2023年全球保险行业首席执行官CEO展望报告

KPMG 2023 Insurance CEO Outlook

The Economic Outlook

In an unpredictable operating environment marked by geopolitical tensions, high inflation, and rising costs, insurance CEOs continue to face significant challenges and opportunities. According to the KPMG CEO Outlook survey, 128 insurance CEOs were surveyed to gain insights into their views and perspectives on the industry and broader economic landscape.

• Overall Confidence: While the majority of insurance CEOs remain confident about growth in the coming years, their confidence has decreased compared to 2022. Specifically:

  • 75% of CEOs are confident about the growth prospects for the insurance industry, down from 90%.
  • 78% are confident about the growth of their own organization, down from 87%.

• Top Risks: Political uncertainty due to ongoing regional tensions is the top threat to organizational growth over the next three years, followed by emerging/disruptive technology risks and interest rate risks. These shifts reflect a move away from operational and technology risks seen in 2022.

• Economic Concerns: 76% of CEOs believe that rising interest rates and tightening economic monetary policies could prolong any potential recession. Cyber crime and the cost of living are also major concerns.

Leveraging Technology and AI

Insurance CEOs recognize the importance of leveraging technology and AI to navigate the changing landscape:

• Technology Investment: Two-thirds (65%) of CEOs have already adapted their growth strategies, with a notable increase in capital investment in buying new technology (60%, up from 54% in 2022).

• Operational Priorities: Advancing the digitization and connectivity of functional areas is the top focus for promoting growth (25%), followed by improving the customer experience (19%) and the employee value proposition (18%).

Enhancing the Impact of ESG

There is a growing emphasis on enhancing the impact of Environmental, Social, and Governance (ESG) initiatives:

• ESG Focus: Insurance organizations are increasingly focusing on sustainability and responsible practices to align with broader societal goals.

Insurance CEO Priorities

Key priorities for insurance CEOs include:

• M&A Activity: Despite declining M&A activity in many regions, a high M&A appetite remains prevalent (55%), with only a small decrease from 2022 (59%). A moderate M&A appetite is also common (32%).

• Strategic Adjustments: CEOs are making strategic adjustments to adapt to the current environment, with a focus on modernizing operations through technology investments.

The Workforce Proposition

Addressing the evolving needs of the workforce is crucial:

• Employee Value Proposition: Improving the employee value proposition is becoming a priority as companies seek to retain talent and enhance productivity.

Summary

The KPMG 2023 Insurance CEO Outlook highlights the ongoing challenges and opportunities faced by the insurance industry. Key themes include maintaining confidence in growth despite economic uncertainties, prioritizing technology and AI investments, emphasizing ESG initiatives, and adapting to the evolving workforce needs. Strategic adjustments and M&A activities remain critical for navigating the rapidly changing landscape.