未来属于保险公司

In 2023, insurers’ management teams once again grappled withuncertainty across multiple fronts: moderation in rate increases andinflation, geopolitical conflicts and wars across the globe, the wind-downof the effects of the COVID-19 pandemic, continuation of hard propertyand casualty (P&C) market conditions, weak and then stronger equityand deal markets, and the democratization of generativeAI.We believethe future is now— the trends of the last decade are continuingto accelerate, with a convergence of fully customer-centric experiences,risk fluidity against uncertain macro conditions, fully digital operatingmodels and an AI-augmentedworkforce.As leaders face this new world, they need to be sharper than ever onwhere they truly differentiate — proprietary distribution and clientaccess, customer data and insights, product innovation, asset originationand management, risk management — as well as building the rightproprietary capabilities for their operating model (for example, strategicpartnerships, data/analytics, talent andculture).We propose 10 to do’s for CEOs to adopt an offensive stance and winin 2024.© Oliver Wyman 10 TO DO’S FOR INSURANCE CEOsIN 2024PREPARE FOR THESOFT MARKET OPPORTUNITYDevelop cycle resilience to take advantage ofthe right opportunities10X YOURINNOVATION AMBITIONInvest in a portfolio of market-creatinginnovations to address unmet customerneeds at the intersection of industries andredefine successaccordingly2UPGRADE FROM “EXPERIMENT” TO“REINVENT” WITH GENERATIVE AIMove past incremental proofs-of-concept —reinvent value propositions and operatingmodels from the top-down using generativeAI as a catalyst7BREAK THETECH-POVERTY CYCLESecure a long-lasting technology advantageby doubling down on evolved ways-of-working and through targeted partnershipsor acquisitions to complement yourowncapabilitiesTRANSFORM FINANCE AND ACTUARIALINTO AN “INSIGHTS ENGINE”Turn your finance and actuarial function intoan agile, strategic powerhouse that is centralto the C-suite’s most criticaldecisionsTURN COST CENTERSINTO PROFIT CENTERSRun shared services as business servicecenters in order to monetize your operationsand manage demandEVOLVE AS ANASSET MANAGEMENT-LED INSURERSupercharge capabilities to sustaindifferentiation in an increasinglycompetitivemarketDRIVE CLIMATE ADAPTATIONAND RESILIENCEMake the transition happen by backingtrillions of dollars of infrastructureinvestments — a $71 billionopportunity5DOUBLE DOWNON THE “SECRET SAUCE”If you are going against the grain, be clear onwhat is proprietary in your model and do itbetter thanothersBE A TALENT MAGNET FORTHE BIONIC WORKFORCEAs long-term work practices emerge post-pandemic, redefine operating modelsaround technology-augmented workers tomake the industry the best place towork16384910© Oliver Wyman PREPARE FOR THESOFT MARKET OPPORTUNITYDevelop cycle resilience to take advantage of theright opportunitiesThe P&C industry continues to experience its longest hard market periodsince the beginning of the 21st century, driven by both demand- and supply-sidefactors such as rising losses and inflation.While it is unclear how long it willlast,many carriers believe we are now late-cycle and are starting to preparefor a softmarket.While timing is essential, the winners will adopt a cycle-resilient strategythat will allow them to double down on retaining customer and distributionpartner relationships and continue exploring growth avenues — withdiscipline — based on where the long-term value lies. They will also need todevelop a more flexible operating model hinging on many shifts:balancingshort-term financial metrics with customer lifetime value and other long-term/portfolio-level metrics; setting expectations accordingly with shareholders,employees and other stakeholders; expanding offerings across the value chain(including fee-based risk management services offerings) to complement moretraditional, cycle-impacted influence products; and enabling a faster feedbackloop through our “risk fluidity” concept — the ability to rapidly and frequentlyadjust how risk, capital and costs flow across products, channels, businesslines, and geographies.© Oliver Wyman 2UPGRADE FROM “EXPERIMENT” TO“REINVENT” WITH GENERATIVE AIMove past incremental proofs-of-concept — reinvent valuepropositions and operating models from the top-down usinggenerative AI as acatalystIn 2023, most insurers focused on understanding the hype vs. reality ofgenerative AI and experimenting with use cases.While we saw — and activelyencouraged — an increasing focus on value creation and return on investment(ROI) towards year-end, we think this trend needs to accelerate for insurers’initiatives to move theneedle.In 2024, insurance leaders must shift from a solution-centric mindset to a“top-down” transformation mindset — withgenerative AI serving as a catalystfor value proposition and operating model reinvention.The opportunity forefficiency and revenue gains lies in starting from the business and customerprobl