Life insurers aiming to increase automation in next five years

Willis Tower Watson finds

John Brazier
clock • 1 min read

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes



Already a Professional Adviser member?


More on Life Insurance

Jiten Varsani: The true value of the life insurance adviser

'It becomes the duty of a good and experienced adviser to help educate the client'

Jiten Varsani
clock 30 June 2021 • 3 min read

Woman sentenced for fraudulent life insurance claim

Two years imprisonment suspended for two years

John Brazier
clock 16 March 2021 • 2 min read

Pandemic fears reboot interest in dwindling life insurance market - adviser's research

Sales down 26% in last five years

Jenna Brown
clock 15 July 2020 • 2 min read