World Report Series 2025

Life Insurance

Bridge the customer experience divide

Ensure life insurance relevancy through relentless
customer centricity
2 World Life Insurance Report 2025

Contents

Foreword 3

Executive roundtable participants 4

Executive summary 5

The great CX divide: A threat to

long-term industry viability 6

The path to customer centricity:

Intelligent and streamlined processes 14

Orchestrating transformation: Enhance data

and deploy Gen AI for experience innovation 22

Conclusion 27

Methodology 28

Partner with Capgemini 29

 World Life Insurance Report 2025 3

Foreword
Today’s life insurers find themselves in an environment filled with challenges they’ve
never faced before. Our World Life Insurance Report 2025 suggests how life insurers
can make innovative choices today to drive customer centricity in the future in ways
that will resonate with key customer segments even as demographics shift. The key is to
offer adaptability, flexibility in coverage, and an array of personalized policy types and
engagement channels.
Our report shares strategies to counter the shift of modern life insurance from a
must-have purchase to a maybe proposition. Carriers can pivot from standard death
benefits to financial advice and wellness solutions that are more relevant to the needs of
current and first-time policyholders and will help insurers retain and increase wallet share.
Our primary research determined that only five percent of carriers globally can
be considered best-in-class life insurers that consistently deliver outstanding and
personalized customer experiences via unified customer views. This top tier is also notable
for providing lifetime customer value, automated underwriting, tech-enabled policyholder
conveniences, streamlined claim processes, empathetic engagement, and flexible payout
options.
Based on our findings, we created a blueprint to support carriers navigating legacy tech
infrastructure and processes to prioritize customer-centricity and customer-first cultures.
This blueprint guides life insurers in implementing an efficient, seamless, and
customer-centric transformation strategy that benefits policyholders, agents, and staff.
Our report recommends infusing intelligence into core processes to boost customer
satisfaction and increase operational efficiency.
Effective transformation strategies address multiple business dimensions, from advanced
technology to new talent and partnerships. While the path ahead won’t be easy, success
stories from best-in-class life insurers demonstrate that transformation success is within
reach. These strategies create value for policyholders and boost carriers’ bottom lines.
I encourage you to leverage our blueprint and the report’s numerous use cases in your
strategic discussions.

Ravinder Khokhar
Financial Services - Global Head of Cloud
Capgemini
 4 World Life Insurance Report 2025

Executive roundtable participants

Fifteen top executives from insurance firms, InsurTechs, and technology leaders across the globe joined two
roundtable discussions in preparation for our third edition of the World Life Insurance Report. Their world insights
energized our research program, from generating hypotheses to validating our findings, identifying best practices,
and recommending specific actions for improved outcomes. We are grateful for their time, experience, and vision.

Insurance and InsurTech Firms

Giancarlo Bosser Izu Atsushi Antonio Santillo Diana Steinhoff

Chief Life Officer Head of Innovation Planning VP, Client Experience President and CEO
Generali Italy Group, Head of Global Dai-ichi and Innovation Renaissance
Innovation Lab Northwestern Mutual
Dai-ichi Life Holdings

Lorenzo Ball Jr Sam Fromson Hans-Erik Lind Pankaj Gupta

Chief Data Officer Co-founder and COO CEO MD & CEO
Mutual of Omaha YuLife Nordea Life and Pension Pramerica Life
Insurance

Benny De Wyngaert Bruno Alves do Nascimento

Managing Director Bank Director of Strategy and Technology
Channel & Life Development BB Seguros
AG Insurance

Technology Leaders and Industry Influencers

Patrice Amann Rory Yates Lisa Wardlaw Juan Mazzini Chad Hersh
EMEA Insurance Chief Strategy President and Founder Director of Insurance Head of Worldwide
Business Lead Officer 360 Digital Immersion Practice for APAC, Market Development,
Microsoft EIS EMEA, & LATAM Life Insurance Industry
Celent AWS
 World Life Insurance Report 2025 5

Executive summary
Against high inflation and macroeconomic • Empowering customers while boosting staff
uncertainty, today’s consumers are only mildly productivity by enhancing self-service with
interested in traditional life insurance products. AI-powered tools and intelligent platforms to tackle
Rising interest rates benefited insurers’ recent the 25% of customers frustrated by long wait times
financial performance, but short-term gains cannot for support
conceal the longer-term impact of sluggish growth.
• Creating value during moments of truth by enabling
Our World Life Insurance Report 2025 identifies empathetic and intelligent claims experiences to
industry challenges and outlines proven resolve the concerns of 37% of customers who lack
transformation strategies to boost customer clarity on claims status.
satisfaction, increase operational efficiency, and
By addressing these pain points, insurers can
fuel robust profits. Practices from best-in-class life
significantly improve customer satisfaction, loyalty,
insurers offer ways to seize growth opportunities
and lifetime value.
by enriching customer experience (CX) through the
adoption of generative artificial intelligence (Gen AI).
Orchestrating transformation:
The great CX divide: A threat to Enhance data and deploy Gen AI for
long-term industry viability experience innovation
Between 2007 and 2023, life insurance penetration Our primary research suggests that only 5% of
in mature markets dropped from 5.4% to 3.6%, life insurers deliver a best-in-class CX. These firms
prompting many carriers to rethink their customer demonstrate how investments in core processes,
engagement approach. However, outdated legacy upgraded technology, and new talent strategies lead
systems, limited adoption of emerging technologies, to 38% higher Net Promoter Scores® (NPS), an 11%
cost-oriented cultures, and ongoing regulatory lower expense ratio than mainstream life insurers,
scrutiny have hindered transformation. In addition, and 6% higher growth than the industry.
the low success rate of transformational initiatives The key is orchestrating transformation initiatives
(41%) perpetuated a cycle of underperformance and around two strategic priorities:
outdated practices.
• Deploying advanced technology to modernize
With today’s technologies – including Gen legacy systems, streamline data management, and
AI – insurers can navigate these challenges, drive enable Gen AI.
experience innovation, create a future-ready
workforce, and transcend long-time performance • Cultivating talent and partnerships to drive
constraints. customer-centric cultures and increase efficiency
across the value chain.
The path to customer centricity: The most successful transformations involve smart
and purposeful customer journeys that build trust,
Intelligent and streamlined demonstrate long-term commitment, and maximize
processes customer lifetime value through a powerful
To convert CX from a competitive liability into combination of AI-augmented human interactions
a strategic advantage, insurers can refocus and operational efficiency. The growth potential is
on customer-centric strategies across pivotal significant. Now is the time to restore the relevance
touchpoints by: of life insurance.

• Laying the foundation for stronger customer

relationships by optimizing onboarding across
third-party and proprietary channels to address the
37% of customers who struggle with complex terms
and unclear benefits
 6 World Life Insurance Report 2025

The great CX divide:

A threat to long-term
industry viability
 World Life Insurance Report 2025 7

Customer experience has been a business flat for the past 16 years (-0.2%), with
mantra for decades. Corporations across penetration declining from 5.4% in 2007
industries have invested significantly to to 3.6% in 2023 (Figure 1).1
understand customers more intimately
Customers are voting with their wallets:
and offer more satisfying experiences.
life insurance's share of all consumers’
Firms that successfully transform their
assets has declined from 7.5% to 5.8%,
CX typically generate higher customer
while equities increased from 15.9% to
satisfaction and loyalty, produce more
23.4%.2 However, the trends vary across
repeat revenue, and run more efficient
markets; in some regions, unit-linked
operations. Some leaders have converted
insurance products have gained significant
deep customer centricity into high-value
traction during the prolonged low interest
brands and market dominance. Few, if any,
rate environment. This trend underscores
of them are in the life insurance industry.
a broader demand for simple, flexible
“The life insurance industry has historically solutions that offer transparency and
treated CX as a vertical, siloed approach, potential short-term gains while still
focusing on digitizing individual providing an element of risk coverage.
touchpoints as isolated experiences,” said
Lisa Wardlaw, the president and founder Shrinking penetration and decreasing
of 360 Digital Immersion, USA. “Instead, customer interest explain the life insurance
it should adopt a latitudinally integrated industry’s waning appeal to investors.
strategy considering the customer's entire Relative to other financial services firms,
policy lifecycle, viewing CX as a long-term life insurers’ market capitalization fell
journey encompassing changing customer from 15% in 2007 to 9% in 2023, with asset
needs from onboarding to claims.” managers and securities brokers receiving
most of the redirected investment.3
Where is the industry While current consumer trends are not
heading? encouraging, they do signal opportunities.
Helping policyholders reach financial
The experience of the last several years stability will allow insurers to regain wallet
suggests that the life insurance industry share and restore relevance. Elevating the
may be sliding toward irrelevance, meriting life insurer’s role in customers’ lives will
concerted action on multiple fronts. require insurers to swiftly and nimbly adapt
Despite the recent rebound in financial to fast-evolving market needs.
performance, mainly due to higher interest
rates, growth in mature markets has been

Figure 1. Life insurance penetration rates have declined across mature markets

Life insurance penetration rates in mature markets1, %

6.5%

5.4% 5.6% APAC

4.0% Western Europe

3.5% 3.6% Global
2.7% North America

2007 2023

Source: Swiss Re - sigma explorer.

