The tides are shifting and new opportunities arising for life-annuity insurers, according to the 2016 EY US Life-Annuity Insurance Outlook. The industry is in a strong financial position as it moves into 2016, but companies need to innovate and experiment if they want to stay competitive in an omnichannel world of digital-savvy consumers, nagging regulatory issues and global economic uncertainty.
“Past years have focused on shoring up their balance sheets while bolstering reserves and capital,” says Doug French, Principal, Financial Services and Insurance and Actuarial Services at Ernst & Young LLP. “Now, balanced sheets are more robust, putting companies in a position to fuel growth.”
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