The global insurance industry is being reshaped by disruption. From the rise of artificial intelligence and the surge in cyber-crime to the escalating impacts of climate change and economic instability, insurers are being pulled in multiple directions.
PwC’s Insurance Banana Skins 2025, developed in partnership with the London Foundation for Banking & Finance, explores these challenges. Drawing insights from nearly 700 industry voices across 42 countries, the report reveals the most urgent risks facing insurers today and how South Africa compares.
Locally, insurers are grappling with a fast-changing landscape. Cyber threats are intensifying, climate-related disasters are becoming more frequent and severe and economic pressures are squeezing growth. These risks are further complicated by rapid technological shifts and evolving regulations.
While awareness of these risks is high, the report highlights a concerning gap in preparedness, signalling the need for South African insurers to act decisively in building resilience and future-proofing their operations.
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