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1、Bridge the customer experience divideEnsure life insurance relevancy through relentless customer centricityWorld Report Series 2025Life InsuranceForeword 3 Executive roundtable participants 4Executive summary 5 The great CX divide:A threat to long-term industry viability 6 The path to customer centr

2、icity:Intelligent and streamlined processes 14 Orchestrating transformation:Enhance data and deploy Gen AI for experience innovation 22 Conclusion 27 Methodology 28 Partner with Capgemini 29Contents2World Life Insurance Report 2025ForewordTodays life insurers find themselves in an environment filled

3、 with challenges theyve never faced before.Our World Life Insurance Report 2025 suggests how life insurers can make innovative choices today to drive customer centricity in the future in ways that will resonate with key customer segments even as demographics shift.The key is to offer adaptability,fl

4、exibility in coverage,and an array of personalized policy types and engagement channels.Our report shares strategies to counter the shift of modern life insurance from a must-have purchase to a maybe proposition.Carriers can pivot from standard death benefits to financial advice and wellness solutio

5、ns that are more relevant to the needs of current and first-time policyholders and will help insurers retain and increase wallet share.Our primary research determined that only five percent of carriers globally can be considered best-in-class life insurers that consistently deliver outstanding and p

6、ersonalized customer experiences via unified customer views.This top tier is also notable for providing lifetime customer value,automated underwriting,tech-enabled policyholder conveniences,streamlined claim processes,empathetic engagement,and flexible payout options.Based on our findings,we created

7、 a blueprint to support carriers navigating legacy tech infrastructure and processes to prioritize customer-centricity and customer-first cultures.This blueprint guides life insurers in implementing an efficient,seamless,and customer-centric transformation strategy that benefits policyholders,agents

8、,and staff.Our report recommends infusing intelligence into core processes to boost customer satisfaction and increase operational efficiency.Effective transformation strategies address multiple business dimensions,from advanced technology to new talent and partnerships.While the path ahead wont be

9、easy,success stories from best-in-class life insurers demonstrate that transformation success is within reach.These strategies create value for policyholders and boost carriers bottom lines.I encourage you to leverage our blueprint and the reports numerous use cases in your strategic discussions.Ani

10、rban Bose Financial Services Strategic Business Unit CEO&Group Executive Board Member,CapgeminiWorld Life Insurance Report 20253Benny De WyngaertManaging Director Bank Channel&Life DevelopmentAG InsuranceBruno Alves do Nascimento Director of Strategy and Technology BB Seguros Izu Atsushi Head of Inn

11、ovation Planning Group,Head of Global Dai-ichi Innovation Lab Dai-ichi Life HoldingsGiancarlo Bosser Chief Life OfficerGenerali ItalyAntonio Santillo VP,Client Experience and InnovationNorthwestern MutualDiana SteinhoffPresident and CEORenaissanceRory Yates Chief Strategy OfficerEISPatrice Amann EME

12、A Insurance Business LeadMicrosoftLisa Wardlaw President and Founder360 Digital ImmersionJuan Mazzini Director of Insurance Practice for APAC,EMEA,&LATAMCelentChad HershHead of Worldwide Market Development,Life Insurance IndustryAWSSam Fromson Co-founder and COOYuLifeLorenzo Ball Jr Chief Data Offic

13、erMutual of OmahaHans-Erik LindCEONordea Life and PensionPankaj GuptaMD&CEOPramerica Life InsuranceExecutive roundtable participantsFifteen top executives from insurance firms,InsurTechs,and technology leaders across the globe joined two roundtable discussions in preparation for our third edition of

14、 the World Life Insurance Report.Their world insights energized our research program,from generating hypotheses to validating our findings,identifying best practices,and recommending specific actions for improved outcomes.We are grateful for their time,experience,and vision.Insurance and InsurTech F

15、irmsTechnology Leaders and Industry Influencers4World Life Insurance Report 2025Executive summaryAgainst high inflation and macroeconomic uncertainty,todays consumers are only mildly interested in traditional life insurance products.Rising interest rates benefited insurers recent financial performan

16、ce,but short-term gains cannot conceal the longer-term impact of sluggish growth.Our World Life Insurance Report 2025 identifies industry challenges and outlines proven transformation strategies to boost customer satisfaction,increase operational efficiency,and fuel robust profits.Practices from bes

17、t-in-class life insurers offer ways to seize growth opportunities by enriching customer experience(CX)through the adoption of generative artificial intelligence(Gen AI).The great CX divide:A threat to long-term industry viabilityBetween 2007 and 2023,life insurance penetration in mature markets drop

18、ped from 5.4%to 3.6%,prompting many carriers to rethink their customer engagement approach.However,outdated legacy systems,limited adoption of emerging technologies,cost-oriented cultures,and ongoing regulatory scrutiny have hindered transformation.In addition,the low success rate of transformationa

19、l initiatives(41%)perpetuated a cycle of underperformance and outdated practices.With todays technologies including Gen AI insurers can navigate these challenges,drive experience innovation,create a future-ready workforce,and transcend long-time performance constraints.The path to customer centricit

20、y:Intelligent and streamlined processesTo convert CX from a competitive liability into a strategic advantage,insurers can refocus on customer-centric strategies across pivotal touchpoints by:Laying the foundation for stronger customer relationships by optimizing onboarding across third-party and pro

21、prietary channels to address the 37%of customers who struggle with complex terms and unclear benefits Empowering customers while boosting staff productivity by enhancing self-service with AI-powered tools and intelligent platforms to tackle the 25%of customers frustrated by long wait times for suppo

22、rt Creating value during moments of truth by enabling empathetic and intelligent claims experiences to resolve the concerns of 37%of customers who lack clarity on claims status.By addressing these pain points,insurers can significantly improve customer satisfaction,loyalty,and lifetime value.Orchest

23、rating transformation:Enhance data and deploy Gen AI for experience innovationOur primary research suggests that only 5%of life insurers deliver a best-in-class CX.These firms demonstrate how investments in core processes,upgraded technology,and new talent strategies lead to 38%higher Net Promoter S

24、cores(NPS),an 11%lower expense ratio than mainstream life insurers,and 6%higher growth than the industry.The key is orchestrating transformation initiatives around two strategic priorities:Deploying advanced technology to modernize legacy systems,streamline data management,and enable Gen AI.Cultivat

25、ing talent and partnerships to drive customer-centric cultures and increase efficiency across the value chain.The most successful transformations involve smart and purposeful customer journeys that build trust,demonstrate long-term commitment,and maximize customer lifetime value through a powerful c

26、ombination of AI-augmented human interactions and operational efficiency.The growth potential is significant.Now is the time to restore the relevance of life insurance.World Life Insurance Report 20255 The great CX divide:A threat to long-term industry viability6World Life Insurance Report 2025 Cust

27、omer experience has been a business mantra for decades.Corporations across industries have invested significantly to understand customers more intimately and offer more satisfying experiences.Firms that successfully transform their CX typically generate higher customer satisfaction and loyalty,produ

28、ce more repeat revenue,and run more efficient operations.Some leaders have converted deep customer centricity into high-value brands and market dominance.Few,if any,of them are in the life insurance industry.“The life insurance industry has historically treated CX as a vertical,siloed approach,focus

29、ing on digitizing individual touchpoints as isolated experiences,”said Lisa Wardlaw,the president and founder of 360 Digital Immersion,USA.“Instead,it should adopt a latitudinally integrated strategy considering the customers entire policy lifecycle,viewing CX as a long-term journey encompassing cha

30、nging customer needs from onboarding to claims.”Where is the industry heading?The experience of the last several years suggests that the life insurance industry may be sliding toward irrelevance,meriting concerted action on multiple fronts.Despite the recent rebound in financial performance,mainly d

31、ue to higher interest rates,growth in mature markets has been flat for the past 16 years(-0.2%),with penetration declining from 5.4%in 2007 to 3.6%in 2023(Figure 1).1Customers are voting with their wallets:life insurances share of all consumers assets has declined from 7.5%to 5.8%,while equities inc

32、reased from 15.9%to 23.4%.2 However,the trends vary across markets;in some regions,unit-linked insurance products have gained significant traction during the prolonged low interest rate environment.This trend underscores a broader demand for simple,flexible solutions that offer transparency and pote

33、ntial short-term gains while still providing an element of risk coverage.Shrinking penetration and decreasing customer interest explain the life insurance industrys waning appeal to investors.Relative to other financial services firms,life insurers market capitalization fell from 15%in 2007 to 9%in

34、2023,with asset managers and securities brokers receiving most of the redirected investment.3While current consumer trends are not encouraging,they do signal opportunities.Helping policyholders reach financial stability will allow insurers to regain wallet share and restore relevance.Elevating the l

35、ife insurers role in customers lives will require insurers to swiftly and nimbly adapt to fast-evolving market needs.Figure 1.Life insurance penetration rates have declined across mature marketsSource:Swiss Re-sigma explorer.Life insurance penetration rates in mature markets1,%5.4%3.6%3.5%2.7%4.0%6.

