Findings: Short-term insurance continues to envy the long-term insurance industry 2015 KPMG Insurance Survey
06 August 2015
The 2015 edition of the annual KPMG Insurance Survey has revealed that the short-term insurance industry’s performance remains under pressure continuing the trend for the third consecutive year. Resultantly, the saturated markets have forced insurers to seek alternative avenues to improve results. This was mainly done through efficiencies with claims handling processes, rate increases in excess of consumer price index inflation, offloading of unprofitable business and a renewed focus on commercial lines of business. These corrective actions have improved profitability in the second part of 2014 calendar year which has continued into 2015.