— October 23, 2023—
Published in Newsroom / New Releases
on LIMRA.com
LIMRA and BCG release latest biennial insurance executive survey results showing shift in priorities
A new study reveals profitable growth is the most important challenge on the minds of C-suite executives in the life insurance industry, followed closely by talent management.
When the same study was conducted in 2019, change management was what kept executives up at night. By 2021, as companies were forced to meet customers’ changing needs, executives’ focus shifted to technology.
A third of executives (33%) said profitable growth was their company’s greatest internal challenge, which has been in the top three for the past three studies. Technology is also an important challenge and less than a third of executives (27%) consider their companies well equipped to meet that challenge. Executives surveyed said digital automation and data science and analytics were the top technologies needed to ensure their companies’ success over the next five years.
The study, conducted by LIMRA and Boston Consulting Group (BCG), surveyed C-suite life insurance executives to identify their greatest challenges and the biggest external forces affecting their business and their priorities for the future. For more details, see the full report: What’s on the Minds of Life Insurance Executives 2023: Six Big Opportunities in an Evolving Market.
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limra.com
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