Cybercrime tops insurance performance threats at 83% alongside AI readiness and talent

trends negatively impacting insurance

Key views of trends negatively impacting insurance organisation’s performance:

  • KPMG’s Insurance CEO Outlook surveyed 110 insurance CEOs across 11 markets, all leading organisations with revenues above $500m
  • Cybercrime tops the list of threats to organisational performance at 83%, with three of the five concerns directly linked to AI
  • Data reveals an industry navigating the dual pressure of accelerating AI adoption while managing the risks that come with it

KPMG’s Insurance CEO Outlook surveyed 110 insurance CEOs across 11 markets, all leading organisations with revenues above $500m

KPMG’s Insurance CEO Outlook draws on responses from 110 insurance CEOs surveyed as part of KPMG’s broader annual CEO Outlook study.

All respondents lead organisations with annual revenues exceeding $500m, with a third overseeing companies generating more than $10bn.

The report spans 11 markets including the UK, US, Germany, France, Japan, China, India and Australia, covering life, auto, home, property and casualty, health, reinsurance and broker organisations.

Among the questions put to respondents was which trends they considered to be most negatively impacting their organisation’s performance.

Cybercrime tops the list of threats to organisational performance at 83%, with three of the five concerns directly linked to AI

The results paint a striking picture of an industry under pressure from several converging forces.

Cybercrime and cyber insecurity ranked as the most cited concern by a considerable margin, identified by 83% of respondents.

AI workforce readiness and the upskilling of staff on AI followed at 77%, with competition for AI talent close behind at 75%.

Successful integration of AI into business processes was cited by 73% of CEOs, while the cost of technology infrastructure rounded out the top five at 65%.

Data reveals an industry navigating the dual pressure of accelerating AI adoption while managing the risks that come with it

What stands out most is how thoroughly AI has come to define the threat landscape for insurance CEOs, occupying three of the five positions in the rankings.

The concern is not simply about adopting AI but about doing so at the pace and scale the market demands, with the right people and the right infrastructure in place.

Cyber risk sits at the top for good reason. Insurers hold vast quantities of sensitive customer data, and the same transformation programmes designed to modernise the business can simultaneously open new vulnerabilities to attack.

The irony is not lost on the sector: the very technologies driving growth are also generating some of its most significant risks.

For CEOs, managing that tension is fast becoming one of the defining leadership challenges of the decade.

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