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PwC CEO Survey 2015: Insurers Rank Sources of Disruption
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The biggest obstacle to innovation within the insurance industry is complacency and the mindset that insurance is a highly regulated industry with very little scope for innovation, according to Anand Rao, Principal for PwC's U.S. Advisory Practice. "Using regulation as an excuse for inaction will leave the door open for external players to disrupt the insurance industry," he warned, referring to the fact that 88 percent of insurance CEOs surveyed for PwC's annual survey of CEOs said that changes in industry regulation will be disruptive somewhat or very disruptive to their businesses over the next five years. Only 66 percent of respondents in other industries made a similar assessment.
Related articles:
• PwC's Rao on Innovation
• Inside the Minds of Insurance Innovators