36、5%5.6%20072023APACWestern EuropeGlobalNorth AmericaNote:Mature markets:APAC includes Australia,Hong Kong,Japan,New Zealand,Singapore,South Korea and Taiwan.North America includes Canada and United States.Western Europe includes Austria,Belgium,Cyprus,Denmark,Finland,France,Germany,Greece,Italy,Luxem

37、bourg,Malta,Netherlands,Norway,Portugal,Spain,Switzerland and Sweden.World Life Insurance Report 20257What consumers need nowLife insurers have an opportunity to prioritize engaging and customer-centric experiences to help policyholders achieve long-term financial security and peace of mind.Today,54

38、%of US households have no retirement account savings.4 In Europe,39%are not saving for retirement through a voluntary pension.5 The cost-of-living crisis makes matters worse.According to Capgeminis World Retail Banking Report 2024,72%of consumers said high inflation has significantly impacted their

39、financial well-being.Many older individuals,once steadfast in financial planning,have delayed retirement to maintain their lifestyle.For others,multi-stage retirement is an economic need,not a choice.Meanwhile,more than half of younger consumers 52%of US consumers 28 to 43 years old say they dont ha

40、ve enough income to save for the future.6Life insurance customers struggle to prioritize future financial planning and wealth preservation.Currently,policyholders direct only 8%of surplus funds toward increasing life insurance coverage,according to our 2024 Global Voice of the Customer survey,a stud

41、y of 6,186 customers in 18 global markets.These findings make clear that life insurance has gone from a must-have to a maybe purchase for individuals across generations.The state of the life insurance customer experienceHow did we get here?We believe that sub-par customer experiences are the root ca

42、use of the industrys challenges.We also believe that an enhanced CX is the heart of the solution.Of the policyholders we surveyed,59%said they were dissatisfied with policy pricing.It wasnt the cost of premiums that sparked dissatisfaction but the lack of visibility into the how and why of policy pr

43、icing.Specifically,the top three reasons for policyholder dissatisfaction were(1)a lack of transparency in premium calculations,(2)the impact of lifestyle choices on the rates they pay,and(3)hidden fees.However,this dissatisfaction extends beyond pricing and permeates the entire customer journey.App

44、roximately half of the policyholders we interviewed reported underwhelming experiences relative to product offerings(51%),onboarding processes(51%),service(48%),and claims/surrenders(55%).Despite customers struggles to save for the future and their implicit need for more flexible insurance options,t

45、hey say policies remain rigid,complex,and confusing.They find the value of life insurance to be opaque and complex to quantify over decades-long commitments.These factors contribute to suboptimal customer experiences.They also represent missed opportunities for insurers to strengthen engagement and

46、for policyholders to increase their financial well-being.Diana Steinhoff President and CEO,Renaissance,USALife insurers that recalibrate their focus can enhance policyholders core experience.Instead of unnecessary add-on features,we should consider streamlining the basics to meet core customer needs

47、,fostering trust and loyalty.”Daisy Tsang CEO,HSBC Life,Hong Kong&Macau.By amplifying digital capabilities and embedding flexibility into products,life insurers can seamlessly adapt to evolving policyholder expectations while elevating their role in customers financial wellness journeys.”59%of curre

48、nt life insurance customers are dissatisfied with policy pricing8World Life Insurance Report 2025Rob Schaffer,the head of product solutions,individual life insurance at Prudential Financial,USA said,“Life insurers are tasked with catering to a triad of stakeholders:advisors,customers,and employees.T

49、he challenge lies in balancing their diverse expectations while overcoming legacy technology constraints to consistently deliver superior CX.”The high cost of not upgrading legacy systems Life insurers are aware of heightened consumer expectations.Yet,most find themselves shackled by significant int

50、ernal constraints that make it difficult to upgrade the experiences they offer customers.Similar barriers have also limited returns on past transformation investments.Legacy technology remains a significant hurdle for 52%of insurers,according to our 2024 Global Insurance Executives survey,which incl

51、uded 213 global life insurance executives in 16 markets.Existing infrastructure,which may be several decades old,offers little connectivity for data sharing.It was designed to record transactions,not engage customers or connect with partners,and as a result cannot effectively support superior custom

52、er experience.Limited adoption of advanced technologies another byproduct of legacy systems rigidity further stifles insurers ability to deliver an exceptional CX.Complex and intensifying regulation is yet another impediment,according to Mutual of Omahas Chief Data Officer,Lorenzo Ball Jr.“Regulator

53、y limits on what can be fully automated make intelligent automation crucial.Insurers can focus on human augmentation to streamline back-office operations and improve customer service interactions,”he said.Outdated technology and limited digital options create hurdles for customers at touchpoints wit

54、h insurers,which results in excessive paperwork,lengthy wait times,confusing communication,and slow,unclear processes for filing claims and surrendering policies.Customers find interactions with insurers less efficient,convenient,and personalized than in other industries.However,not all friction is

55、negative.At critical stages,customers may benefit from processes that provide more time to work through decisions with long-term implications and feel confident about them.Positive friction of this type is particularly valuable in life insurance as it helps customers fully grasp policy terms and ben

56、efits.Balancing efficiency with appropriate deliberation time can strengthen customer trust,increase knowledge,and boost overall satisfaction.52%of insurers say legacy technology is a significant hurdleWorld Life Insurance Report 20259The path to customer centricityFor life insurers seeking to prior

57、itize policyholder needs and their CX,revamping core processes particularly onboarding,servicing,and claims is crucial.Our research shows where insurers are on their journeys(Figure 2).Most insurers have achieved point automation within business processes(Level 1)by digitizing specific tasks in exis

58、ting workflows.For example,optical character recognition can automate data entry,and digital forms can replace paper-based policy applications.Fewer insurers have redesigned processes across the enterprise(Level 2)to connect the entire organization.Fully integrated customer relationship management(C

59、RM)systems offer unified views of interactions and activities across all touchpoints,allowing better coordination between sales,service,and claims.Centralized data management breaks down silos and creates a single source of truth that is continuously updated and accessible by all relevant functions

60、and users.Not many insurers have integrated ecosystems(Level 3)that capture data from multiple sources and deliver seamless,personalized experiences through policyholders preferred channels.Such ecosystems automate third-party data streams for evidence-gathering during onboarding,underwriting,and cl

61、aims while navigating a complex regulatory landscape.Wearable devices can deliver real-time data for dynamic underwriting and wellness tracking,while sophisticated application programming interfaces(APIs)enable secure connections and robust collaboration with ecosystem partners.Figure 2.Life insurer

62、s struggle to redesign onboarding,servicing,and claims/surrendersLevel of redesign executed,%71%12%17%Onboarding65%9%26%Servicing68%7%25%Claims/surrendersLevel 1 Point automation of business processes Level 2 Enterprise-wide process redesign Level 3 Ecosystem integration Source:Capgemini Research In

63、stitute for Financial Services analysis,2024;World Life Insurance Report Executive interviews 2024(N=213).10World Life Insurance Report 2025Only41%of life insurers met or exceeded their latest transformation goalsRory Yates Chief Strategy Officer,EIS,UKInsurers lacked genuine customer experience-foc

