These changes range from increasingly unpredictable geo-political tensions and the greater frequency and severity of extreme weather events, to rising operating costs and how accelerating use of new technology - especially AI - is reshaping our society and economy.
There are new competitors and new modes of doing business that insurers must also consider.
In this age of ever-evolving changes and challenges, how do customers see and feel about their insurer and the innovative steps in new technologies, services and products that insurers are taking to be more effective in meeting customer needs?
Some answers can be found in the latest findings of our annual European Insurance Consumer Survey, which has been taking detailed soundings of customer attitudes since 2020.
This year we’re reporting a swing in positive sentiment from customers towards their insurers - nearly 1 in 3 say that insurers understand them and they value their products.
Moreover, as the industry considers how generative AI and automation could be transformative, almost 4 in 10 customers are happy for insurers to use AI to help them to get the right policy or make a claim more efficiently without human intervention - but with some caveats about data privacy and controls, of course.
Customers also reveal that the fear of natural disasters like floods and fires are making them ask whether their insurer can support them in more proactive ways, including extreme weather coverage.
We take our role in helping insurers respond to change extremely seriously.
Our technology solutions, and those from our rich ecosystem of partners, are fine-tuned to help insurers keep pace with how customer expectations and the wider market are evolving.
Through our powerful cloud based platform we are able to give insurers greater agility in the market, enabling them to better understand and price risk, assisting them to streamline and transform processes, and be ever more responsive to changing customer expectations and market dynamics.
For all the challenges facing the industry, we actually see great opportunity for insurers to thrive and offer yet greater value to society into the future.
This year’s insights and trends provide us, our partners, and the wider insurance sector, new food for thought about the best pathways for success and growth.