In a year of ongoing change caused by geopolitical tensions and uncertain economic challenges, CEOs continue to face an evolving landscape. With swirling changes across the industry, we surveyed 134 insurance CEOs as part of the KPMG 2022 CEO Outlook, to gather their insights and perspectives on how to remain relevant and ahead of the competition by navigating through key topics impacting the insurance industry over the next 3 years.
Percent of insurance CEOs believe a recession is likely in the next 12 months
Indicated confidence for growth prospects in the industry versus their own organization
Have a strategy in place to drive digital transformation to remain relevant and competitive
Are seeing increased demand from stakeholders for reporting and transparency on ESG issues
Believe that their organization is under extra pressure to increase reporting of global tax contributions
Believe they have a responsibility to drive greater social mobility
(Source: KPMG 2022 CEO Outlook, KPMG International, October 2022)
Insurers are mostly well aligned with regulatory sustainability reporting, however there are also increasing needs to provide ESG related information to customers and other shareholders. Insurers are also focusing on how to estimate and eventually adapt to ESG's impact to their business.
Audit & Assurance Partner
Starting, or continuing to drive technology enabled business transformation to achieve more efficient and resilient operations for the future customer needs will be high on many insurers’ agenda.
Insurance Industry Lead
For more information about this survey's findings and what it could mean for your organization, connect with us.