64、used transformation efforts in the past.They were caught up focusing on outdated business models centered on products and operational efficiencies rather than addressing customers needs.Its time to prioritize and invest in initiatives that deliver superior customer experiences.”Figure 3.Life insurer

65、s prioritized multiple goals in past transformationsSource:Capgemini Research Institute for Financial Services analysis,2024;World Life Insurance Report Executive interviews 2024(N=213).Life insurersTop objectives of past transformation initiatives,%39%43%67%Enable new business modelsEnhance custome

66、r experienceEnhance operational efficiencyPrevious transformation challengesPast transformation investments have generally fallen short of delivering the target returns.“Insurers now have a valuable opportunity to learn from past transformation initiatives,”said Pankaj Gupta,the managing director an

67、d CEO of Indias Pramerica Life Insurance.“By setting realistic timelines,addressing integration complexities,and leveraging skilled resources,we can achieve successful execution and sustained momentum,ultimately enhancing customer experiences.”Competing goals are common pitfalls.When operational exc

68、ellence is the main objective,customer experience and innovation often take a backseat(Figure 3).Technical and talent challenges hindered past transformation initiatives,including:Unexpected integration complexities(50%)Lack of alignment with business objectives(42%)Insufficient skilled resources(42

69、%).To hedge against overcommitment and drive successful transformation,insurers can shift from product-centric to customer-centric approaches.This action involves prioritizing initiatives that enhance customer experiences,setting realistic timelines for integration complexities,leveraging skilled re

70、sources in insurance and technology,and continuously gathering and incorporating data and customer feedback.World Life Insurance Report 202511Such a strategy enables insurers to address evolving consumer needs while learning from past transformation efforts and overcoming traditional operational cha

71、llenges.A focused strategy and technology development approach increases the odds of success,as illustrated in the following case study in which a Europe-based global multi-line carrier expanded its embedded insurance business by enabling consumers to buy coverage at the point of sale.A strong digit

72、al platform unlocks growth and boosts CX for the embedded era Business challenge A leading global insurer recognized the need to expand its presence in embedded channels across the Asia-Pacific region.The objective was to make it easy and intuitive for customers to purchase insurance products throug

73、h preferred retail channels.The insurer sought to improve customer experience to drive sales and establish a robust digital platform and flexible operating model to support embedded insurance sales across multiple markets.Business strategy/implementation The insurer partnered with Capgemini to shape

74、 the vision,define the venture strategy,design a target operating model,and create a mechanism to monitor implementation progress.After assessing the technical architecture,the team developed a robust product and API strategy to facilitate seamless integration with retail partners.A secure,cloud-nat

75、ive platform enabled interoperability with diverse retailers.After successfully launching in one market,the insurer is rolling out the solution in multiple countries through various retail channels.Business results The insurer built infrastructure to expand its customer base and realize its ambition

76、s for embedded insurance.The robust digital platform means consumers can efficiently and conveniently protect their experiences.Thanks to the platforms scalable design and a framework for rapidly onboarding new retail partners,the insurer is well-positioned to scale its embedded offerings through mo

77、re channels and markets.1212World Life Insurance Report 2025The promise of Gen AI Insurers have struggled with strategic,technological,and product-related issues for at least a decade with only slight improvement.Now is the time to consider a fresh approach to transformation.Gen AI can be a catalyst

78、 for solving insurers most significant challenges high costs,low customer satisfaction,and a considerable talent gap.Our research shows that primary adopters of Gen AI(defined as the top four buyers of Nvidia H100 chips in 2023)achieved 15 percent gross profit growth in 20222023 while maintaining hi

79、gh customer satisfaction.7 It is noteworthy that these Gen AI adopters grew profits while reducing headcount.Increased growth and customer satisfaction have historically required significant workforce expansions.However,Gen AI pioneers are lighting a new path,where one(admittedly expensive)AI-skille

80、d individual can produce deliverables equal to multiple employees working in operations or customer experience enhancement.This paradigm shift shows how life insurers can address long-standing CX challenges by innovating with leading-edge technology and building a future-focused workforce.Specifical

81、ly,Gen AI can help insurers address talent constraints,a critical consideration given that upcoming retirements and an aging employee base will exacerbate future talent needs.With the right skills and capabilities,insurers can enable customer-centric profitability by bolstering workforce productivit

82、y through AI augmentation.The opportunity for life insurers and the necessary steps to prepare for broader Gen AI deployment are clear.Insurers can unlock immediate business results by:Enhancing system connectivity by implementing a cloud-based centralized data hub for seamless integration Strengthe

83、ning data capabilities by investing in data management tools and upskilling teams in data science and prompt engineering Deploying advanced encryption and access controls to protect sensitive information Implementing a robust governance system to establish clear AI policies,ethical guidelines,and da

84、ta security protocols.World Life Insurance Report 202513The path to customer centricity:Intelligent and streamlined processes14World Life Insurance Report 2025Figure 4.The Capgemini blueprint for an efficient,seamless,and customer-centric transformationSource:Capgemini Research Institute for Financi

85、al Services analysis,2024.Orchestrate the transformationDeploy advanced technologyto modernize legacy systems,streamlinedata management and enable Gen AI Cultivate talent and partnerships to drive an efficient customer-centricculture across the value chainOptimize onboardingEnhance self-serviceEmpat

86、hetic and intelligent claims Customer-centric cultureDisciplined and efficient operations Infuse intelligence into core processes Drive ongoing engagement to maximize customer lifetime valueReap the business benefitsEnhance customersatisfaction Increase operationalefficiency Improve financialperform

87、ance 122In a sector where customers perceive the product as a commodity and seek value through financial security and peace of mind,life insurers are strategically compelled to elevate customer experience to gain a competitive advantage.The way forward is a customer-centric transformation that merge

88、s AI-augmented,human-touch service with disciplined,automated,and efficient operations across the enterprise.Drawing inspiration from best-in-class life insurers,*Capgemini crafted a blueprint to guide carriers through a transformation journey that infuses intelligence into core processes to bolster

89、 customer satisfaction,operational efficiency,and sustainability.Advanced technologies,new talent,and strong partnerships are essential to bottom-line performance and positioning for future profitability(Figure 4).The framework highlights three focal areas to maximize customer lifetime value:Optimiz

90、e onboarding through data-driven distribution and swift risk assessment.Enhance self-service based on AI-powered tools for customers and intelligent platforms for agents,brokers,and customer service staff.Enable empathetic and intelligent claims experiences through copilots.“Understanding and meetin

91、g customer expectations is critical to bridging the CX gap,”said Izu Atsushi,the Head of Innovation Planning Group,Head of Global Dai-ichi Innovation Lab at Dai-ichi Life Holdings,Japan.Giancarlo Bosser Chief Life Officer,Generali Italy,ItalyA twofold approach to operational strategy allows insurers

92、 to streamline low-value tasks and boost customer satisfaction while embracing high-tech,high-touch fusion for high-value tasks like advising,which can empower agent-customer relationships.”*For the scope of this report,“best-in-class”refers to insurers that lead on CX innovation and demonstrate sup

93、erior onboarding,self-service,and claims capabilities.See the next section for details.World Life Insurance Report 202515Figure 5.Customers top three onboarding challenges 35%34%Unclear benefits and coverageComplex terms andconditions25%Delayed underwriting19%Lack of communicationon enrollment deadl

94、ines Retail customersGroup customers25%Limited add-on optionsComplicated and lengthyapplication process 27%Onboarding value chainNeeds analysis andpre-boarding activity Risk assessmentand proposalApplication submissionand quote request Payment andissuance Top three challenges faced,%Source:Capgemini

95、 Research Institute for Financial Services analysis,2024;World Life Insurance Report Voice of the Customer Survey 2024(N=6186).“Data and AI are tools that support our primary objective,which is to engage meaningfully with policyholders based on analyzing their real needs and providing transparent,va

96、luable products and services.We need to clearly communicate benefits to customers to justify premiums and ensure market competitiveness,”he said.Optimize onboarding through data-driven distribution and rapid risk assessmentOnboarding sets the tone for the entire lifetime relationship.Our research re

