Over the last five years the insurance industry has been among the most disrupted sectors in the global economy, which created a sense of intimidation among insurers. This disruption has emerged from the speed of technological change, changing customer expectations, continued regulatory change and fear of new market entrants. During a recent visit to South Africa, PwC’s global insurance lead, Stephen O'Hearn, shared his views on developments in the global insurance industry. He also discussed the megatrends that are likely to shape the insurer of the future globally and locally in South Africa.
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