Note: Mature markets: APAC includes Australia, Hong Kong, Japan, New Zealand, Singapore, South Korea and
Taiwan. North America includes Canada and United States. Western Europe includes Austria, Belgium, Cyprus,
Denmark, Finland, France, Germany, Greece, Italy, Luxembourg, Malta, Netherlands, Norway, Portugal, Spain,
Switzerland and Sweden. .
 8 World Life Insurance Report 2025

The state of the life insurance

customer experience
By amplifying digital capabilities How did we get here? We believe that
and embedding flexibility into products, sub-par customer experiences are the root
life insurers can seamlessly adapt to cause of the industry's challenges. We also
evolving policyholder expectations while believe that an enhanced CX is the heart
elevating their role in customers' financial of the solution. Of the policyholders we
surveyed, 59% said they were dissatisfied
wellness journeys.”
with policy pricing. It wasn’t the cost of
Daisy Tsang premiums that sparked dissatisfaction but
CEO, HSBC Life, Hong Kong & Macau.
the lack of visibility into the how and why
of policy pricing. Specifically, the top three
reasons for policyholder dissatisfaction
What consumers need now were (1) a lack of transparency in premium
Life insurers have an opportunity to calculations, (2) the impact of lifestyle
prioritize engaging and customer-centric choices on the rates they pay, and (3)
experiences to help policyholders achieve hidden fees.
long-term financial security and peace of
However, this dissatisfaction extends
mind. Today, 54% of US households have
beyond pricing and permeates the entire
no retirement account savings.4 In Europe,
customer journey. Approximately half of
39% are not saving for retirement through
the policyholders we interviewed reported
a voluntary pension.5 The cost-of-living
underwhelming experiences relative to product
crisis makes matters worse. According to
offerings (51%), onboarding processes (51%),
Capgemini’s World Retail Banking Report
service (48%), and claims/surrenders (55%).
2024, 72% of consumers said high inflation
has significantly impacted their financial Despite customers’ struggles to save for
well-being. the future and their implicit need for more
flexible insurance options, they say policies
Many older individuals, once steadfast in
remain rigid, complex, and confusing. They
financial planning, have delayed retirement
find the value of life insurance to be opaque
to maintain their lifestyle. For others, multi-
and complex to quantify over decades-long
stage retirement is an economic need, not
commitments. These factors contribute
a choice. Meanwhile, more than half of

59%
to suboptimal customer experiences. They
younger consumers – 52% of US consumers
also represent missed opportunities for
28 to 43 years old – say they don’t have
insurers to strengthen engagement and
enough income to save for the future.6 of current
for policyholders to increase their financial
Life insurance customers struggle to well-being. life insurance
customers are
prioritize future financial planning dissatisfied with
and wealth preservation. Currently, policy pricing
policyholders direct only 8% of surplus
funds toward increasing life insurance Life insurers that recalibrate their
coverage, according to our 2024 Global
focus can enhance policyholders' core
Voice of the Customer survey, a study of
6,186 customers in 18 global markets. These experience. Instead of unnecessary
findings make clear that life insurance add-on features, we should consider
has gone from a must-have to a maybe streamlining the basics to meet core
purchase for individuals across generations. customer needs, fostering trust and
loyalty.”

Diana Steinhoff
President and CEO, Renaissance, USA
 World Life Insurance Report 2025 9

Rob Schaffer, the head of product solutions, Complex and intensifying regulation is yet
individual life insurance at Prudential Financial, another impediment, according to Mutual
USA said, “Life insurers are tasked with catering of Omaha’s Chief Data Officer, Lorenzo Ball
to a triad of stakeholders: advisors, customers, Jr. “Regulatory limits on what can be fully
and employees. The challenge lies in balancing automated make intelligent automation
their diverse expectations while overcoming crucial. Insurers can focus on human
legacy technology constraints to consistently augmentation to streamline back-office
deliver superior CX.” operations and improve customer service
interactions,” he said.
The high cost of not Outdated technology and limited digital
upgrading legacy systems options create hurdles for customers at
touchpoints with insurers, which results

52%
Life insurers are aware of heightened in excessive paperwork, lengthy wait
consumer expectations. Yet, most find times, confusing communication, and
themselves shackled by significant slow, unclear processes for filing claims
of insurers say internal constraints that make it difficult and surrendering policies. Customers find
legacy technology to upgrade the experiences they offer interactions with insurers less efficient,
is a significant customers. Similar barriers have also limited
hurdle convenient, and personalized than in other
returns on past transformation investments. industries.
Legacy technology remains a significant However, not all friction is negative. At
hurdle for 52% of insurers, according to our critical stages, customers may benefit
2024 Global Insurance Executives survey, from processes that provide more time
which included 213 global life insurance to work through decisions with long-
executives in 16 markets. Existing term implications and feel confident
infrastructure, which may be several about them. Positive friction of this type
decades old, offers little connectivity for is particularly valuable in life insurance
data sharing. It was designed to record as it helps customers fully grasp policy
transactions, not engage customers or terms and benefits. Balancing efficiency
connect with partners, and as a result with appropriate deliberation time can
cannot effectively support superior strengthen customer trust, increase
customer experience. Limited adoption knowledge, and boost overall satisfaction.
of advanced technologies – another
byproduct of legacy systems’ rigidity –
further stifles insurers’ ability to deliver an
exceptional CX.
 10 World Life Insurance Report 2025

The path to customer a single source of truth that is continuously

updated and accessible by all relevant
centricity functions and users.
For life insurers seeking to prioritize • Not many insurers have integrated
policyholder needs and their CX, revamping ecosystems (Level 3) that capture data
core processes – particularly onboarding, from multiple sources and deliver
servicing, and claims – is crucial. Our seamless, personalized experiences
research shows where insurers are on their through policyholders’ preferred
journeys (Figure 2). channels. Such ecosystems automate
• Most insurers have achieved point third-party data streams for
automation within business processes evidence-gathering during onboarding,
(Level 1) by digitizing specific tasks in underwriting, and claims while navigating
existing workflows. For example, optical a complex regulatory landscape. Wearable
character recognition can automate data devices can deliver real-time data for
entry, and digital forms can replace dynamic underwriting and wellness
paper-based policy applications. tracking, while sophisticated application
programming interfaces (APIs) enable
• Fewer insurers have redesigned processes
secure connections and robust
across the enterprise (Level 2) to connect
collaboration with ecosystem partners.
the entire organization. Fully integrated
customer relationship management (CRM)
systems offer unified views of interactions
and activities across all touchpoints,
allowing better coordination between
sales, service, and claims. Centralized data
management breaks down silos and creates

Figure 2. Life insurers struggle to redesign onboarding, servicing, and claims/surrenders

Level of redesign executed, %

Onboarding 71% 17% 12%

Servicing 65% 26% 9%

Claims/surrenders 68% 25% 7%

Level 1 – Point automation of business processes

Level 2 – Enterprise-wide process redesign
Level 3 – Ecosystem integration

Source: Capgemini Research Institute for Financial Services analysis, 2024; World Life Insurance Report Executive
interviews 2024 (N=213).
 World Life Insurance Report 2025 11

