凯捷-2019年全球保险报告（英文）-2019.5-36页_1mb

报告摘要

World Insurance Report 2019 Summary

Core Content

The World Insurance Report (WIR) 2019 highlights the transformative impact of macro trends on the insurance industry, emphasizing the need for insurers to adapt to the evolving risk landscape. These trends include disruptive environmental patterns, technological advancements, evolving social and demographic trends, new medical and health concerns, and a changing business environment. As a result, emerging risks are increasingly affecting individuals and businesses, creating a demand for new and more comprehensive insurance products.

Main Viewpoints

Emerging Risks are Driving Change: Risks such as climate change, cyber threats, AI-related liabilities, and new infectious diseases are reshaping the insurance sector. These risks have significant implications for both customers and insurers, increasing the frequency and severity of claims in areas like health, property, liability, and business interruption.
Customer Concerns and Coverage Gaps: Customers, both individuals and businesses, feel exposed to emerging risks and perceive a gap in their current insurance coverage. Only a small percentage of insureds believe their policies cover these risks comprehensively, highlighting the need for insurers to better align with customer expectations.
Insurer Response is Lagging: While there is growing demand for new insurance models and products, the majority of insurers are not yet fully aligned with these needs. The product development pipeline is slow to respond, and many firms lack the necessary technology infrastructure to support real-time risk assessment and control.
Opportunities for Innovation: Customers are increasingly open to sharing data and paying extra for personalized risk prevention services. This presents an opportunity for insurers to innovate and develop new models such as usage-based insurance and on-demand insurance, which can offer more sustainable and profitable solutions.
Need for a 3P Approach: Insurers should evolve from being just payers to also acting as partners and preventers in managing risk. This approach can enhance customer engagement, expand value propositions, and drive long-term profitability.

Key Information

Emerging Risks and Their Impact

Risk Type	Impact on Customers	Impact on Insurers
Rising frequency of natural disasters	Adverse risks to health, life, and property for individuals; productivity losses and business interruption for businesses	Increase in property, natural catastrophe, life, health, liability, and business interruption claims
Depletion of natural resources	Impact on life, health, and property due to inflation and civil unrest; increased production costs for businesses	Increased claims in business interruption, liability, life, health, and property areas
Renewable energy risks	Increased energy expenses due to infrastructure costs for individuals and businesses	Complexity of renewable energy infrastructure leads to new and hard-to-assess risks
Micro pollutants and toxic chemicals	Adverse health risks for individuals; increased liability and productivity losses for businesses	Increase in health, life, liability, and product pollution liability claims
Environmental liability	Increased compliance and clean-up costs for businesses; reputational risk exposures	Need for constant monitoring of environmental regulations and policy redefinition

Technological Advancements and Risks

Technology	Impact on Customers	Impact on Insurers
Cyber risks	Rise in cybersecurity spending for businesses; increased frequency and severity of cyberattacks	Increase in cyber claims; need for sophisticated risk assessment tools
Automation	Higher property values; exposure to new risks from device malfunction and hacking	Intensification of costly claims due to complex equipment
Artificial Intelligence (AI)	Risks from smart device malfunction; increased liability due to AI biases	Increase in liability and severe claims from AI system damage
Nanotechnology	Potential health risks for individuals; liability, reputational, and business interruption risks for businesses	Significant unforeseen losses from nanomaterials acting as latent hazards
Drones	Escalation of privacy breach and collision risks for individuals; compliance costs for businesses	Vulnerability to costly claims from privacy violations, property damage, cyberattacks, etc.

Evolving Social and Demographic Trends

Trend	Impact on Customers	Impact on Insurers
Silver tsunami	Risk of outliving savings and long-term healthcare needs for individuals	Increased claims in long-term care and health insurance; need for customized offerings for elderly care
Evolving consumer behaviors	Risks to digital identity and new health concerns for individuals; increased IT spending for businesses	Increased claims due to cyberattacks and cloud risks; potential shift in insurance product offerings
Changing employment patterns	Job uncertainty and difficulty in obtaining coverage for gig workers	Decrease in workers' compensation claims due to technology; need for new products tailored to gig economy workers
Urbanization and mass migration	Growing pressure on infrastructure leading to disease outbreaks and unsanitary dwellings	Amplification of property damage and business interruption claims in coastal areas

New Medical and Health Concerns

Health Concern	Impact on Customers	Impact on Insurers
Rapid rise in healthcare costs	Higher deductible health plans for individuals; increased operating costs for businesses	Higher claims costs due to costlier treatments
Increased drug resistance and chronic diseases	Adverse health risks and increased mortality rates; higher healthcare spending	Rise in health and life claims due to increasing mortality and morbidity rates
Outbreak of new infectious diseases	Adverse health risks and increased mortality; higher healthcare spending for individuals	Increased health and life claims; rise in auto claims due to accidents from lifestyle-induced risks
Lifestyle-induced risks	Health and life risks for individuals and businesses; productivity losses for businesses	Increased health and life claims; increased auto claims due to stress, sleep deprivation, and substance abuse

Changing Business Environment

Factor	Impact on Customers	Impact on Insurers
New business models	Gaps in financial protection due to new risks not covered by traditional insurance	Opportunity for new products and services to address these gaps
Regulatory risks	Increased compliance costs for businesses due to privacy regulations	Need to monitor regulatory changes and update policies accordingly
Debt bubble	Risk of loan defaults and financial crises for individuals and businesses	Potential for increased investment income due to rising interest rates; risk of financial crises
Digital currencies	Increased risk of fraud, theft, and cyberattacks for individuals and businesses	New product opportunities for digital currency theft and fraud; challenges in risk quantification and pricing
Geopolitical risks	Uncertain business environment and economic losses due to political instability and protectionism	Difficulties in accessing global markets; increased property damage and business interruption claims

Key Takeaways

Customer-Centric Innovation: Insurers must shift from traditional models to more customer-centric approaches, leveraging data and technology to offer personalized risk prevention services.
Agility and Speed: The ability to quickly adapt to new risks and customer needs is crucial for success in the evolving insurance market.
3P Strategy: Adopting a Partner, Preventer, Payer model can enhance customer engagement and drive profitability.
Technology Infrastructure: Insurers need to invest in advanced technology to support real-time risk assessment and control, enabling them to respond effectively to emerging risks.
Market Readiness: While there is a clear demand for new insurance models, the industry is not yet fully prepared to meet these needs, presenting both a challenge and an opportunity for innovation.

Conclusion

The WIR 2019 underscores that the insurance industry is at a pivotal moment, where macro trends are redefining risk and customer expectations. Insurers must act proactively to close the coverage gap, develop new products, and enhance their technological capabilities. By embracing a 3P approach and fostering a culture of agility and innovation, insurers can position themselves for long-term success in a rapidly changing risk landscape.

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