What do insurance executives expect from the market in 2015?

Amid a changing landscape for insurers, carrier executives demonstrate an awareness of what’s to come from changing consumer demands and the progression of technology. But they seem content to slowly evolve to meet these challenges, rather than making drastic and immediate changes to their businesses.  

KPMG revealed the results of its 2014 Insurance Industry Outlook Survey this week, explaining that insurers seem to prefer “evolution” over “revolution.” Laura J. Hay, national sector leader, insurance, however, says in the current environment, “evolution” is just too slow. “We firmly believe that those companies that defy the collective opinion of the industry will give themselves a clear competitive advantage. It all comes down to the pace of change.”