Previous transformation
challenges
Insurers lacked genuine customer
Past transformation investments have
generally fallen short of delivering the
experience-focused transformation
target returns. “Insurers now have a efforts in the past. They were caught up
valuable opportunity to learn from past focusing on outdated business models
transformation initiatives,” said Pankaj centered on products and operational
Gupta, the managing director and CEO efficiencies rather than addressing
of India’s Pramerica Life Insurance. “By customers' needs. It's time to prioritize
setting realistic timelines, addressing and invest in initiatives that deliver
integration complexities, and leveraging superior customer experiences.”
skilled resources, we can achieve
successful execution and sustained Rory Yates
momentum, ultimately enhancing customer Chief Strategy Officer, EIS, UK
experiences.”
To hedge against overcommitment and

41%
Competing goals are common pitfalls.
drive successful transformation, insurers
Only When operational excellence is the main
can shift from product-centric to
of life insurers objective, customer experience and
customer-centric approaches. This action
met or exceeded innovation often take a backseat (Figure 3).
their latest
involves prioritizing initiatives that enhance
transformation customer experiences, setting realistic
Technical and talent challenges hindered
goals timelines for integration complexities,
past transformation initiatives, including:
leveraging skilled resources in insurance
• Unexpected integration complexities and technology, and continuously gathering
(50%) and incorporating data and customer
• Lack of alignment with business feedback.
objectives (42%)
• Insufficient skilled resources (42%).

Figure 3. Life insurers prioritized multiple goals in past transformations

Top objectives of past transformation initiatives, %

Enhance operational efficiency 67%

Enhance customer experience 43%

Enable new business models 39%

Life insurers

Source: Capgemini Research Institute for Financial Services analysis, 2024; World Life Insurance Report Executive
interviews 2024 (N=213).
 12 World Life Insurance Report 2025

Such a strategy enables insurers to approach increases the odds of success,

address evolving consumer needs while as illustrated in the following case study
learning from past transformation in which a Europe-based global multi-line
efforts and overcoming traditional carrier expanded its embedded insurance
operational challenges. A focused business by enabling consumers to buy
strategy and technology development coverage at the point of sale.

A strong digital platform unlocks to monitor implementation progress. After

assessing the technical architecture, the team
growth and boosts CX for the developed a robust product and API strategy
embedded era to facilitate seamless integration with retail
partners. A secure, cloud-native platform enabled
interoperability with diverse retailers. After
Business challenge
successfully launching in one market, the insurer
A leading global insurer recognized the need to
is rolling out the solution in multiple countries
expand its presence in embedded channels across
through various retail channels.
the Asia-Pacific region. The objective was to make
it easy and intuitive for customers to purchase
Business results
insurance products through preferred retail
The insurer built infrastructure to expand
channels. The insurer sought to improve customer
its customer base and realize its ambitions
experience to drive sales and establish a robust
for embedded insurance. The robust digital
digital platform and flexible operating model
platform means consumers can efficiently and
to support embedded insurance sales across
conveniently protect their experiences. Thanks to
multiple markets.
the platform's scalable design and a framework
for rapidly onboarding new retail partners, the
Business strategy/implementation
insurer is well-positioned to scale its embedded
The insurer partnered with Capgemini to shape
offerings through more channels and markets.
the vision, define the venture strategy, design a
target operating model, and create a mechanism
 World Life Insurance Report 2025 13

The promise of Gen AI talent constraints, a critical consideration

given that upcoming retirements and
Insurers have struggled with strategic, an aging employee base will exacerbate
technological, and product-related issues future talent needs. With the right skills and
for at least a decade – with only slight capabilities, insurers can enable customer-
improvement. Now is the time to consider centric profitability by bolstering workforce
a fresh approach to transformation. Gen AI productivity through AI augmentation.
can be a catalyst for solving insurers' most
significant challenges – high costs, low customer The opportunity for life insurers and the
satisfaction, and a considerable talent gap. necessary steps to prepare for broader Gen
AI deployment are clear. Insurers can unlock
Our research shows that primary adopters immediate business results by:
of Gen AI (defined as the top four buyers
of Nvidia H100 chips in 2023) achieved 15 • Enhancing system connectivity by
percent gross profit growth in 2022–2023 while implementing a cloud-based centralized
maintaining high customer satisfaction.7 It is data hub for seamless integration
noteworthy that these Gen AI adopters grew • Strengthening data capabilities by
profits while reducing headcount. Increased investing in data management tools and
growth and customer satisfaction have upskilling teams in data science and prompt
historically required significant workforce engineering
expansions. However, Gen AI pioneers are
lighting a new path, where one (admittedly • Deploying advanced encryption and
expensive) AI-skilled individual can produce access controls to protect sensitive
deliverables equal to multiple employees information
working in operations or customer experience • Implementing a robust governance
enhancement. system to establish clear AI policies, ethical
This paradigm shift shows how life insurers guidelines, and data security protocols.
can address long-standing CX challenges by
innovating with leading-edge technology
and building a future-focused workforce.
Specifically, Gen AI can help insurers address
 14 World Life Insurance Report 2025

The path to customer

centricity: Intelligent and
streamlined processes
 World Life Insurance Report 2025 15

In a sector where customers perceive the Drawing inspiration from best-in-class life
product as a commodity and seek value insurers,* Capgemini crafted a blueprint to
through financial security and peace guide carriers through a transformation
of mind, life insurers are strategically journey that infuses intelligence into core
compelled to elevate customer experience processes to bolster customer satisfaction,
to gain a competitive advantage. The operational efficiency, and sustainability.
way forward is a customer-centric Advanced technologies, new talent,
transformation that merges AI-augmented, and strong partnerships are essential to
human-touch service with disciplined, bottom-line performance and positioning
automated, and efficient operations across for future profitability (Figure 4).
the enterprise.
The framework highlights three focal areas
to maximize customer lifetime value:
• Optimize onboarding through data-driven
A twofold approach to operational distribution and swift risk assessment.
strategy allows insurers to streamline
• Enhance self-service based on
low-value tasks and boost customer AI-powered tools for customers and
satisfaction while embracing high-tech, intelligent platforms for agents, brokers,
high-touch fusion for high-value tasks and customer service staff.
like advising, which can empower
• Enable empathetic and intelligent claims
agent-customer relationships.” experiences through copilots.
Giancarlo Bosser “Understanding and meeting customer
Chief Life Officer, Generali Italy, Italy expectations is critical to bridging the CX
gap,” said Izu Atsushi, the Head of Innovation
Planning Group, Head of Global Dai-ichi
Innovation Lab at Dai-ichi Life Holdings, Japan.

Figure 4. The Capgemini blueprint for an efficient, seamless, and customer-centric

transformation

Customer-centric culture Disciplined and efficient operations

Infuse intelligence into core processes

1 Optimize onboarding

2 Enhance self-service

2 Empathetic and intelligent claims

Drive ongoing engagement to maximize customer lifetime value

Reap the business benefits

Enhance customer Improve financial Increase operational
satisfaction performance efficiency

Orchestrate the transformation

Deploy advanced technology Cultivate talent and partnerships

to modernize legacy systems, streamline to drive an efficient customer-centric
data management and enable Gen AI culture across the value chain

Source: Capgemini Research Institute for Financial Services analysis, 2024.

*For the scope of this report, “best-in-class” refers to insurers that lead on CX innovation and demonstrate superior
onboarding, self-service, and claims capabilities. See the next section for details.
 16 World Life Insurance Report 2025

“Data and AI are tools that support our primary Benny De Wyngaert, the managing director

35%
objective, which is to engage meaningfully of bank channel & life development at
with policyholders based on analyzing their AG Insurance, Belgium said, “Customer
real needs and providing transparent, valuable satisfaction hinges on clear communication
products and services. We need to clearly and timely resolution. Insurers that prioritize of retail customers
cite complex
communicate benefits to customers transparent engagement, set expectations, policy terms
to justify premiums and ensure market and promptly answer queries can drive NPS and conditions
competitiveness,” he said. improvements.” as a significant
challenge
Different channels present several
Optimize onboarding through engagement opportunities, noted Bruno
data-driven distribution and Alves do Nascimento, the director of strategy
and technology at BB Seguros in Brazil.
rapid risk assessment “Bancassurance channels offer a wealth data
Onboarding sets the tone for the entire that AI-powered personal assistants can
lifetime relationship. Our research revealed use to tailor policyholder recommendations
many challenges across the onboarding and determine appropriate life-stage
value chain and unique pain points investment opportunities and risk
for different policyholder types, each protection,” he said.
preventing insurers from making a great
As part of our research, insurers cited
first impression (Figure 5).
data-driven distribution tools as their top
The primary CX issues for retail customers priority to create better onboarding processes.
are complex terms, lengthy application The key is to empower agents and brokers with
processes, and slow underwriting times. AI-powered tools. When enhanced with AI,
Group customers struggle with clarity CRM systems can help track interactions,
on benefits and coverage, limited options predict needs, and enable proactive
to enhance their policies, and a lack of outreach. Predictive analytics can identify
communication on enrollment deadlines and cross-selling opportunities and assess risk
policy issuance.

