What’s next for Japanese insurers: Ten imperatives for 2023

2023-03-08

According to PwC’s 26th Annual Global CEO Survey, despite overall pessimism about global economic growth in 2023, Asia Pacific CEOs are more optimistic about growth in the region. They see upskilling, automation, digital and cloud transformation, rebalancing supply chains and decarbonisation as their top investment priorities. The Japanese economy and financial service industry are also at a crossroads as Japan’s central bank, the Bank of Japan (BOJ) considers inflation and monetary policies. Despite the underlying uncertainties, Japanese insurers must continue their transformation in order to remain competitive and grow globally. In this article we describe ten imperatives for Japanese insurers in 2023 as they try to transform themselves while navigating the challenges of today.