Growth top concern for insurer CEOs: Munich Re survey

A poll of 76 insurer senior executives by Munich Reinsurance America Inc. shows that keeping and increasing business is the number one issue facing property and casualty insurance companies.

Almost half of the respondents (47%) to Munich Re’s CEO Roundtable Survey indicated that maintaining and growing business was their top concern, followed closely by underwriting discipline/price adequacy (45%). Managing cost structures, at 28%, was the third highest priority for senior management (the poll allowed multiple responses; results did not necessarily add up to 100%).

In terms of competitive advantage, 41% of CEOs identified underwriting capability (risk selection and pricing) as their top differentiator, followed by capital position (40%) and claims processing/management (37%).

A majority of CEOs (47%) singled out information technology capabilities as the most important area that companies need to improve.