Insurers' 2016 Strategic Initiatives: Advancing Industry Transformation

An SMA Research Report

Deborah M. Smallwood, Senior Partner
Karen Furtado, Partner
Mark A. Breading, Senior Partner
Monique Hesseling, Partner
Publication Date:
January 21, 2016
Number of Pages:
$995.00 USD

The insurance industry is in transformation. It is not always visible to those outside insurance, but many strategic initiatives are underway that are transforming individual companies and the industry at-large. The purpose of this research report is to identifying the strategic initiatives, provide insights on insurer priorities and implications, and reveal how they are being funded.

Insurers' 2016 Strategic Initiatives is based on an SMA analysis of trends from our annual Insurance Ecosystem/IT Spending surveys over the past seven years, in addition to our analysts’ observations. The report, which covers P&C and L&A insurers in North America: 

  • Identifies the broad strategic initiatives that are reshaping the industry,
  • Identifies the business drivers leading to investment and transformation,
  • Discusses 13 strategic initiatives and their role in reshaping companies into Next-Gen Insurers, and
  • Articulates the role of innovation and digital as foundational capabilities.

Figure 1 is an example diagram from the report, showing the top business drivers for technology investment in 2016.


 20160121 StrategicInitiatives

Table of Contents

  • SMA Key Takeaways and Predictions 3
  • An Industry in Transition 4
  • Industry Evolution and Business Drivers 4
  • Company Mode
  • Drivers for Investment
  • 2016 Strategic Initiatives 6
  • Top Investments
  • Positioning the Strategic Initiatives
  • Funding Sources for Strategic Initiatives
  • Strategic Initiatives and the Next-Gen Insurer 9
  • Innovation: Now Table Stakes 10
  • SMA Call to Action 11
  • About Strategy Meets Action 12
  • Use of Our Reports
  • About the Authors