Figure 5. Customers’ top three onboarding challenges

Top three challenges faced, %

Onboarding value chain Retail customers Group customers

Complex terms and Unclear benefits

Needs analysis and 35% 34%
conditions and coverage
pre-boarding activity

Complicated and lengthy

Application submission 27% 25% Limited add-on options
application process
and quote request

Risk assessment 25% Delayed underwriting

and proposal

Lack of communication
Payment and 19%
on enrollment deadlines
issuance

Source: Capgemini Research Institute for Financial Services analysis, 2024; World Life Insurance Report Voice of
the Customer Survey 2024 (N=6186).
 World Life Insurance Report 2025 17

profiles for personalized recommendations. machine learning to automate

AI-enabled financial planning tools can underwriting decisions and expedite
offer real-time product comparisons, processing
suggest optimal coverage, and visualize
• Enhancing group insurance onboarding
long-term scenarios, helping customers
by integrating with HR communications
understand their options and make more
and systems.
confident decisions. These technologies
analyze customer data to provide intelligent These actions can enhance CX by reducing
recommendations, enhancing agents' ability unnecessary touchpoints for retail and
to offer personalized, value-added services group customers, and by streamlining
and strengthening client relationships. onboarding and offboarding experiences
for group customers. They can also result
Insurers that get the most out of such tools:
in higher customer satisfaction and
• Incentivize customer data sharing retention for all customers. Increased
through personalized financial wellness operational efficiency through higher
solutions throughput rates and lower underwriting
costs will improve financial performance.
• Integrate data sources to empower
agents and brokers with AI-driven The following use case from Crédit
recommendations Agricole Assurances illustrates how a
customer-centric strategic transformation
• Deploy intelligent chatbots to enhance
led to superior customer experiences and
transparency by clarifying policy terms.
improved conversion rates.

Earning and maintaining customer

trust has to be a top priority, including
during the onboarding process. A
seamless onboarding experience needs
to include regular communication with
customers to answer their questions and
keep them engaged. This builds trust
at the entry point, and can increase
retention and loyalty"

Antonio Santillo
VP, Client Experience and Innovation,
Northwestern Mutual, USA

The second priority identified in our survey

includes swift risk assessment and instant
policy issuance. Clear opportunities exist
to transform lengthy and occasionally
painful processes into seamless,
value-adding touchpoints.
Insurers can prioritize initiatives based
on their unique product portfolios and
customer segments. Key steps include:
• Making application submissions smarter
and faster by using Gen AI to pre-fill
forms and suggest appropriate coverage
• Streamlining policy issuance and
payments for low-risk cases by applying
 18 World Life Insurance Report 2025

A French insurance • Put the customer and advisor at the center of

the experience design process
groundbreaker’s customer-centric
• Challenge underlying processes and product
transformation sparks superior features to simplify and enhance the user
CX and quantifiable benefits for experience
policyholders and branch advisors • Leverage customer data to personalize journeys
at critical touchpoints
Business challenge
France’s insurance and bancassurance leader, • Think “omnichannel by design” to enable a
Crédit Agricole Assurances (CAA), offers life and seamless cross-channel experience for all users
P&C protection, as well as savings, retirement, and • Consistently monitor conversion performance
wealth management solutions. CAA distributes from day one
insurance products in nine EU countries
• Deploy agility at scale
In mid-2023, the firm sought to strengthen
its savings and retirement position by setting • Rationalize the number of applications used to
new digital onboarding and contract servicing simplify CAA’s IT architecture.
standards. The goal was to create superior
experiences for policyholders and branch advisors Business results
by modernizing and rationalizing the organization’s CAA celebrated its first milestone in early 2024 by
underlying technology platform. launching the revamped mobile self-care journey
for life insurance top-ups. By designing a superior
Business strategy/implementation omnichannel customer experience, empowering
CAA shaped a three-year transformation blueprint, branch advisors, and relentlessly monitoring
with support from Capgemini, to revamp all conversion performance, Crédit Agricole
life and retirement contract underwriting and Assurances said the conversion rate of this journey
servicing digital journeys. The collaborative team was more than doubled. In light of early success,
built the transformational initiative – Customer & CAA plans three more digital experience journeys
Advisor Savings Digital Experience – based on seven in the second half of 2024.
guiding principles:

By designing a superior omnichannel customer experience, empowering branch advisors, and

relentlessly monitoring conversion performance, we were able to more than double the conversion rate of
the life-insurance top-up self-care journey."

Eric Féron
Deputy CEO & Chief Transformation Officer, Crédit Agricole Assurances, France
 World Life Insurance Report 2025 19

AI-powered tools and A significant proportion of insurers seek

to bridge the self-service gap. In our
intelligent platforms can Executive Survey, 44% of respondents
enhance self-service options said they would prioritize intelligent agent
Our research confirms that retail customers deployment and staff augmentation
are frustrated by long wait times, the lack platforms such as AI-augmented
of self-service options for making policy workbenches and workforce copilots to
changes, and slow processing times for reduce agents’ administrative task time and
service requests. Group customers also assist staff during customer interactions.
express disappointment regarding issue UK-based Aviva deployed an AI-driven
resolution (Figure 6). These challenges stem call center solution to identify vulnerable
from a lack of self-service portal capabilities customers for tailored support. Using
and limited support channels, a specific vulnerability criteria from the UK Financial
pain point for group customers. Conduct Authority, the solution from Verint
Speech Analytics detects dissatisfaction (via
metrics such as repeated calls) and reroutes
vulnerable customers for special assistance.
Transparency in customer The solution’s 97% accuracy rate has helped
interactions is essential, particularly to improve service quality, according to
Aviva.8
within critical processes. Self-service
options and progress-tracking visibility Robust IT infrastructure and centralized
can enhance the CX and reduce customer CRM systems are necessary to integrate
service burdens.” customer data and deliver personalized
recommendations. One Fortune 100
Hans-Erik Lind insurer laid the foundation for superior CX
CEO, Nordea Life and Pension, Norway and improved self-service capabilities by
integrating siloed data to create unified
customer views.

Figure 6. Customers’ top three service challenges

Top three challenges faced, %

Servicing value chain Retail customers Group customers

Long wait times to speak Long wait times to speak

Policy access 22% 32%
(through human agent or with customer support with customer support
digital platforms)

Inability to self-service Inability to self-service

Request and 20% 28%
policy changes policy changes
document submission

Slow processing for service

Request processing 21%
and renewal
and execution

Closure and 12% Unsatisfactory resolution

communication

Source: Capgemini Research Institute for Financial Services analysis, 2024; World Life Insurance Report Voice of
the Customer Survey 2024 (N=6186).
 20 World Life Insurance Report 2025

Fortune 100 insurer unifies data management system to create a unified

customer view across the enterprise to effectively
data silos to boost operational manage over 45 million policies for individual life,
efficiency and enhance CX annuities, and group benefits.

