Insurance

Industry Overview

Insurance

Embracing Future Risks While Navigating Volatility and Optimizing Capital

Forward-thinking insurance companies propel our economy by protecting businesses, communities and governments, and in a world of rapidly evolving risks, insurers need to be agile and adaptable to remain relevant to their customers. To stay competitive, insurers increasingly need to embrace technology, data and analytics to improve efficiency and deliver value—while remaining attractive as employers to entice the best talent.

To navigate volatility, ranging from climate change to economic headwinds, insurers need to delve deep into understanding and mitigating risks by enhancing their view of risk. Data, tools and analytics must complement and shape risk transfer to help protect and grow their businesses.

This is where capital can provide a bridge between innovation and investment. Finding the right balance to optimize capital requires strategic decision-making to support growth and enhance both sides of the balance sheet. To meet these societal demands while delivering profitability, this requires more efficient, flexible and resilient enterprise structures to drive strong financial health.

Now more than ever, insurers require more holistic services and global insight to better understand and address their strategic, multi-faceted business needs across growth, capital, operational efficiency and talent. Aon supports insurance industry clients with more relevant and impactful insight and solutions to meet their strategic goals and make better business decisions.

Top 5 Future Risks

Looking ahead to 2024, predicted risks for the insurance industry include:

  • 01

    Cyber Attacks / Data Breach

    Cyber attacks are, and will remain, a top risk across all geographies and industry sectors. All leaders need a cyber game plan.

  • 02

    Economic Slowdown / Slow Recovery

    Despite a fast economic rebound from the initial depths of the pandemic, uncertainty, fueled by inflation, rising interest rates and bank closures, still reigns.

  • 03

    Failure to Innovate / Meet Customer Needs

    Fueled by the rapid digitalization of daily life, no industry is immune to changing consumer behaviors and expectations.

  • 04

    Data Privacy (including GPDR) Requirements / Non-Compliance

    While financial sector regulations have eased in some areas, climate, digital asset, ESG, and privacy-related rules are generally growing tougher.

  • 05

    Business Interruption

    Previously, clients planned for isolated events. We now know business interruption can be systemic across an entire organization.

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Transformative Trends

Creating New Markets

From carbon capture to intellectual property to social mobility, ten transformative trends are shaping the future risk landscape. Our research indicates reinsurers can capitalize on $200+ billion of market potential by 2030.

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Cyber Labs

Stay in the loop on today's most pressing cyber security matters.

Employee Wellbeing

Our Employee Wellbeing collection gives you access to the latest insights from Aon's human capital team. You can also reach out to the team at any time for assistance with your employee wellbeing needs.

Environmental, Social and Governance Insights

Explore Aon's latest environmental social and governance (ESG) insights.

Q3 2023 Global Insurance Market Insights

Our Global Insurance Market Insights highlight insurance market trends across pricing, capacity, underwriting, limits, deductibles and coverages.

Regional Results

How do the top risks on business leaders’ minds differ by region and how can these risks be mitigated? Explore the regional results to learn more.

Insights for HR

Explore our hand-picked insights for human resources professionals.

Cyber Labs

Stay in the loop on today's most pressing cyber security matters.

Navigating Volatility

How do businesses navigate their way through new forms of volatility and make decisions that protect and grow their organizations?

Top 10 Global Risks

Trade, technology, weather and workforce stability are the central forces in today’s risk landscape.

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