World Insurance Report 2015 from Capgemini and Efma

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WORLD
INSURANCE
REPORT
2015

3
2015 WORLD INSURANCE REPORT CONTENTS
05 Preface
Introducing the Eighth Annual World Insurance Report
07 Chapter 1...

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2015 WORLD INSURANCE REPORT PREFACE
Capgemini and Efma are pleased to present the 2015 World Insurance Report (WIR). Thi...

2015 WORLD INSURANCE REPORT CHAPTER 1
7
CHAPTER1 Non-Life Insurers in Most
Markets Demonstrate
Improved Underwriting
Perfo...

8
While emerging markets witnessed robust growth
rates, developed markets found it tough to increase
their premium volumes...

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2015 WORLD INSURANCE REPORT CHAPTER 1
Underwriting ratios mostly improved, with reduced
claims costs acting as the most ...

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Coming after a $12.5 billion underwriting loss in
2012, the global underwriting profit of $8.52
billion in
2013 was a w...

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2015 WORLD INSURANCE REPORT CHAPTER 1
Profit margins for non-life insurers around the
world mostly rose on the strength...

2015 WORLD INSURANCE REPORT CHAPTER 2
13
Alarming Drop in
Customer Experience
Underscores Rising
Customer Expectations
CHA...

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DROP IN POSITIVE CUSTOMER EXPERIENCE
WAS PERVASIVE ACROSS THE WORLD
Despite ongoing efforts to improve service, positiv...

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2015 WORLD INSURANCE REPORT CHAPTER 2
In developed and emerging Asia-Pacific, where
positive customer experience remain...

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positive experiences dictates a moderated approach to
channel management. While insurers need to continue
enhancing mob...

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2015 WORLD INSURANCE REPORT CHAPTER 2
of digital channels continues to rise, insurers can use
them to increase the freq...

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Figure 2.6 Impact of Claims on Positive Customer Experience
Customers with Positive Experience for
Auto Insurance, by ...

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2015 WORLD INSURANCE REPORT CHAPTER 2
claims servicing is probably the result of customer
expectations that have been s...

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for example, the distinction is sharp, with 53% of Gen
Y life customers citing social media as an important
channel, co...

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2015 WORLD INSURANCE REPORT CHAPTER 2
The majority of customers, no matter their age, had
fewer positive experiences re...

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Figure 2.10 Customer Advocacy for Life Insurers with Very Positive, Positive, and Neutral or Negative Experience,
by R...

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2015 WORLD INSURANCE REPORT CHAPTER 2
Especially for customers in Europe and developed
Asia-Pacific, the delivery of a ...

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2015 WORLD INSURANCE REPORT CHAPTER 3
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CHAPTER1
Disruptive Change
Requires Insurers of the
Future to Sharpen
Strategic, ...

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in the very near future and in some cases they are
already facing the impact. This series of rifts will affect
the indu...

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2015 WORLD INSURANCE REPORT CHAPTER 3
The rising cost of claims associated with disasters is
changing the landscape of ...

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Regulatory Change
One outcome of the global financial crisis has
been a comprehensive examination of supervisory
practi...

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2015 WORLD INSURANCE REPORT CHAPTER 3
could use this data to redesign or re-price products to
make them less risky and ...

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quicker claims processing through improvements
such as photo and video estimating, ease of uploading
documents and proo...

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2015 WORLD INSURANCE REPORT CHAPTER 3
mitigating technologies, including telematics aimed at
delivering safety services...

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prevent the occurrence of damage in the first place.
Insurers should seek out partnerships with smart
home technology p...

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2015 WORLD INSURANCE REPORT CHAPTER 3
expensive, insurers will be more inclined to turn to
a combination of what-if ana...

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Figure 3.7 The Capgemini Insurance All Channel Experience (ACE) Business Capability Maturity Model
The insurer does no...

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2015 WORLD INSURANCE REPORT CHAPTER 3
defines seven core capabilities along with the specific
attributes that character...

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Figure 3.8 Gap between Current and Desired Maturity Levels
The insurer does not
know enough about its
customers’ expec...

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2015 WORLD INSURANCE REPORT CHAPTER 3
plans for proficiency across the board can insurers
hope to counteract the waves ...

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Price Competitively
Leading insurers currently engage in a number of
worthwhile pricing practices, including differenti...

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2015 WORLD INSURANCE REPORT CHAPTER 3
Connect Elegantly
Current leading-edge practices include streamlining
interaction...

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Engage Regularly
Leading insurers are taking advantage of numerous
methods of producing high-quality content for
custom...

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2015 WORLD INSURANCE REPORT CHAPTER 3
Deliver Perfectly
Current leading practices in service delivery involve
a signifi...

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Measure Relentlessly
Insurers that excel in monitoring their business do
not rely solely on financial measures. They al...

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2015 WORLD INSURANCE REPORT CHAPTER 3
See Completely
Leading insurers have been able to attain a single
comprehensive v...

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Figure 3.22 Transform Effectively – Current and Desired Maturity Levels of Insurers in Different Regions (%)
Americas
...

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2015 WORLD INSURANCE REPORT CHAPTER 3
CONCLUSION
Insurers are being confronted by several waves of
disruptive changes t...

2015 WORLD INSURANCE REPORT APPENDIX
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Appendix
Efficiency Ratios – Country Analysis
AUSTRALIA
In 2013, Australia stood o...

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Methodology
Higher interest rates and a favorable regulatory
environment helped nudge investment income upward
by 0.8 p...

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2015 WORLD INSURANCE REPORT APPENDIX
damage from floods, hailstorms, and heavy snow. A
rise in gross written premiums d...

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Methodology
Following two years of making major strides in
improving the operational ratio, Indian non-life
insurers br...

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2015 WORLD INSURANCE REPORT APPENDIX
Decline in claims and operational ratios, coupled
with increase in premium income ...

52
Methodology
Due to the decline in premium volumes, the profit
margin of the industry declined in 2013. It has been
obse...

53
2015 WORLD INSURANCE REPORT APPENDIX
UNITED KINGDOM
A modestly improved claims ratio led to a healthy
bump in profits f...

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MethodologyFigure A1 Customer Experience Index, by Country, 2013–2014
0% 20% 40% 60% 80% 100%
CEI (On a Scale of 100) %...

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2015 WORLD INSURANCE REPORT APPENDIX
Figure A2 Insurance Customers with a Positive/Negative Experience, by Country (%)...

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Methodology
SCOPE AND RESEARCH SOURCES
The 2015 World Insurance Report (WIR) covers both life and non-life segments (wi...

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In all cases, ratios depend on a variety of external factors, including general economic conditions, government
regulat...

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Methodology
© 2015 Capgemini
All Rights Reserved. Capgemini and Efma, their services mentioned herein as well as their ...

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2015 WORLD INSURANCE REPORT APPENDIX
We would like to extend a special thanks to all of the Insurance companies and
ind...

www.worldinsurancereport.com
For more information, please contact:
Capgemini
insurance@capgemini.com
Efma
wir@efma.com
For...

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