New industry survey shows life insurance providers are targeting greater adoption of automated processes by 2026.
The Actuarial Reporting Automation survey from broker Willis Tower Watson found that the majority of life insurers queried are currently using ‘no automation' or ‘some automation'. According to the survey, the life industry aspires to deploy ‘some' or ‘strong' automation over the next five years with assumptions, audit trail and results production the top three core areas of the valuation process where they will focus. The aim of adopting greater automation is for life insurers to improve the efficiency and auditability of their processes and close the gap between their current use of...
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