The 2020 BlackRock Global Insurance Report reflects a June-July 2020 survey of 360 senior insurance executives across the globe. We help map the future of the industry through the eyes of your peers and share the perspectives from leading insurers and BlackRock experts. Key themes include:
Embracing digital transformation
Reinventing business models
Enhancing portfolio flexibility
Prioritising sustainability objectives
01. Embracing digital transformation
69% of respondents plan to prioritise technology investment in response to a permanently changed environment. Technological change and a more flexible and tech-enabled workforce open new possibilities to create value across the business from operations through to digital distribution. Find out more
02. Reinventing business models
Over 60% envisage a more flexible, targeted product offering with closer policyholder engagement in an environment of low rates and significant pressure on policyholders following the pandemic. Closer coordination between product and investment teams is considered essential as insurers redesign end-to-end processes and offer new forms of coverage. Find out more
03. Enhancing portfolio flexibility
Close to 60% look to combine a focus on quality with higher diversification, as well as increasing portfolio flexibility with strong governance. While risk appetite is remarkably robust insurers look to strengthen resilience, carefully balancing the focus on quality with the need for higher returns through selectively increasing exposure to illiquid assets. Find out more
04. Prioritising sustainability objectives
78% believe the COVID experience is accelerating their focus on ESG, with over half putting greater emphasis on social and governance aspects. Insurers are looking to embed sustainability across both sides of their balance sheet, using a wide range of approaches. Find out more
Risk warnings
Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.
Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.
Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Levels and basis of taxation may change from time to time.
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