Accenture's "CEO Briefing 2014," a report compiled by The Economist Intelligence Unit that provides a mix of macro-economic, geopolitical and global business insights, reflects the views of more than 1,000 C-suite executives—including 86 from the insurance industry—on future developments in the global economy and at their companies.
In its new report, which characterizes insurers as "cautiously optimistic" about their prospects, the Economist Intelligence Unit reveals the risks that the greatest number of respondents identified as most concerning in the next 12 months.
Consolidation is a key concern for insurers, and is ranked by respondents as the second-most important risk their companies will face over the next year. Some see pressure mounting for firms to consider mergers or acquisitions as the need to invest in technology becomes greater—something more easily achieved from a place of financial strength. The tightening of regulatory regimes around the world is another driving factor, as smaller companies find it increasingly difficult to afford the escalating cost of compliance.
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Shawn Moynihan
Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].