97、vealed many challenges across the onboarding value chain and unique pain points for different policyholder types,each preventing insurers from making a great first impression(Figure 5).The primary CX issues for retail customers are complex terms,lengthy application processes,and slow underwriting ti

98、mes.Group customers struggle with clarity on benefits and coverage,limited options to enhance their policies,and a lack of communication on enrollment deadlines and policy issuance.Benny De Wyngaert,the managing director of bank channel&life development at AG Insurance,Belgium said,“Customer satisfa

99、ction hinges on clear communication and timely resolution.Insurers that prioritize transparent engagement,set expectations,and promptly answer queries can drive NPS improvements.”Different channels present several engagement opportunities,noted Bruno Alves do Nascimento,the director of strategy and

100、technology at BB Seguros in Brazil.“Bancassurance channels offer a wealth data that AI-powered personal assistants can use to tailor policyholder recommendations and determine appropriate life-stage investment opportunities and risk protection,”he said.As part of our research,insurers cited data-dri

101、ven distribution tools as their top priority to create better onboarding processes.The key is to empower agents and brokers with AI-powered tools.When enhanced with AI,CRM systems can help track interactions,predict needs,and enable proactive outreach.Predictive analytics can identify cross-selling

102、opportunities and assess risk 35%of retail customers cite complex policy terms and conditions as a significant challenge1616World Life Insurance Report 2025Antonio Santillo VP,Client Experience and Innovation,Northwestern Mutual,USAEarning and maintaining customer trust has to be a top priority,incl

103、uding during the onboarding process.A seamless onboarding experience needs to include regular communication with customers to answer their questions and keep them engaged.This builds trust at the entry point,and can increase retention and loyaltyprofiles for personalized recommendations.AI-enabled f

104、inancial planning tools can offer real-time product comparisons,suggest optimal coverage,and visualize long-term scenarios,helping customers understand their options and make more confident decisions.These technologies analyze customer data to provide intelligent recommendations,enhancing agents abi

105、lity to offer personalized,value-added services and strengthening client relationships.Insurers that get the most out of such tools:Incentivize customer data sharing through personalized financial wellness solutions Integrate data sources to empower agents and brokers with AI-driven recommendations

106、Deploy intelligent chatbots to enhance transparency by clarifying policy terms.The second priority identified in our survey includes swift risk assessment and instant policy issuance.Clear opportunities exist to transform lengthy and occasionally painful processes into seamless,value-adding touchpoi

107、nts.Insurers can prioritize initiatives based on their unique product portfolios and customer segments.Key steps include:Making application submissions smarter and faster by using Gen AI to pre-fill forms and suggest appropriate coverage Streamlining policy issuance and payments for low-risk cases b

108、y applying machine learning to automate underwriting decisions and expedite processing Enhancing group insurance onboarding by integrating with HR communications and systems.These actions can enhance CX by reducing unnecessary touchpoints for retail and group customers,and by streamlining onboarding

109、 and offboarding experiences for group customers.They can also result in higher customer satisfaction and retention for all customers.Increased operational efficiency through higher throughput rates and lower underwriting costs will improve financial performance.The following use case from Crdit Agr

110、icole Assurances illustrates how a customer-centric strategic transformation led to superior customer experiences and improved conversion rates.World Life Insurance Report 202517A French insurance groundbreakers customer-centric transformation sparks superior CX and quantifiable benefits for policyh

111、olders and branch advisorsBusiness challenge Frances insurance and bancassurance leader,Crdit Agricole Assurances(CAA),offers life and P&C protection,as well as savings,retirement,and wealth management solutions.CAA distributes insurance products in nine EU countries In mid-2023,the firm sought to s

112、trengthen its savings and retirement position by setting new digital onboarding and contract servicing standards.The goal was to create superior experiences for policyholders and branch advisors by modernizing and rationalizing the organizations underlying technology platform.Business strategy/imple

113、mentation CAA shaped a three-year transformation blueprint,with support from Capgemini,to revamp all life and retirement contract underwriting and servicing digital journeys.The collaborative team built the transformational initiative Customer&Advisor Savings Digital Experience based on seven guidin

114、g principles:Put the customer and advisor at the center of the experience design process Challenge underlying processes and product features to simplify and enhance the user experience Leverage customer data to personalize journeys at critical touchpoints Think“omnichannel by design”to enable a seam

115、less cross-channel experience for all users Consistently monitor conversion performance from day one Deploy agility at scale Rationalize the number of applications used to simplify CAAs IT architecture.Business results CAA celebrated its first milestone in early 2024 by launching the revamped mobile

116、 self-care journey for life insurance top-ups.By designing a superior omnichannel customer experience,empowering branch advisors,and relentlessly monitoring conversion performance,Crdit Agricole Assurances said the conversion rate of this journey was more than doubled.In light of early success,CAA p

117、lans three more digital experience journeys in the second half of 2024.By designing a superior omnichannel customer experience,empowering branch advisors,and relentlessly monitoring conversion performance,we were able to more than double the conversion rate of the life-insurance top-up self-care jou

118、rney.Eric Fron Deputy CEO&Chief Transformation Officer,Crdit Agricole Assurances,France18World Life Insurance Report 2025Figure 6.Customers top three service challenges 22%32%Long wait times to speakwith customer supportLong wait times to speakwith customer support21%Slow processing for serviceand r

119、enewal12%Unsatisfactory resolution Retail customersGroup customers28%Inability to self-servicepolicy changesInability to self-servicepolicy changes 20%Servicing value chainPolicy access(through human agent ordigital platforms)Request processing and executionRequest anddocument submission Closure and

120、communication Top three challenges faced,%Source:Capgemini Research Institute for Financial Services analysis,2024;World Life Insurance Report Voice of the Customer Survey 2024(N=6186).AI-powered tools and intelligent platforms can enhance self-service optionsOur research confirms that retail custom

121、ers are frustrated by long wait times,the lack of self-service options for making policy changes,and slow processing times for service requests.Group customers also express disappointment regarding issue resolution(Figure 6).These challenges stem from a lack of self-service portal capabilities and l

122、imited support channels,a specific pain point for group customers.A significant proportion of insurers seek to bridge the self-service gap.In our Executive Survey,44%of respondents said they would prioritize intelligent agent deployment and staff augmentation platforms such as AI-augmented workbench

123、es and workforce copilots to reduce agents administrative task time and assist staff during customer interactions.UK-based Aviva deployed an AI-driven call center solution to identify vulnerable customers for tailored support.Using vulnerability criteria from the UK Financial Conduct Authority,the s

124、olution from Verint Speech Analytics detects dissatisfaction(via metrics such as repeated calls)and reroutes vulnerable customers for special assistance.The solutions 97%accuracy rate has helped to improve service quality,according to Aviva.8 Robust IT infrastructure and centralized CRM systems are

125、necessary to integrate customer data and deliver personalized recommendations.One Fortune 100 insurer laid the foundation for superior CX and improved self-service capabilities by integrating siloed data to create unified customer views.Hans-Erik Lind CEO,Nordea Life and Pension,NorwayTransparency i

126、n customer interactions is essential,particularly within critical processes.Self-service options and progress-tracking visibility can enhance the CX and reduce customer service burdens.”World Life Insurance Report 202519Offering AI-driven self-service in the channels customers prefer is another prio

127、rity for life insurance carriers.Intuitive self-service portals can help retail customers handle routine tasks and resolve questions.For group customers,dedicated support channels can address numerous member inquiries with content tailored to their unique benefit packages.The payoff for insurers wil

128、l come in many forms,including:Higher customer satisfaction and improved retention rates Increased operational efficiency through lower service costs,improved agent and staff productivity,and more effective compliance with data regulations.A new digital experience from Norway-based Storebrand Livsfo

129、rsikring AS allows customers to create forecasts for multiple pension agreements based on different parameters and initiate secure withdrawals.This fully digitized self-service solution has achieved high customer satisfaction ratings.Enable a more empathetic,intelligent,and satisfying claims experie

130、nceIn the critical moment of claims processing,compassion and efficiency are paramount.However,policyholders say they face complexity,and without human touch,they have little real-time visibility into the status of their claims.For group customers,limited flexibility in payouts is another issue(Figu

