As the life and pensions sector faces major social, technological, environmental, economic and political factors, it must take advantage of emerging opportunities, according to a new report from PwC US.
In the “Life Insurance 2020: Competing for a Future” report, PwC contends that over the next 10 years life and pension insurers must identify and adjust to a number of market trends, including an aging population, advances in big data and analytics, continued risk of government welfare cutbacks, shifting economies across the globe in developed and emerging countries, and increasing medical advances (e.g., wearable health monitoring devices, personal genomics) coupled with rising medical costs.
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