Welcome to our EY outlook for Insurance in Ireland in 2018. Here, we examine some of the big themes that will shape our conversations in the coming year.
The Central Bank of Ireland has recently published its first set of results and initial analysis of the new statistical dataset. These statistics portray a robust and diverse industry represented by €303 billion of total assets, including over 200 head office undertakings together with 41 domestic branches. This deeply embedded industry is poised for growth and transformation and in this overview we look to explore the detail of some of those themes.
Whereas social and economic factors support continued optimism in the demand for insurance propositions, the increasing scope, scale and pace of change experienced by insurers continues to place pressure on insurance company executives to prepare for a very different future.
As an executive summary, however, these are the immediate priorities we see in Ireland over the next 12 months:
In this publication, we’ll be introducing our Insurance team in Dublin and giving you our thoughts on the big topics on the horizon for 2018, from regulatory changes to digital transformation.