Research
01 Dec 2022
2023 Irish Insurance Outlook
A year of challenge and opportunity for the insurance industry
Most Irish insurers have shown remarkable adaptation and resilience amid the turbulence of the last two years. But is the industry ready for emerging challenges heading into 2023 and beyond?
Our 2023 Irish Insurance Outlook dives into the core areas carriers can control in the next year and beyond, including issues of sustainability, digitalization, and regulation. In our report, we also explore why Irish organisations should maintain a culture of innovation while making customer-centricity the focal point of their standard operating model.
Key takeaways from our 2023 Insurance Outlook:
Talent
The future talent conversation we expect will likely be about shifting mindsets and company culture, not only to be able to attract and absorb new talent and skillsets, but to retain employees by offering an irresistible work environment for satisfying long-term careers.
Sustainability
In an increasingly socially conscious marketplace, factors affecting insurers’ reputations and competitive positions include the diversification of their leadership and workforce; enhancing the inclusivity of their products and services; and increasing the transparency and accountability of their governance structures.
Finance
Insurers should have most, if not all, the elements required for IFRS 17 compliance in place by now. Insurers will therefore now need to focus on having the data required to address questions about the execution and impact of these accounting changes from regulators and other stakeholders.
Contact us
We hope our 2023 Irish insurance outlook is of benefit to you as we enter into this year ahead. To view our full range of services, or if you have any queries, meet in the full insurance team here.
Read our 2023 Irish Financial Services Outlooks:
