LONDON, ENGLAND--(Marketwired - Oct. 11, 2016) - The global insurance industry is currently facing a myriad of new and confronting challenges. Thanks to technological disruption, a weak fiscal environment and growing expectations from customers, insurers have been contending with the weakening of their very foundations. Despite this, some insurers have found new success by embracing non-traditional operating models. This has been the trend among this year's winners of the World Finance Global Insurance Awards.
There is no doubt that digital systems have changed the way that insurers both create and manage their products. With a greater focus on data analytics and the increased use of cloud computing, insurers have been able to improve their performance, while also more effectively meet regulatory requirements. Technology has also affected the process of buying insurance, with customers now having access to more information than even before. As customers demand more flexibility and responsive products, the best insurers are finding creative ways to meet these increased needs.
Another force driving change in the insurance industry is consolidation. Soft conditions in the insurance market are prompting an increase of mergers and acquisitions, as is a growing confidence in the sector's ability to consistently perform well. Consequently, acquisitions have become a tactic many insurers now use to enter into new markets and strengthen their base.
In the new issue of World Finance, we list the insurers who have not just met these new demands, but embraced the opportunities presented by industry disruption. World Finance's panel of experts has found institutions from a range of different regions deserving of recognition in this year's World Finance Global Insurance Awards.
The full list of winners is included in the latest issue of World Finance, available both in print and online now.
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