Business results
Business challenge
The solution delivers a single source of truth for
The insurer has multiple lines of business with
policyholder records, bolstering data trust and
separate data silos that affected time to market
reliability across the enterprise. This 360-degree
and necessitated manual interventions in financial
customer view enabled critical use cases that drive
reporting processes. Archaic technology systems
business through enhanced policyholder service,
and a legacy customer data repository slowed data
cross/upsell opportunities, lapse prevention,
delivery speeds. The insurer sought to integrate
customer segmentation, and targeted marketing.
required systems into business workflows to enable
efficiency and growth use cases.
The insurer said the enterprise data platform
significantly accelerated legacy estate
Business strategy/implementation
modernization, reducing implementation time by
The insurer collaborated with Capgemini to build an
over 40 percent and enabling faster deployment
Enterprise Data platform to modernize legacy data
of domain-based data models for customer and
systems. The initiative encompassed migrating and
finance domains. The 360-degree view for financial
consolidating financial reporting data across three
reporting streamlined month-end processes,
domains – actuarial, investments, and finance for
reducing the time to generate book closing reports
more efficient financial reporting.A domain-based
by more than two days.
data model implementation featured a robust master

Offering AI-driven self-service in the Enable a more empathetic,

channels customers prefer is another
priority for life insurance carriers. Intuitive intelligent, and satisfying
self-service portals can help retail claims experience
customers handle routine tasks and resolve In the critical moment of claims processing,
questions. For group customers, dedicated compassion and efficiency are paramount.
support channels can address numerous However, policyholders say they face
member inquiries with content tailored to complexity, and without human touch, they
their unique benefit packages. have little real-time visibility into the status
The payoff for insurers will come in many of their claims. For group customers, limited
forms, including: flexibility in payouts is another issue (Figure 7).
• Higher customer satisfaction and
These challenges are primarily due to a lack
improved retention rates
of claims digitization. Limited empathy training
• Increased operational efficiency through and incentives for claims representatives
lower service costs, improved agent and exacerbate the situation. Legacy technology
staff productivity, and more effective constraints and siloed data make it difficult
compliance with data regulations. to quickly deduce claims status and
offer alternative payout options, such as
A new digital experience from
converting a claim into a new policy or
Norway-based Storebrand Livsforsikring
executing a partial payment.
AS allows customers to create forecasts
for multiple pension agreements based on AI-enabled copilots can help insurers design
different parameters and initiate secure and operate smarter and more effective
withdrawals. This fully digitized self-service processes. According to our research, the top
solution has achieved high customer claims priority for life insurers is deploying
satisfaction ratings. intelligent platforms for a richer claims
experience, cited by 38 percent of our
survey respondents.
 World Life Insurance Report 2025 21

These platforms can provide: MetLife collaborates with end-of-life

platform provider Empathy to provide
• Easy beneficiary access by offering
concierge services for its group insurance
user-friendly digital portals
beneficiaries, with access to bereavement
• Seamless transition between AI and care services that merge technology
human agents through intelligent routing and human support. The platform offers
based on claim complexity administrative assistance for claims,
resources for self-care, and compassionate
• Automated claim initiation for death
support for beneficiaries and their families.
notifications for group members through
The benefits have included increased
direct integration with employer HR
engagement with beneficiaries and
systems.
stronger employer-employee relationships.9
To address policyholder desire for claims
process empathy, the secondary priority
for insurers is leveraging AI copilots
that combine technical details with
recommendations for empathetic language Leveraging modern,
during beneficiary communication. cloud-based systems to integrate group
Emotional intelligence training featuring policies with employer HR platforms
AI-generated scenarios can help customer gives policyholders access to coverage
service staff demonstrate compassion by details, automates claim submission for
understanding beneficiaries’ perspectives employers, and simplifies insurer data
during duress. retrieval for a seamless stakeholder
A superior claims experience hinges experience.”
on using Gen AI to blend empathy with
efficiency for swift, accurate resolutions. Chad Hersh
Head of Worldwide Market Development,
This transformation enhances satisfaction
Life Insurance Industry, AWS, USA
for beneficiaries and employers while improving
staff productivity and fraud detection.

Figure 7. What frustrates policyholders about the claims experience?

Top three challenges faced, %

Claims value chain Retail customers Group customers

Complicated claim Challenging to access

Claim initiation and 35% 34%
application process Customer support
submission

Verification & additional 27% Lack of empathy

document collection

Lack of clarity on claim Lack of clarity on claim

Communication and 35% 38%
Status and requirements Status and requirements
adjudication

Resolution and payout 35% Limited pay-out flexibility

Source: Capgemini Research Institute for Financial Services analysis, 2024; World Life Insurance Report Voice
of the Customer Survey 2024 (N=6186).
 22 World Life Insurance Report 2025

Orchestrating transformation:
Enhance data and deploy Gen
AI for experience innovation
 World Life Insurance Report 2025 23

Insurers that revamp core systems to • Leverage advanced analytics, Gen AI

transform onboarding, service, and claims capabilities, and risk expertise to
create an opportunity to win customer generate actionable insights to create
minds and wallet share with a superior personalized experiences that resonate
customer experience and a cost-optimized
• Prioritize innovation through data-driven
environment. Best-in-class insurers
distribution and engagement, intelligent
generate policyholder value while boosting
platforms for agents, and advanced
their business bottom line.
technologies.
By focusing on the human dimension
How leaders win with of the business, leaders also promote
superior customer experience empathy, warmth, and authentic
policyholder engagement, particularly
Our research indicates that only five during times of need.
percent of life insurers deliver quantifiably
outstanding CX to achieve best-in-class
status. So, what are these best-in-class
insurers doing differently? Compared
with mainstream insurers, they offer While automation streamlines
exceptional onboarding, self-service, and processes, policyholders often seek
claims capabilities (Figure 8). human empathy in sensitive matters.
How can mainstream insurers develop
Insurers must recognize customer needs
transformational capabilities? and behaviors, weigh the risks of fully
automated engagement, and tailor
• They can cultivate integrated customer technology use accordingly.”
views by unifying data across
touchpoints Juan Mazzini
Director of Insurance Practice for APAC, EMEA, &
• Focus on lifetime value by offering LATAM, Celent
tailored policy upgrades and cross-sell
opportunities

Figure 8. Best-in-class life insurers lead in CX innovation

Optimize onboarding

78% Automated underwriting 15%

78% Data-driven distribution 29%

Enhance self-service
78% Self-service portals 13%

56% Digital portal for policy management for agents 21%

Empathetic and intelligent claims

67% Digital claims submission 7%

56% AI assistance for voice and sentiment analysis 3%

Best-in-class life insurers Mainstream

Source: Capgemini Research Institute for Financial Services analysis, 2024; World Life Insurance Report Executive
interviews 2024 (N=213).
 24 World Life Insurance Report 2025

Our survey and analysis revealed that tailor features and processes to their unique
the best-in-class insurers do more than requirements without compromising the
develop advanced capabilities; they also integrity of the packaged systems. This
translate them into business results to drive strategic approach helps them avoid future
outperformance (Figure 9). Specifically, problems and control costs. The result is a flexible
they achieve 38% higher NPS scores and yet robust infrastructure to support efficient
11% lower expense ratios than mainstream operations and facilitate rapid adaptation to
life insurers. Within the past three years, evolving customer needs.
they also generated 6% higher revenue
As illustrated in the case study below,
growth than the industry.
Gen AI plays an influential role in the
modernization process by:
Best-in-class life insurers unlock advantages
by orchestrating transformation initiatives • Identifying optimal migration paths and
around two strategic priorities: modeling scenarios to guide strategic
planning
• Deploying advanced technology to
modernize legacy systems, streamline • Extracting, cleansing, and integrating data
data management, and enable Gen AI from legacy platforms

• Cultivating talent and partnerships to • Generating and optimizing code,

drive customer-centric cultures and automation of testing
increase efficiency across the value chain. • Analyzing patterns and historical data to
predict implementation challenges – and
then providing real-time solutions for
Deploying advanced smoother rollouts.
technology to accelerate The CEO of Sureify, USA, Dustin Yoder,
legacy modernization said, “With a high-performance edge
Most insurers adopt a multifaceted API, insurers can unify data and business
hybrid approach to core system modernization, processes, including across multiple
combining readymade software with customized complex backends, effectively de-risking
functionalities via API-driven digital wrappers. legacy systems while improving the
By adding tools and technology, they can customer experience.”

