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Insurers are evolving and the major changes have only just begun, claims James Lawrie, executive director at Apsley Specialty.
The past decade has born witness to change within the insurance industry at an unprecedented rate. Increased regulatory obligations, market oversaturation and the changing demands of customers in the digital age, have forced insurers to reassess their strategy and operations.
In an increasingly connected business culture, with constantly-evolving risks, there are significant challenges for insurers to navigate. Oversupply in a saturated market means firms must seek points of differentiation against their competitors.
Changing Market Conditions
Insurance, insurers, Apsley Specialty, Solvency II Directive