131、re 7).These challenges are primarily due to a lack of claims digitization.Limited empathy training and incentives for claims representatives exacerbate the situation.Legacy technology constraints and siloed data make it difficult to quickly deduce claims status and offer alternative payout options,s

132、uch as converting a claim into a new policy or executing a partial payment.AI-enabled copilots can help insurers design and operate smarter and more effective processes.According to our research,the top claims priority for life insurers is deploying intelligent platforms for a richer claims experien

133、ce,cited by 38 percent of our survey respondents.Fortune 100 insurer unifies data silos to boost operational efficiency and enhance CX Business challenge The insurer has multiple lines of business with separate data silos that affected time to market and necessitated manual interventions in financia

134、l reporting processes.Archaic technology systems and a legacy customer data repository slowed data delivery speeds.The insurer sought to integrate required systems into business workflows to enable efficiency and growth use cases.Business strategy/implementation The insurer collaborated with Capgemi

135、ni to build an Enterprise Data platform to modernize legacy data systems.The initiative encompassed migrating and consolidating financial reporting data across three domains actuarial,investments,and finance for more efficient financial reporting.A domain-based data model implementation featured a r

136、obust master data management system to create a unified customer view across the enterprise to effectively manage over 45 million policies for individual life,annuities,and group benefits.Business results The solution delivers a single source of truth for policyholder records,bolstering data trust a

137、nd reliability across the enterprise.This 360-degree customer view enabled critical use cases that drive business through enhanced policyholder service,cross/upsell opportunities,lapse prevention,customer segmentation,and targeted marketing.The insurer said the enterprise data platform significantly

138、 accelerated legacy estate modernization,reducing implementation time by over 40 percent and enabling faster deployment of domain-based data models for customer and finance domains.The 360-degree view for financial reporting streamlined month-end processes,reducing the time to generate book closing

139、reports by more than two days.20World Life Insurance Report 2025Figure 7.What frustrates policyholders about the claims experience?35%34%Challenging to accessCustomer supportComplicated claimapplication process35%Lack of clarity on claimStatus and requirements35%Limited pay-out flexibility Retail cu

140、stomersGroup customers38%Lack of clarity on claimStatus and requirementsLack of empathy 27%Claims value chainClaim initiation andsubmissionCommunication andadjudication Verification&additionaldocument collection Resolution and payout Top three challenges faced,%Source:Capgemini Research Institute fo

141、r Financial Services analysis,2024;World Life Insurance Report Voiceof the Customer Survey 2024(N=6186).These platforms can provide:Easy beneficiary access by offering user-friendly digital portals Seamless transition between AI and human agents through intelligent routing based on claim complexity

142、Automated claim initiation for death notifications for group members through direct integration with employer HR systems.To address policyholder desire for claims process empathy,the secondary priority for insurers is leveraging AI copilots that combine technical details with recommendations for emp

143、athetic language during beneficiary communication.Emotional intelligence training featuring AI-generated scenarios can help customer service staff demonstrate compassion by understanding beneficiaries perspectives during duress.A superior claims experience hinges on using Gen AI to blend empathy wit

144、h efficiency for swift,accurate resolutions.This transformation enhances satisfaction for beneficiaries and employers while improving staff productivity and fraud detection.MetLife collaborates with end-of-life platform provider Empathy to provide concierge services for its group insurance beneficia

145、ries,with access to bereavement care services that merge technology and human support.The platform offers administrative assistance for claims,resources for self-care,and compassionate support for beneficiaries and their families.The benefits have included increased engagement with beneficiaries and

146、 stronger employer-employee relationships.9 Chad Hersh Head of Worldwide Market Development,Life Insurance Industry,AWS,USALeveraging modern,cloud-based systems to integrate group policies with employer HR platforms gives policyholders access to coverage details,automates claim submission for employ

147、ers,and simplifies insurer data retrieval for a seamless stakeholder experience.”World Life Insurance Report 202521Orchestrating transformation:Enhance data and deploy Gen AI for experience innovation22World Life Insurance Report 2025Insurers that revamp core systems to transform onboarding,service,

148、and claims create an opportunity to win customer minds and wallet share with a superior customer experience and a cost-optimized environment.Best-in-class insurers generate policyholder value while boosting their business bottom line.How leaders win with superior customer experienceOur research indi

149、cates that only five percent of life insurers deliver quantifiably outstanding CX to achieve best-in-class status.So,what are these best-in-class insurers doing differently?Compared with mainstream insurers,they offer exceptional onboarding,self-service,and claims capabilities(Figure 8).How can main

150、stream insurers develop transformational capabilities?They can cultivate integrated customer views by unifying data across touchpoints Focus on lifetime value by offering tailored policy upgrades and cross-sell opportunities Leverage advanced analytics,Gen AI capabilities,and risk expertise to gener

151、ate actionable insights to create personalized experiences that resonate Prioritize innovation through data-driven distribution and engagement,intelligent platforms for agents,and advanced technologies.By focusing on the human dimension of the business,leaders also promote empathy,warmth,and authent

152、ic policyholder engagement,particularly during times of need.Figure 8.Best-in-class life insurers lead in CX innovationSource:Capgemini Research Institute for Financial Services analysis,2024;World Life Insurance Report Executive interviews 2024(N=213).Optimize onboardingEnhance self-serviceEmpathet

153、ic and intelligent claimsData-driven distribution78%29%Automated underwriting 78%15%Digital portal for policy management for agents56%21%Self-service portals78%13%AI assistance for voice and sentiment analysis56%3%Digital claims submission67%7%Mainstream Best-in-class life insurersJuan Mazzini Direc

154、tor of Insurance Practice for APAC,EMEA,&LATAM,CelentWhile automation streamlines processes,policyholders often seek human empathy in sensitive matters.Insurers must recognize customer needs and behaviors,weigh the risks of fully automated engagement,and tailor technology use accordingly.”23World Li

155、fe Insurance Report 2025Our survey and analysis revealed that the best-in-class insurers do more than develop advanced capabilities;they also translate them into business results to drive outperformance(Figure 9).Specifically,they achieve 38%higher NPS scores and 11%lower expense ratios than mainstr

156、eam life insurers.Within the past three years,they also generated 6%higher revenue growth than the industry.Best-in-class life insurers unlock advantages by orchestrating transformation initiatives around two strategic priorities:Deploying advanced technology to modernize legacy systems,streamline d

157、ata management,and enable Gen AI Cultivating talent and partnerships to drive customer-centric cultures and increase efficiency across the value chain.Deploying advanced technology to accelerate legacy modernizationMost insurers adopt a multifaceted hybrid approach to core system modernization,combi

158、ning readymade software with customized functionalities via API-driven digital wrappers.By adding tools and technology,they can tailor features and processes to their unique requirements without compromising the integrity of the packaged systems.This strategic approach helps them avoid future proble

159、ms and control costs.The result is a flexible yet robust infrastructure to support efficient operations and facilitate rapid adaptation to evolving customer needs.As illustrated in the case study below,Gen AI plays an influential role in the modernization process by:Identifying optimal migration pat

160、hs and modeling scenarios to guide strategic planning Extracting,cleansing,and integrating data from legacy platforms Generating and optimizing code,automation of testing Analyzing patterns and historical data to predict implementation challenges and then providing real-time solutions for smoother r

161、ollouts.The CEO of Sureify,USA,Dustin Yoder,said,“With a high-performance edge API,insurers can unify data and business processes,including across multiple complex backends,effectively de-risking legacy systems while improving the customer experience.”Gen AI-assisted life closed block migration for

162、a Global Life Insurer Business challenge A global life insurer aspired to increase business agility,reduce operating costs,and offer real-time customer service.To achieve this goal,the company planned to migrate its life business from legacy to modern applications.The aim was to use AI tools to comp

163、lete the migration within accelerated timeframes.Capgemini implemented tools and processes capable of extracting legacy product requirements,rates,and logic to quickly convert business processes and achieve higher quality,speed,and accuracy using data for a complex life product(a group whole life co