Gen AI-assisted life closed block Strategy/implementation

To better understand its core systems, the insurer
migration for a Global Life Insurer leveraged Capgemini’s AI-powered tools to
analyze existing applications quickly. The process
Business challenge automatically assessed the overall health and
A global life insurer aspired to increase business complexity of the organization’s codebase. The
agility, reduce operating costs, and offer real- analysis identified outdated components, inter-
time customer service. To achieve this goal, the program dependencies, and each function’s
company planned to migrate its life business underlying business logic. The tools helped
from legacy to modern applications. The aim was eliminate rigid legacy-system coding, making
to use AI tools to complete the migration within codes more adaptable. Moreover, AI helped the
accelerated timeframes. Capgemini implemented insurer automate mapping data between the
tools and processes capable of extracting source and target systems.
legacy product requirements, rates, and logic to
quickly convert business processes and achieve Business results
higher quality, speed, and accuracy using data Capgemini’s AI accelerators scanned 20,000+ lines
for a complex life product (a group whole life of code with 800+ target fields. This accelerated
contributor). mainframe assessment delivered 90% automated
code assessment, 60–80% automated reverse
engineering, 90% automated data mapping, and
70% automated code documentation.
 World Life Insurance Report 2025 25

Figure 9. Best-in-class life insurers realize business results

Enhanced customer Improved financial Increased operational

satisfaction 2023 performance (last 3 years) efficiency 2023
Higher Net Promoter
Higher growth Lower expense ratio
38% Score (NPS ®) than 6% than the industry
11% than mainstream insurers
mainstream insurers

Source: Capgemini Research Institute for Financial Services analysis, 2024; World Life Insurance Report Executive
interviews 2024 (N=213).

Harnessing the power of What’s necessary to unleash

effective data management the power of Gen AI?
A modern and secure data management As part of our executive survey, 67% of

67%
of best-in-class
model is critical to reaping the full benefits
of core system transformation. Here again,
best-in-class life insurers offer a proven
respondents from best-in-class insurers said
their organizations were ready to leverage
and maximize Gen AI capabilities; that figure
insurers are ready template. Specifically, they: was 25% for mainstream insurers. Yet readiness
to maximize is one thing; realizing value is another.
leverage of Gen AI • Train and upskill employees on data
management best practices to ensure Insurers looking to Gen AI to innovate
secure data handling across the their policyholders’ customer experience
organization and optimize operations are wise to
address potential challenges, such as data
• Adopt secure data sourcing, classification,
hallucinations (responses generated by Gen AI
and protection to maintain regulatory
that contain false or misleading information
compliance and protect sensitive
presented as fact), evolving regulations, high
customer information
costs, and scalability and maturity concerns.
• Break down long-standing product and A centralized and disciplined governance
data silos across the organization to create framework provides the foundation for safe
unified customer views, enabling enhanced and innovative Gen AI deployment across the
decision-making, tailored customer service business (Figure 10).
and engagement
• Democratize data consumption with Cultivate talent and forge
efficient storage solutions and adequate access beneficial partnerships
controls to empower responsible access and
usage at all levels while fostering innovation and It may be cliché that technology alone won’t
enhancing risk assessment accuracy transform a business, but it’s true. In life
insurance, new talent and strong partnerships are
• Deliver insights quickly by designing necessary to unleash the power of data and Gen AI
efficient workflows and promoting to enhance the customer experience.
transparency to enable agile responses to
market changes and customer needs Talent recruitment is a big challenge. In fact,
according to our research, 34 percent of insurers
Generali Italy’s Chief Life Officer Giancarlo identify talent as a top-three obstacle hindering
Bosser said, “Insurers could face significant their ability to deliver superior customer
personalization challenges due to limited experience. Today’s most significant talent gaps
customer data availability and heavy are behavioral scientists, experience designers,
reliance on intermediaries for insights. and AI prompt engineers. Each of these roles can
Forming strategic data-collection partnerships help to improve customer experiences.
is crucial for insurers to boost personalization
and the customer experience.” Transforming the existing workforce can
also make a difference. Linking incentives
to policyholder outcomes fosters a customer-
centric mindset. Tailored training and upskilling
 26 World Life Insurance Report 2025

programs can help drive focused results such Upskilled internal talent and partnerships
as more humane and personalized service for can shape a customer-first culture. Insurers
claims beneficiaries. can build on the foundational technologies we
discussed earlier to:
Strategic partnerships may be necessary
for the most in-demand skills and capabilities • Foster customer-centric innovation and
and for connecting with new data sources. process redesign to maximize customers’
lifetime value
Collaborations with CX leaders outside the
industry can help revamp life insurance • Augment human expertise with Gen AI
journeys and accelerate innovation. For instance, for tailored, empathetic, and impactful
Pan-Asian life insurer FWD Group partners with customer interactions
Microsoft to deploy AI-driven copilots for more • Incorporate appropriate friction by
effective customer acquisition, marketing, creating deliberate pauses that encourage
underwriting, and claims processing. These customers to consider important decisions
Gen AI solutions streamline employees’ carefully. These touchpoints can enhance
tasks while boosting operational efficiency.10 customer satisfaction and reduce the risk of
mis-selling by helping policyholders fully
understand their commitments and the
benefits of the coverage they purchase.
In-house attempts at technology
transformation often fail due to a
mismatch between a carrier's risk-centric Embracing innovation frequently
mindset versus the customer-centric, entails not only adopting new
experimental approach needed for great technologies but also transforming
experiences. Ecosystems and partnerships cultural mindsets. Forward-thinking
allow insurers to focus on core insurers break free from traditional
competencies while leveraging specialized perspectives, embracing a disruptive,
expertise to enrich CX.” digital-first strategy that prioritizes
Sam Fromson customer expectations over their own
Co-founder and COO, YuLife, UK resistance to change.”

Patrice Amann
EMEA Insurance Business Lead,
Microsoft, France

Figure 10. A centralized and disciplined governance framework can unlock Gen AI value

Build an AI team with direct C-Suite reporting Establish a disciplined governance foundation
• Form a cross-functional team with business and • Define policies to ensure data quality,
IT leaders, AI experts, ethicists, and compliance pros explicability, and regulatory auditability
• Provide centralized support for local • Set scale-up priorities with clear stage gates
initiatives and ensure alignment with by deploying randomized control trials to
business goals evaluate Gen AI performance

Establish a continuous monitoring system Prioritize use cases to demonstrate Gen AI ROI
• Involve senior leaders in setting Gen AI KPIs • Target low-risk/high-impact quick wins
linked to key business outcomes like onboarding, code development, servicing,
• Regularly adjust approach and KPIs and contact center operations
to align with evolving business goals and • Reinvent your operating model to leverage risk
landscape data to predict customer lifetime value potential,
tailor CX, and optimize up-and cross-selling
opportunities

Source: Capgemini Research Institute for Financial Services analysis, 2024.

 World Life Insurance Report 2025 27

Conclusion
It’s clear that future success is contingent on regaining and
maintaining customer mind share and wallet share through
data-driven, AI-enriched CX that positions insurers as lifelong
partners and reflects the industry’s highly personal and sensitive
nature.
Transformation is as much about business purpose as
technology. By crafting intelligent policyholder journeys,
insurers can build trust, demonstrate commitment to long-
term customer
well-being, and deliver the peace of mind sought by insureds
and their beneficiaries. That sense of security and confidence is
the industry’s foundational purpose.
Insurers can harness customer experience as a differentiator
while driving operational efficiency. The path forward involves
four key steps:
• Promote policyholders’ financial wellness through
comprehensive, flexible solutions and education that
elevate insurers’ role in customers' lives and meet their
evolving needs over time
• Reimagine customer experience through seamless,
engaging policyholder journeys and empathetic beneficiary
claims experiences that boost customer acquisition, long-
term relevance, and retention
• Leverage Gen AI and data through the industry's unique
longevity and risk assessment expertise to offer
personalized lifestyle solutions
• Simplify and modernize IT architecture for fast, flexible,
and scalable solutions that empower agents/brokers and
support a wide range of individualized customer journeys.
We believe life insurers that follow these steps can resolve
long-standing challenges while bolstering relevance and
maximizing customer lifetime value. Insurers can increase
revenue and efficiency by combining AI-augmented human
interactions with operational excellence. Best-in-class
insurers are proving that such breakthrough value is within
reach. We recommend that all carriers consider the urgency
of transformation: now is the time to begin.
 28 World Life Insurance Report 2025

