What are some of the trends that we are seeing in the insurance industry globally? - Peter Huber

Peter Huber, Chief Executive Officer at Zurich International discussed some of the trends that we are seeing in the insurance industry globally.

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1. What are some of the trends that we are seeing in the insurance industry globally?

Video transcript

1. What are some of the trends that we are seeing in the insurance industry globally?

We are seeing the perfect storm brewing in the insurance industry. Obviously, the first one is intensifying regulation across the globe. But, I always say let's not worry too much about it. There's nothing we can do about it, so better get on with it. Secondly, which is much more interesting, is a customer-led revolution. Customers have regained control with technology, with services, and I think we need to adjust our business models to that innovation and technology. You see that connected devices today for the first time have surpassed the number of connected people, and with the introduction of 5G networks across the globe, this is going to explode. And last, but not least, we're seeing obviously economic instability, geopolitical instability, and that's why we need to find business models where we can grow both in scale and skill in order to weather the storm.

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