164、ntributor).Strategy/implementation To better understand its core systems,the insurer leveraged Capgeminis AI-powered tools to analyze existing applications quickly.The process automatically assessed the overall health and complexity of the organizations codebase.The analysis identified outdated comp

165、onents,inter-program dependencies,and each functions underlying business logic.The tools helped eliminate rigid legacy-system coding,making codes more adaptable.Moreover,AI helped the insurer automate mapping data between the source and target systems.Business results Capgeminis AI accelerators scan

166、ned 20,000+lines of code with 800+target fields.This accelerated mainframe assessment delivered 90%automated code assessment,6080%automated reverse engineering,90%automated data mapping,and 70%automated code documentation.24World Life Insurance Report 2025Figure 9.Best-in-class life insurers realize

167、 business resultsSource:Capgemini Research Institute for Financial Services analysis,2024;World Life Insurance Report Executive interviews 2024(N=213).Enhanced customersatisfaction 2023 38%Higher Net PromoterScore(NPS)thanmainstream insurers Increased operationalefficiency 202311%Lower expense ratio

168、than mainstream insurers Higher growththan the industry6%Improved financialperformance(last 3 years)Harnessing the power of effective data managementA modern and secure data management model is critical to reaping the full benefits of core system transformation.Here again,best-in-class life insurers

169、 offer a proven template.Specifically,they:Train and upskill employees on data management best practices to ensure secure data handling across the organization Adopt secure data sourcing,classification,and protection to maintain regulatory compliance and protect sensitive customer information Break

170、down long-standing product and data silos across the organization to create unified customer views,enabling enhanced decision-making,tailored customer service and engagement Democratize data consumption with efficient storage solutions and adequate access controls to empower responsible access and u

171、sage at all levels while fostering innovation and enhancing risk assessment accuracy Deliver insights quickly by designing efficient workflows and promoting transparency to enable agile responses to market changes and customer needsGenerali Italys Chief Life Officer Giancarlo Bosser said,“Insurers c

172、ould face significant personalization challenges due to limited customer data availability and heavy reliance on intermediaries for insights.Forming strategic data-collection partnerships is crucial for insurers to boost personalization and the customer experience.”Whats necessary to unleash the pow

173、er of Gen AI?As part of our executive survey,67%of respondents from best-in-class insurers said their organizations were ready to leverage and maximize Gen AI capabilities;that figure was 25%for mainstream insurers.Yet readiness is one thing;realizing value is another.Insurers looking to Gen AI to i

174、nnovate their policyholders customer experience and optimize operations are wise to address potential challenges,such as data hallucinations(responses generated by Gen AI that contain false or misleading information presented as fact),evolving regulations,high costs,and scalability and maturity conc

175、erns.A centralized and disciplined governance framework provides the foundation for safe and innovative Gen AI deployment across the business(Figure 10).Cultivate talent and forge beneficial partnershipsIt may be clich that technology alone wont transform a business,but its true.In life insurance,ne

176、w talent and strong partnerships are necessary to unleash the power of data and Gen AI to enhance the customer experience.Talent recruitment is a big challenge.In fact,according to our research,34 percent of insurers identify talent as a top-three obstacle hindering their ability to deliver superior

177、 customer experience.Todays most significant talent gaps are behavioral scientists,experience designers,and AI prompt engineers.Each of these roles can help to improve customer experiences.Transforming the existing workforce can also make a difference.Linking incentives to policyholder outcomes fost

178、ers a customer-centric mindset.Tailored training and upskilling 67%of best-in-class insurers are ready to maximize leverage of Gen AI25World Life Insurance Report 2025Figure 10.A centralized and disciplined governance framework can unlock Gen AI valueSource:Capgemini Research Institute for Financial

179、 Services analysis,2024.Prioritize use cases to demonstrate Gen AI ROI Target low-risk/high-impact quick wins like onboarding,code development,servicing,and contact center operations Reinvent your operating model to leverage risk data to predict customer lifetime value potential,tailor CX,and optimi

180、ze up-and cross-selling opportunities Build an AI team with direct C-Suite reporting Form a cross-functional team with business and IT leaders,AI experts,ethicists,and compliance pros Provide centralized support for local initiatives and ensure alignment with business goalsEstablish a disciplined go

181、vernance foundation Define policies to ensure data quality,explicability,and regulatory auditability Set scale-up priorities with clear stage gates by deploying randomized control trials to evaluate Gen AI performance Establish a continuous monitoring system Involve senior leaders in setting Gen AI

182、KPIs linked to key business outcomes Regularly adjust approach and KPIs to align with evolving business goals and landscapeSam Fromson Co-founder and COO,YuLife,UKIn-house attempts at technology transformation often fail due to a mismatch between a carriers risk-centric mindset versus the customer-c

183、entric,experimental approach needed for great experiences.Ecosystems and partnerships allow insurers to focus on core competencies while leveraging specialized expertise to enrich CX.”Patrice Amann EMEA Insurance Business Lead,Microsoft,FranceEmbracing innovation frequently entails not only adopting

184、 new technologies but also transforming cultural mindsets.Forward-thinking insurers break free from traditional perspectives,embracing a disruptive,digital-first strategy that prioritizes customer expectations over their own resistance to change.”programs can help drive focused results such as more

185、humane and personalized service for claims beneficiaries.Strategic partnerships may be necessary for the most in-demand skills and capabilities and for connecting with new data sources.Collaborations with CX leaders outside the industry can help revamp life insurance journeys and accelerate innovati

186、on.For instance,Pan-Asian life insurer FWD Group partners with Microsoft to deploy AI-driven copilots for more effective customer acquisition,marketing,underwriting,and claims processing.These Gen AI solutions streamline employees tasks while boosting operational efficiency.10Upskilled internal tale

187、nt and partnerships can shape a customer-first culture.Insurers can build on the foundational technologies we discussed earlier to:Foster customer-centric innovation and process redesign to maximize customers lifetime value Augment human expertise with Gen AI for tailored,empathetic,and impactful cu

188、stomer interactions Incorporate appropriate friction by creating deliberate pauses that encourage customers to consider important decisions carefully.These touchpoints can enhance customer satisfaction and reduce the risk of mis-selling by helping policyholders fully understand their commitments and

189、 the benefits of the coverage they purchase.26World Life Insurance Report 2025ConclusionIts clear that future success is contingent on regaining and maintaining customer mind share and wallet share through data-driven,AI-enriched CX that positions insurers as lifelong partners and reflects the indus

190、trys highly personal and sensitive nature.Transformation is as much about business purpose as technology.By crafting intelligent policyholder journeys,insurers can build trust,demonstrate commitment to long-term customer well-being,and deliver the peace of mind sought by insureds and their beneficia

191、ries.That sense of security and confidence is the industrys foundational purpose.Insurers can harness customer experience as a differentiator while driving operational efficiency.The path forward involves four key steps:Promote policyholders financial wellness through comprehensive,flexible solution

192、s and education that elevate insurers role in customers lives and meet their evolving needs over time Reimagine customer experience through seamless,engaging policyholder journeys and empathetic beneficiary claims experiences that boost customer acquisition,long-term relevance,and retention Leverage

193、 Gen AI and data through the industrys unique longevity and risk assessment expertise to offer personalized lifestyle solutions Simplify and modernize IT architecture for fast,flexible,and scalable solutions that empower agents/brokers and support a wide range of individualized customer journeys.We

194、believe life insurers that follow these steps can resolve long-standing challenges while bolstering relevance and maximizing customer lifetime value.Insurers can increase revenue and efficiency by combining AI-augmented human interactions with operational excellence.Best-in-class insurers are provin

195、g that such breakthrough value is within reach.We recommend that all carriers consider the urgency of transformation:now is the time to begin.27World Life Insurance Report 2025MethodologyThe World Life Insurance Report 2025 draws data from two primary sources:the Global Voice of the Customer Survey,

196、administered during May and June 2024,and the Global Insurance Executive Survey,conducted during May and June 2024.This primary research covers insights from 20 markets:Australia,Belgium,Brazil,Canada,Finland,France,Germany,Hong Kong,India,Italy,Japan,Mexico,the Netherlands,Norway,Portugal,Singapore

197、,Spain,Sweden,the United Kingdom,and the United States.Global Voice of the Customer SurveyOur comprehensive Voice of the Customer Survey,administered in collaboration with Phronesis Partners,polled 6,186 life insurance customers in 18 countries.These markets represent all three regions of the globe

198、The Americas(the United States,Mexico,Canada,and Brazil),Europe(Belgium,France,Germany,Italy,the Netherlands,Portugal,Spain,Sweden,and the United Kingdom),and Asia-Pacific(Australia,Hong Kong,India,Japan,and Singapore).Global Insurance Executive SurveyThe report also includes insights from interview

199、s with 213 leading life insurance company executives across 16 markets.These markets together represent all three regions of the globe The Americas(the United States,Canada,and Brazil),Europe(Belgium,Finland,France,Germany,Italy,the Netherlands,Norway,Spain,and the United Kingdom)and Asia-Pacific(Au

200、stralia,Hong Kong,India,and Singapore).Insurers maturityIn the report,we calculated each firms maturity(best-in-class versus mainstream insurers)based on their self-assessment of the following categories:Onboarding initiative adoption,on a scale comprising not adopted,pilot,business unit,organizatio

201、n,and group level.Initiatives included automated underwriting,seamless data integration facilitated by open insurance,easy premium payment options,product education for policyholders,communication of benefits/enrollment procedures to group-client members,data-driven tools for product and benefit ill

202、ustration for agents/brokers,digital portals for policy management for agents/brokers.Servicing initiative adoption,on a scale comprising not adopted,pilot,business unit,organization,and group level.Initiatives included self-service portals,proactive communication,AI-powered chatbots/virtual assista

203、nts,workforce copilot to assist customer service staff,centralized CRM system,digital portals for policy servicing/management for agents/brokers,intuitive online benefit enrollment platforms for group members,support channels for member inquiries about group-client benefits.Claims initiative adoptio

204、n on a scale comprising not adopted,pilot,business unit,organization,and group level.Initiatives included a digital claim submission process,real-time claim status updates,AI-powered claims assessment,training for agents/insurer representatives to offer empathy and support techniques,workforce copil

205、ot using voice and sentiment analyses to assist claims staff,flexible benefit options to meet the diverse needs of client group members,portal for group client members and their beneficiaries,clear communication on documentation and timelines,beneficiary engagement through online access capabilities

206、.Technology adoption ratings were calculated based on a selection scale,including not adopted,pilot,business unit,organization,and group level.Technologies included low code/no code,cloud,AI including Gen AI,advanced analytics,and APIs.Technology infrastructure preparedness to support Gen AI adoptio

207、n was rated using a selection scale that included unprepared,moderately prepared,prepared,and comprehensively prepared.Overall,CX improvement priorities were calculated based on a scale that included the options not adopted,pilot,business unit,organization,and group levels.Priorities included ecosys

208、tem partnerships,legacy transformation,mainframe migration,product personalization,digital servicing,etc.Our analysis indicated that the top five percent of firms(best-in-class)are leading across these initiatives and are reaping related benefits.28World Life Insurance Report 2025Partner with Capgem

209、iniLife insurers face a critical juncture in an era of heightened customer expectations and disruptive innovation.To thrive,they must transcend traditional models and embrace a future where technology empowers human connection.By seamlessly integrating AI with expert guidance,carriers can unlock unp

210、recedented opportunities to deliver personalized experiences,streamline operations,and maximize policyholder lifetime value.Where to start?Begin by optimizing onboarding with swift risk assessment and instant policy issuance using data-driven distribution and communication Enhance self-service throu

211、gh AI-powered tools for customers and intelligent platforms for agents/brokers/customer service staff Speed up,simplify,and improve claims processing with ecosystem integration for empathy training,sentiment analysis,and beneficiary engagement.Let Capgemini guide your efficient and customer-centric

212、transformation by leveraging technology,talent,and partnerships.Our solutions crafted with input from industry experts and built on our extensive experience will help your organization to:Extract value from legacy businesses Migrate legacy with AI-first tools and frameworks:Harness the value of Gen

213、AI to extract processing logic and rules from legacy administrative systems.Modernization will cost-effectively meet timeline expectations with higher quality than traditional methods.Capgemini will help migrate your operations to a modern cloud-based environment,redesign related service processes,a

214、nd retrain and rationalize staff as necessary.De-risk legacy with a digital core transformation:Let Capgemini help revitalize your existing core investments within a cloud-based composable technology ecosystem.Well help you harness capabilities while prioritizing agility,economy,and scalability.The

215、result?An end-to-end modern ecosystem that supports unified customer experience,enables complete sales and service process redesign,and empowers workforce capability,including necessary distribution partner upskilling.Drive business growth and profitability Take the ease of doing business to the nex

216、t level powered by digital agency:Formulate a technology-driven agent/customer experience strategy as a competitive differentiator.With Capgemini,get to the bottom of your structural IT challenges and build a blueprint that will feature all ecosystem capabilities,process transformation,and AI-based

217、enhancements for operational success.A single unified front-end experience for sales across all lines of business will catalyze success with the targeted use of automated workflows,data fill,and muti-line functionality.Modernize data estate infrastructure for secure and always available data:Liberat

218、e the total value of your data investments by ramping up the use,adoption,and availability of data assets while saving money through automation.We will help you achieve your desired outcomes through automated data extraction and transformation.We will load business-relevant cadences from legacy syst

219、ems into centralized cloud-based data lakes with standardized integration and API layers.Transform operations for customer-centric service:Elevate your customer experience with Capgeminis AI-powered solutions.We will help streamline your contact center and back-office operations,ensuring smooth inte

220、ractions for enrollment,customer service,and claims.By harnessing the power of AI and automation,you can boost efficiency,deliver exceptional support across all channels,and gain a competitive business edge.The result?Happier customers,improved customer loyalty and lifetime value,streamlined operati

221、ons and a more robust bottom line.World Life Insurance Report 202529Ask the expertsSamantha ChowGlobal Life and Annuity Sector LSamantha Chow is an expert in the global life,annuity,and benefits markets and has 25 years of experience.She has deep expertise in driving the growth of enterprise-wide ca

222、pabilities that facilitate transformational and cultural change,focusing on customer experience,operational efficiency,legacy modernization,and innovation to support competitive advancement.Adam DenningerGlobal Industry Leader for Insurance Adam Denninger leads Capgeminis global strategy and product

223、 management for the insurance industry and manages its relationships with the insurance technology ecosystem.Adam has 20+years of experience creating and delivering solutions at the intersection of business and technology.Shane CassidyInsurance Business Unit Leader Shane Cassidy is the head of Capge

224、minis Global Insurance Business Unit.Shane has been at the forefront of digital disruption and innovation for two decades,identifying and developing solutions to address the market evolution.Nathan SummersManaging Director of Financial Services,Capgemini Invent Nathan Summers is the Managing Directo

225、r of Financial Services at Capgemini Invent.He has more than 25 years of consulting leadership experience and works with senior client leaders on group strategy and strategic transformation initiatives.30World Life Insurance Report 2025Lotfi BaccoucheCo-lead of Insurance Practice,Capgemini I Lotfi B

226、accouche is co-leading Capgemini Invent insurance practice globally.He advises major insurance firms on business strategy and operating models.He supports insurance firms in improving their operational efficiencies and risk profiles by developing and implementing technologically enabled solutions.Ki

227、ran BoosamGlobal Portfolio Leader for Insurance Kiran Boosam leads Capgeminis Global Insurance Portfolio.A career P&C and life insurance expert,Kiran assesses the industry dynamics,forecasts Insurance CXOs strategies,shapes fitting innovative portfolios,and enables key accounts to leverage the power

228、 of the Capgemini Group,external ecosystems,and emerging technologies.Elias GhanemGlobal Head of Capgemini Research Institute for Financial Services Elias Ghanem leads Capgeminis global portfolio of financial services thought leadership.He oversees a team of strategy consultants and sector analysts

229、who deliver market insights to help clients build future-proofing strategies.He has more than 25 years of financial services experience,focusing on win-win collaboration between incumbents and startups.Luca RussignanHead of Insurance and Deputy Head of Capgemini Research Institute for Financial Serv

230、ices Luca Russignan is an insurance expert with more than 15 years of experience with industry-leading consultancies and insurers.At Capgemini,he enables CxO conversations in the insurance sector through data-driven thought leadership to shape insurance business strategy across the UK,US,Italy,and A

231、PAC.World Life Insurance Report 202531Key contactsGlobalShane Cassidy Adam Denninger Ian Campos Nathan Summers .Australia and New ZealandRoshnai Chaudhuri Saugata Ghosh .BelgiumJan Verlinden Patricia Boydens Sanjay Jhamb .FranceThierry Loras Lena Pastor .Germany Alexander Pusch Thomas Hillar IndiaAa

232、rti Rao Pranab Ghosh .ItalyMatteo Bonati Lorenzo Busca .JapanKazuhira Takewa Atsushi Terasawa .LatAMRicardo Acacio Renata Ramos .Middle East(KSA&UAE)Shehab Abdelwahab .The NetherlandsJimut Basa Ewout Bouwman NordicsJimut Basa Helen Jensen(Sweden and Finland) Cecilie Vatn(Norway) .PortugalGuilherme D

233、uro Barroso guilherme.durao- Laura Magalhaes .SE AsiaSivakumar Vankamaddi Liotard-Vogt Laurent laurent.liotard-.SpainJordi Valls Ribas jordi.valls-Antonio Luis Nuez Pitera antonio-luis.nunez- .UKSree Vishala Ravipati sree-Lotfi Baccouche .USA and CanadaSamantha Chow Patrick Bucquet 32World Life Insu

234、rance Report 2025We offer special thanks to the insurers,ecosystem partners,and industry experts who contributed their valuable time during the World Life Insurance Report Executive Interviews and the Voice of the Customer Survey.We appreciate the expertise of participating firms:360 Digital Immersi

235、on,AAA-The Auto Club Group,AG Insurance,AG2R La Mondiale,Allianz Benelux,Allianz Lebensversicherungs-AG,Alte Leipziger Lebensversicherung A.G,Ameritas,AWS,AXA Seguros,Baloise Insurance,BB Seguros,Bradesco Seguros,Bradesco Vida e Previdncia,Brasilprev,Brasilseg,Celent,CNP Seguradora,Crdit Agricole As

236、surances,Crdit Agricole Vita,Curalia,Dai-ichi Life Holdings,DELA Insurance Belgium,EIS,Ethias NV,Federale Verzekering,Generali Italy,Groupama,HSBC Life(International)Limited,Max Life Insurance Company Ltd.,Microsoft,Monument Assurance Belgium,Mutual of Omaha,NN Insurance Belgium,Nordea Life and Pens

237、ion,Northwestern Mutual,Nurnberger Lebensversicherung AG,Pramerica Life Insurance,Prudential do Brasil,Prudential Financial,Reale Mutua,Renaissance,Seguradora Zurich,Signal Iduna Lebensversicherung A.G,Storebrand Livsforsikring AS,SunLife Financial Inc,Sureify,The Wawanesa Life Insurance company,Van

238、 Breda Risk&Benefits,VPV Lebensversicherungs-AG,YuLife,Lnsfrskringar Fondliv,LF Jnkping.We recognize the following teams and individuals for analysis,composition,and production:Capgemini Research Institute for Financial Services:Shaik Arbazuddin,Chayan Bandyopadhyay,Swati Goswami,and Ishan Jain for

239、providing in-depth market analysis.Cole Ollinger for copywriting and editorial support,Tamara McKinney Berry for editorial leadership and content oversight,and Dinesh Dhandapani Dhesigan for graphical interpretation and design.Capgemini Sponsorship Committee:Vijay Amballa,Kiran Boosam,Samantha Chow,

240、Adam Denninger,Ajish Gopan,Aarti Kulkarni,Thierry Loras,Aarti Rao.Capgeminis global insurance network:Jimut Basa,Martin Baumann,Rachna Bhutoria,Lars Boeing,Pierre-Olivier Boue,Patricia Boydens,Ian Campos,Shane Cassidy,Divij Chopra,Ian Craney,Jignesh Desai,Pranay Desai,Biju George,Stefan Grimfors,Ami

241、t Gunjan,Stefan Hanslmaie,Anand Syril Joseph,Pankaj Kakkar,Himanshu Kalra,Doli Karmakar,Saurabh Kulkarni,Emilio Laterza,Gustavo Leanca,Ashley Luke,Matteo Bonati,Hardik Mehta,Marianne Moe-Helgesen,Arnaud Monchatre,Conor OBrien,Simi Pillai,Sean Rowlands,Gilles Scaramiglia,Prachi Jaydeep Shah,Chirag Th

242、akral,Klaus Thummert,Shinichi Tonomura,Cecilie Vatn,Shahina Vayyapuram,Jan Verlinden,Jonathan Walters.Marketing:Vijaydeep Singh,Meghala Nair,Jyoti Goyal,David Merrill,Neha George,Swathi Raghavarapu,Fahd Pasha,Manasi Sakpal,Anthony Tourville,Manisha Singh,and Vamsi Krishna Garre for their overall mar

243、keting support for the report;and the Creative Services Team:Sushmitha Kunaparaju,Pravin Kimbahune,and Balaswamy Lingeshwar for report production.AcknowledgmentsLead analystSukanya Sen Manager,Insurance Capgemini Research Institute for Financial Services Sukanya is a CRI|FS insurance domain project

244、manager with more than 5 years of experience.She manages several projects while researching and analyzing data to formulate impactful insurance business insights.33World Life Insurance Report 2025Endnotes1.SwissRe Sigma Explorer,“World Insurance Premiums.”Accessed July 2024.2.GlobalData,“Retail Inve

245、stments Analytics.”Accessed July 2024.3.Capgemini Research Institute for Financial Services analysis 2024,based on Companies Market Cap.Accessed July 2024.4.USA Facts,“Nearly half of American households have no retirement savings.”November 9,2023.5.Insurance Europe,“2023 Pan-European Pension Survey.

246、”Accessed July 2024.6.Transamerica Institute,“The Multigenerational Workforce:Life,Work,&Retirement 24th Annual Transamerica Retirement Survey of Workers.”June 2024.7.Capgemini Research Institute for Financial Services analysis 2024,based on annual reports of selected firms.”Accessed July 2024.8.Ver

247、int,“Aviva Life Reimagines Vulnerable Customer Experience with Verint Speech Analytics.”Accessed July 2024.9.Insurance Innovation Reporter,“MetLife Launches Empathys Bereavement Support with AT&T.”October 6,2023.10.CDO Trends,“FWD Group Bets Big on Gen AI to Transform Insurance.”February 26,2024.34W

248、orld Life Insurance Report 2025About usDisclaimerThe information contained herein is general in nature and is not intended and should not be construed as professional advice or opinion provided to the user.Capgemini assumes no liability for errors or omissions,or use of this material.This document i

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252、 think-tank on all things digital and their impact across industries.It is the publisher of Capgeminis flagship World Report Series,which has been running for over 28 years,with dedicated thought leadership on Financial Services focussing on digitalization,innovation,technology,and business trends t

253、hat affect banks,wealth management firms,and insurers across the globe.To find out more or to subscribe to receive reports as they launch,visit https:/Financial Services World Report Series Capgemini is a global business and technology transformation partner,helping organizations to accelerate their

254、 dual transition to a digital and sustainable world,while creating tangible impact for enterprises and society.It is a responsible and diverse group of 340,000 team members in more than 50 countries.With its strong over 55-year heritage,Capgemini is trusted by its clients to unlock the value of tech

255、nology to address the entire breadth of their business needs.It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering,all fueled by its market leading capabilities in AI,cloud and data,combined with its deep industry expertise and partner ecosystem.T

256、he Group reported 2023 global revenues of 22.5 billion.Get The Future You Want|World Life Insurance Report 202535October 2024.Copyright 2024 Capgemini.All rights reserved.Visit the report websiteFor more information,please contact: For press inquiries,please contact:Fahd Pasha Capgemini Financial Services Tel.:+1 647 860 3777