Methodology
The World Life Insurance Report 2025 draws data • Servicing initiative adoption, on a scale comprising
from two primary sources: the Global Voice of the not adopted, pilot, business unit, organization, and
Customer Survey, administered during May and group level. Initiatives included self-service portals,
June 2024, and the Global Insurance Executive proactive communication, AI-powered chatbots/
Survey, conducted during May and June 2024. This virtual assistants, workforce copilot to assist
primary research covers insights from 20 markets: customer service staff, centralized CRM system,
Australia, Belgium, Brazil, Canada, Finland, France, digital portals for policy servicing/management for
Germany, Hong Kong, India, Italy, Japan, Mexico, the agents/brokers, intuitive online benefit enrollment
Netherlands, Norway, Portugal, Singapore, Spain, platforms for group members, support channels for
Sweden, the United Kingdom, and the United States. member inquiries about group-client benefits.
• Claims initiative adoption on a scale comprising not
Global Voice of the Customer Survey adopted, pilot, business unit, organization, and
Our comprehensive Voice of the Customer Survey, group level. Initiatives included a digital claim
administered in collaboration with Phronesis submission process, real-time claim status updates,
Partners, polled 6,186 life insurance customers in 18 AI-powered claims assessment, training for agents/
countries. These markets represent all three regions insurer representatives to offer empathy and
of the globe – The Americas (the United States, support techniques, workforce copilot using voice
Mexico, Canada, and Brazil), Europe (Belgium, France, and sentiment analyses to assist claims staff,
Germany, Italy, the Netherlands, Portugal, Spain, flexible benefit options to meet the diverse needs
Sweden, and the United Kingdom), and Asia-Pacific of client group members, portal for group client
(Australia, Hong Kong, India, Japan, and Singapore). members and their beneficiaries, clear
communication on documentation and timelines,
beneficiary engagement through online access
Global Insurance Executive Survey capabilities.
The report also includes insights from interviews with
• Technology adoption ratings were calculated based
213 leading life insurance company executives across
on a selection scale, including not adopted, pilot,
16 markets. These markets together represent all three
business unit, organization, and group level.
regions of the globe – The Americas (the United States,
Technologies included low code/no code, cloud, AI
Canada, and Brazil), Europe (Belgium, Finland, France,
including Gen AI, advanced analytics, and APIs.
Germany, Italy, the Netherlands, Norway, Spain, and the
United Kingdom) and Asia-Pacific (Australia, Hong Kong, • Technology infrastructure preparedness to support
India, and Singapore). Gen AI adoption was rated using a selection scale
that included unprepared, moderately prepared,
Insurers’ maturity prepared, and comprehensively prepared.

In the report, we calculated each firm’s maturity • Overall, CX improvement priorities were calculated
(best-in-class versus mainstream insurers) based on based on a scale that included the options not
their self-assessment of the following categories: adopted, pilot, business unit, organization, and
group levels. Priorities included ecosystem
• Onboarding initiative adoption, on a scale partnerships, legacy transformation, mainframe
comprising not adopted, pilot, business unit, migration, product personalization, digital
organization, and group level. Initiatives included servicing, etc.
automated underwriting, seamless data integration
facilitated by open insurance, easy premium Our analysis indicated that the top five percent
payment options, product education for of firms (best-in-class) are leading across these
policyholders, communication of benefits/ initiatives and are reaping related benefits.
enrollment procedures to group-client members,
data-driven tools for product and benefit
illustration for agents/brokers, digital portals for
policy management for agents/brokers.
 World Life Insurance Report 2025 29

Partner with Capgemini

Life insurers face a critical juncture in an era of Drive business growth and
heightened customer expectations and disruptive
innovation. To thrive, they must transcend traditional profitability
models and embrace a future where technology • Take the ease of doing business to the next level
empowers human connection. By seamlessly powered by digital agency: Formulate a
integrating AI with expert guidance, carriers can technology-driven agent/customer experience
unlock unprecedented opportunities to deliver strategy as a competitive differentiator. With
personalized experiences, streamline operations, and Capgemini, get to the bottom of your structural IT
maximize policyholder lifetime value. challenges and build a blueprint that will feature all
ecosystem capabilities, process transformation, and
Where to start? AI-based enhancements for operational success. A
single unified front-end experience for sales across
• Begin by optimizing onboarding with swift risk all lines of business will catalyze success with the
assessment and instant policy issuance using targeted use of automated workflows, data fill, and
data-driven distribution and communication muti-line functionality.
• Enhance self-service through AI-powered tools for • Modernize data estate infrastructure for secure
customers and intelligent platforms for agents/ and always available data: Liberate the total value
brokers/customer service staff of your data investments by ramping up the use,
• Speed up, simplify, and improve claims processing adoption, and availability of data assets while saving
with ecosystem integration for empathy training, money through automation. We will help you
sentiment analysis, and beneficiary engagement. achieve your desired outcomes through automated
data extraction and transformation. We will load
Let Capgemini guide your efficient and business-relevant cadences from legacy systems
customer-centric transformation by leveraging into centralized cloud-based data lakes with
technology, talent, and partnerships.Our standardized integration and API layers.
solutions – crafted with input from industry experts
and built on our extensive experience – will help your • Transform operations for customer-centric
organization to: service: Elevate your customer experience with
Capgemini’s AI-powered solutions. We will help
streamline your contact center and back-office
Extract value from legacy businesses operations, ensuring smooth interactions for
• Migrate legacy with AI-first tools and enrollment, customer service, and claims. By
frameworks: Harness the value of Gen AI to extract harnessing the power of AI and automation, you can
processing logic and rules from legacy boost efficiency, deliver exceptional support across
administrative systems. Modernization will all channels, and gain a competitive business edge.
cost-effectively meet timeline expectations with The result? Happier customers, improved customer
higher quality than traditional methods. Capgemini loyalty and lifetime value, streamlined operations
will help migrate your operations to a modern and a more robust bottom line.
cloud-based environment, redesign related service
processes, and retrain and rationalize staff as necessary.
• De-risk legacy with a digital core transformation:
Let Capgemini help revitalize your existing core
investments within a cloud-based composable
technology ecosystem. We’ll help you harness
capabilities while prioritizing agility, economy, and
scalability. The result? An end-to-end modern
ecosystem that supports unified customer experience,
enables complete sales and service process redesign, and
empowers workforce capability, including necessary
distribution partner upskilling.
 30 World Life Insurance Report 2025

Ask the experts

Adam Denninger Samantha Chow

Global Industry Leader for Insurance Global Life and Annuity Sector Leader
adam.denninger@capgemini.com samantha.chow@capgemini.com
Adam Denninger leads Capgemini’s global Samantha Chow is an expert in the global life,
strategy and product management for the annuity, and benefits markets and has 25 years
insurance industry and manages its relationships of experience. She has deep expertise in driving
with the insurance technology ecosystem. the growth of enterprise-wide capabilities that
Adam has 20+ years of experience creating facilitate transformational and cultural change,
and delivering solutions at the intersection of focusing on customer experience, operational
business and technology. efficiency, legacy modernization, and innovation
to support competitive advancement.

Shane Cassidy Nathan Summers

Insurance Business Unit Leader Managing Director of Financial Services,
Capgemini Invent
shane.cassidy@capgemini.com
nathan.summers@capgemini.com
Shane Cassidy is the head of Capgemini’s Global
Insurance Business Unit. Shane has been at the Nathan Summers is the Managing Director
forefront of digital disruption and innovation of Financial Services at Capgemini Invent.
for two decades, identifying and developing He has more than 25 years of consulting
solutions to address the market evolution. leadership experience and works with senior
client leaders on group strategy and strategic
transformation initiatives.
 World Life Insurance Report 2025 31

Kiran Boosam Lotfi Baccouche

Global Portfolio Leader for Insurance Co-lead of Insurance Practice, Capgemini Invent
kiran.boosam@capgemini.com lotfi.baccouche@capgemini.com
Kiran Boosam leads Capgemini’s Global Insurance Lotfi Baccouche is co-leading Capgemini Invent
Portfolio. A career P&C and life insurance insurance practice globally. He advises major
expert, Kiran assesses the industry dynamics, insurance firms on business strategy and
forecasts Insurance CXOs’ strategies, shapes operating models. He supports insurance firms
fitting innovative portfolios, and enables key in improving their operational efficiencies and
accounts to leverage the power of the Capgemini risk profiles by developing and implementing
Group, external ecosystems, and emerging technologically enabled solutions.
technologies.

