McKinsey & Company
McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations
See below for the Latest McKinsey & Company News, Analysis, Profit Results, Share Price Information, and Commentary
McKinsey finds insurers lagging peers miss out on AI-led gains
McKinsey finds insurers lagging peers miss out on AI-led gains
AI has led to 10% to 20% improvement in new-agent success.
McKinsey sees AI transforming underwriting and claims work
AI is expected to handle nearly all customer onboarding and policy processes.
Auto insurers under strain from high-tech repairs
Fixing EVs is expensive, leading many to declare these as a loss.
P&C insurers stuck with costly legacy tech, McKinsey warns
Legacy platforms are driving up IT costs and limiting operational agility.
Asia-Pacific insurers told to start targeting Gen Z
They are less aware about insurance products than Millenials.
Non-life insurers told to upgrade tech to drive growth
It could help the industry ride market trends and mitigate risks.
Rising healthcare costs drive growth in Indian insurance: McKinsey
From FY 2020 to FY 2023, the industry saw a CAGR of 11%.
P&C insurers face strategic pressure as growth in premiums slows: McKinsey
The average combined ratio improved to about 91% in 2023 driven by rate increases.
Asia leads in embedded insurance, set to reach $170b by 2030
70% of global losses between 2016 and 2023 from natural disasters are uninsured.
APAC’s affluent move $700b to digital wealth management
These firms are adopting hybrid models that combine digital tools with limited human assistance.
Asia grapples with pension system strain as population ages
Emerging markets face a pension savings shortfall of $74t.
Insurers adapt to serve Hong Kong, Singapore family offices
UHNW and HNW families are expected to reach $5.8t in wealth by 2030.
Asia faces $74t retirement income shortfall
Emerging markets in Asia face a $74 trillion pension savings shortfall.
APAC insurance risk officers confront these 3 top concerns head-on
Discover how 2 insurance leaders tackle conduct risk, cybersecurity, and business model evolution.
McKinsey highlights critical insurance strategies for 2024
Chief risk officers at a roundtable stressed the importance of capital management.
Insurers and private capital firms strengthen ties
Private-capital-backed insurers have gathered nearly $700b in assets through 2023.
Insurers face customer churn as prices rise in select products
Experts pin 3 ways to adapt to a more ‘demanding’ customer base.
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Commentary
AI isn’t replacing insurance, it’s finally making it work