Services Directive 2 (PSD2) Access to Accounts (Open Banking) in September 2019, many Financial Institutions have been working towards compliance with the reg Read more »

Compliance 2030

ClauseMatch has interviewed 10 industry experts on the current state of compliance and what technology's promise for the banking future looks like.  The paper explores and discovers:   Read more »

Open Banking Impact on Customer Acquisition – Research Results from the Open Data Institute

The Open Data Institute researched this report to help banking executives understand the opportunities Open Banking affords to acquire new customers, simplify the new customer onboarding process, i Read more »

New whitepaper from Redgate Software unpicks US legislation for data professionals

The leading Microsoft SQL Server tools vendor, Redgate, has published its latest whitepaper, Data Protection and Compliance During Provisioning, covering the req Read more »

State of Digital Sales in Banking in 2018

Avoka’s third annual report measures the digital account opening capabilities of the 50 largest banks in three regions: North America, Europe, and Australia. Read more »

Continuous Authentication

Today, technology is developing faster than at any time in history, and the way customers interact with banks and financial institutions is rapidly changing. Read more »

Subscribe; The best answer to the eternal buy vs build question

One of the primary reasons that inclines rms toward a self-build approach is that those within the organisation know the business best, and therefore the resulting solution should cater for the exa Read more »


Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel