The rough economy notwithstanding, a number of insurers in the United States are considering launching new products this year, says a new study.
The same is true for large international insurance companies, says Catherine Stagg-Macey, senior insurance analyst at Celent, London, and coauthor of Celent’s Q2 Insurance Industry Expectations and Strategies.
The online survey reflects views of over 270 executives representing insurers and vendors from around the world. It was conducted in April and July.
The respondents may be pessimistic about the broader economy, but “they are nevertheless bullish on their own companies’ strategies,” the researchers note.
When asked about types of strategic responses companies are making to the crisis, 62% of North American insurer respondents said launching new products is already underway or completed.
54% said the same thing about launching a new channel.