The future may be hard to predict, but need not be hard to prepare for. Insurers are grappling with the tough new business, investment and regulatory environments that are emerging from the financial crisis.
The industry, however, also faces far broader challenges. Demographic shifts, the rise in power of the emerging markets and changing customer behaviour will all help shape the sectors longer term future.
Insurers who can anticipate and plan for change can create their own future. Others who are fast followers will need to be agile enough to recognise the leaders and adopt similar strategies. The survivors are likely to be focused on short-term performance. Which one are you?