At the end of each year, our dedicated Insurance Carrier Practice Team prepares for the important strategic undertaking of putting together our annual whitepaper, The Carrier Perspective.
We’re proud to have seen it become a global resource for insurers as they navigate the year to come and make important decisions that shape the future of their businesses and the industry.
Over the last few months, we have been reviewing the responses to our 2025 Claims Insights surveys from 200 insurers across the globe to uncover the challenges and opportunities that have insurance carriers poised for growth.
Next month, we will reveal fresh insights and invaluable takeaways for the year ahead across seven key areas in The Carrier Perspective: 2025 Claims Insights.
As we prepare for the release, we’re excited to share a preview of some key themes we’ll be exploring in greater length next month.
Cyber Threats and Business Interruption
The increasing reliance on digital technologies and interconnected systems has made cyber security a top priority for insurers. By 2024, data privacy and security compliance emerged as a primary concern, with 83% of Australian and 75% of global insurers recognising the need to adapt to evolving cyber regulations.
In 2025, business interruption caused by cyber events remains a key concern. From the implementation of enhanced cybersecurity protocols to proactive vendor management strategies, this year’s research delves into how insurers are addressing these threats. What lessons have been learned, and how is the industry adapting to stay one step ahead of emerging risks?
Assessing Cost Strategies
In 2024, insurers across the globe identified legacy claims and social inflation as significant barriers to profitability and efficiency. These challenges not only tested operational resilience but also spurred insurers to explore innovative approaches to cost management.
For Australian insurers, 2025 offers an opportunity to reassess and recalibrate strategies for managing long-tail exposures, addressing rising litigated claim costs, and streamlining claims settlements. Our latest findings explore how insurers are adapting their cost strategies to meet these challenges head-on, ensuring sustainable growth and operational efficiency.
The Workforce Evolution Continues
In 2024, flexible work arrangements and competitive salaries were central to workforce strategies for Australian insurers. Hybrid models were largely sustainable, with only 25% of insurers expressing concern about their long-term viability. Upskilling also emerged as a key response to labour market pressures and retention challenges.
As we look to 2025, persistent labour shortages and changing workforce expectations continue to challenge insurers’ ability to grow and manage claims efficiently. This year, the focus is broadening to prioritise holistic benefits, workforce wellbeing, and workplace safety—critical components for retaining talent and fostering resilience in a competitive market.
What strategies are proving effective, and how are workforce approaches evolving to meet new demands? Stay tuned to find out how insurers in Australia and beyond are reshaping their workforce strategies for agility and success.
Customer Experience & Service Excellence
The role of insurers is shifting from traditional risk coverage to proactive partnerships that reduce risks, enhance convenience, and deliver personalised experiences. As customer expectations evolve, clarity, speed, and accuracy in service delivery have become critical.
With challenges such as more frequent CAT events and financial pressures on the rise, insurers are prioritising claims accuracy and resolution speed. This year, we examine how advanced technologies and enhanced communication strategies are transforming customer experiences, driving loyalty, and meeting modern demands.
These highlights offer just a glimpse of the insights to come in our full whitepaper, so make sure you sign up for your advance copy to stay ahead in 2025.
