First, the growing impact of fraud and other risk-related losses will drive new insurance products and innovative delivery mechanisms to address unmet customer needs, including telematics and security.
Second, the emphasis of the industry on managing distribution and sales is shifting to aligning sales efforts to relevant customer need as opposed to promoting traditional distribution of products to large numbers of insured people.
Third, the ability of insurers to influence regulatory changes through collaboration with regulators and industry partners is crucial.
Fourth, traditional insurance products are changing rapidly with innovation and new delivery mechanisms. Products are rapidly adopting to address changes in lifestyle, property and liability, healthcare and other areas.
Fifth, customers are becoming increasingly sophisticated in selecting a competitive insurance product or service. The desire to share data and engage a personal brand will drive insurance products and