The situation surrounding the insurance industry is significantly changing, with the market reaching maturity, new players such as foreign companies and online businesses entering the market, the premium liberalization leading to price-slashing, and acquisition of new policyholders falling due to the declining birthrate and aging population, especially in developed countries. Under the circumstances in which high-yield fund management can hardly be expected in Japan and the income from real estate has plateaued, insurance companies are facing the need to fundamentally reconsider their management to increase their chances of survival. In order to enhance their economies of scale, it is particularly important to focus on bolstering the capital strength and enhancing risk management, with an eye to overseas expansion, especially into growing markets in Asia. Companies with cost-consuming and inflexible legacy systems have no chance against major insurance groups of the world that are diversifying risks by multinational operations. Transformation to a low-cost structure supported by efficient IT systems and decisive development of new products are urgently needed.
ABeam Consulting, by utilizing its prolific consulting experience and extensive knowledge involving both Japanese and overseas insurance companies, offers various types of support to solve the challenges facing insurance companies, such as expanding their scale, improving profitability and refining their risk management. In particular, ABeam leverages its strength, which comes from its wealth of consultants with actual experience in the insurance industry, in its support of enhancing risk management in general insurance operations ("Insurance Business Risk Advisory").