Elias Ghanem Luca Russignan

Global Head of Capgemini Research Institute Head of Insurance and Deputy Head of
for Financial Services Capgemini Research Institute for Financial
Services
elias.ghanem@capgemini.com
luca.russignan@capgemini.com
Elias Ghanem leads Capgemini’s global portfolio
of financial services thought leadership. He Luca Russignan is an insurance expert with
oversees a team of strategy consultants and more than 15 years of experience with
sector analysts who deliver market insights to industry-leading consultancies and insurers.
help clients build future-proofing strategies. At Capgemini, he enables CxO conversations
He has more than 25 years of financial services in the insurance sector through data-driven
experience, focusing on win-win collaboration thought leadership to shape insurance
between incumbents and startups. business strategy across the UK, US, Italy,
and APAC.
 32 World Life Insurance Report 2025

Key contacts
Global India Nordics
Shane Cassidy Aarti Rao Jimut Basa
shane.cassidy@capgemini.com aarti.a.rao@capgemini.com jimut.basa@capgemini.com

Adam Denninger Ujjwalita Preejush Helen Jensen (Sweden and Finland)

adam.denninger@capgemini.com ujjwalita.preejush@capgemini.com helen.jensen@capgemini.com

Ian Campos ............................................................................... Cecilie Vatn (Norway)

ian.campos@capgemini.com cecilie.vatn@capgemini.com

Nathan Summers Italy ...............................................................................

nathan.summers@capgemini.com
Matteo Bonati
................................................................................ matteo.bonati@capgemini.com
Portugal
Lorenzo Busca
Guilherme Durão Barroso
Australia and New Zealand lorenzo.busca@capgemini.com
guilherme.durao-barroso@capgemini.com
Roshnai Chaudhuri ................................................................................
Laura Magalhaes
roshnai.chaudhuri@capgemini.com
laura.magalhaes@capgemini.com
Saugata Ghosh
Japan
saugata.ghosh@capgemini.com Kazuhira Takewa ................................................................................
kazuhira.takewa@capgemini.com
................................................................................
Atsushi Terasawa SE Asia
atsushi.terasawa@capgemini.com
Belgium Sivakumar Vankamaddi
sivakumar.vankamaddi@capgemini.com
Jan Verlinden ................................................................................
jan.verlinden@capgemini.com Liotard-Vogt Laurent
laurent.liotard-vogt@capgemini.com
Patricia Boydens LatAM
patricia.boydens@capgemini.com ................................................................................
Ricardo Acacio
Sanjay Jhamb ricardo.acacio@capgemini.com
sanjay.jhamb@capgemini.com
Renata Ramos
Spain
renata.ramos@capgemini.com Jordi Valls Ribas
................................................................................
jordi.valls-ribas@capgemini.com
...............................................................................
France Antonio Luis Nuñez Pitera
antonio-luis.nunez-pitera@capgemini.com
Thierry Loras Middle East (KSA & UAE)
thierry.loras@capgemini.com ................................................................................
Shehab Abdelwahab
Lena Pastor
lena.pastor@capgemini.com
shehab.abdelwahab@capgemini.com UK
Sree Vishala Ravipati
..................................................................
................................................................................ sree-vishala.ravipati@capgemini.com

Lotfi Baccouche
Germany The Netherlands lotfi.baccouche@capgemini.com
Jimut Basa
Alexander Pusch
jimut.basa@capgemini.com ...............................................................................
alexander.pusch@capgemini.com
Ewout Bouwman
Thomas Hillar
ewout.bouwman@capgemini.com USA and Canada
thomas.hillar@capgemini.com
Samantha Chow
samantha.chow@capgemini.com

Patrick Bucquet
patrick.bucquet@capgemini.com
 World Life Insurance Report 2025 33

Acknowledgments
We offer special thanks to the insurers, ecosystem Goswami, and Ishan Jain for providing in-depth
partners, and industry experts who contributed their market analysis. Cole Ollinger for copywriting
valuable time during the World Life Insurance Report and editorial support, Tamara McKinney Berry
Executive Interviews and the Voice of the Customer for editorial leadership and content oversight,
Survey. and Dinesh Dhandapani Dhesigan for graphical
interpretation and design.
We appreciate the expertise of participating
firms: 360 Digital Immersion, AAA - The Auto Capgemini Sponsorship Committee: Vijay Amballa,
Club Group, AG Insurance, AG2R La Mondiale, Kiran Boosam, Samantha Chow, Adam Denninger,
Allianz Benelux, Allianz Lebensversicherungs-AG, Ajish Gopan, Aarti Kulkarni, Thierry Loras, Aarti Rao.
Alte Leipziger Lebensversicherung A.G, Ameritas,
Capgemini’s global insurance network: Jimut Basa,
AWS, AXA Seguros, Baloise Insurance, BB Seguros,
Martin Baumann, Rachna Bhutoria, Lars Boeing,
Bradesco Seguros, Bradesco Vida e Previdência,
Pierre-Olivier Bouée, Patricia Boydens, Ian Campos,
Brasilprev, Brasilseg, Celent, CNP Seguradora,
Shane Cassidy, Divij Chopra, Ian Craney, Jignesh
Crédit Agricole Assurances, Crédit Agricole Vita,
Desai, Pranay Desai, Biju George, Stefan Grimfors,
Curalia, Dai-ichi Life Holdings, DELA Insurance
Amit Gunjan, Stefan Hanslmaie, Anand Syril Joseph,
Belgium, EIS, Ethias NV, Federale Verzekering,
Pankaj Kakkar, Himanshu Kalra, Doli Karmakar,
Generali Italy, Groupama, HSBC Life (International)
Saurabh Kulkarni, Emilio Laterza, Gustavo Leanca,
Limited, Max Life Insurance Company Ltd.,
Ashley Luke, Matteo Bonati, Hardik Mehta, Marianne
Microsoft, Monument Assurance Belgium, Mutual
Moe-Helgesen, Arnaud Monchatre, Conor O’Brien,
of Omaha, NN Insurance Belgium, Nordea Life
Simi Pillai, Sean Rowlands, Gilles Scaramiglia,
and Pension, Northwestern Mutual, Nurnberger
Prachi Jaydeep Shah, Chirag Thakral, Klaus
Lebensversicherung AG, Pramerica Life Insurance,
Thummert, Shinichi Tonomura, Cecilie Vatn, Shahina
Prudential do Brasil, Prudential Financial, Reale
Vayyapuram, Jan Verlinden, Jonathan Walters.
Mutua, Renaissance, Seguradora Zurich, Signal Iduna
Lebensversicherung A.G, Storebrand Livsforsikring Marketing: Vijaydeep Singh, Meghala Nair,
AS, SunLife Financial Inc, Sureify, The Wawanesa Life Jyoti Goyal, David Merrill, Neha George, Swathi
Insurance company, Van Breda Risk & Benefits, VPV Raghavarapu, Fahd Pasha, Manasi Sakpal, Anthony
Lebensversicherungs-AG, YuLife. Tourville, Manisha Singh, and Vamsi Krishna
Garre for their overall marketing support for the
We recognize the following teams and individuals
report; and the Creative Services Team: Sushmitha
for analysis, composition, and production:
Kunaparaju, Pravin Kimbahune, and Balaswamy
Capgemini Research Institute for Financial Services: Lingeshwar for report production.
Shaik Arbazuddin, Chayan Bandyopadhyay, Swati

Lead analyst

Sukanya Sen
Manager, Insurance
Capgemini Research Institute for Financial Services
sukanya.a.sen@capgemini.com

Sukanya is a CRI|FS insurance domain project manager with more than 5 years of experience. She
manages several projects while researching and analyzing data to formulate impactful insurance
business insights.
 34 World Life Insurance Report 2025

Endnotes
1. SwissRe Sigma Explorer, “World Insurance Premiums.” Accessed July 2024.
2. GlobalData, “Retail Investments Analytics.” Accessed July 2024.
3. Capgemini Research Institute for Financial Services analysis 2024, based on Companies Market Cap. Accessed July 2024.
4. USA Facts, “Nearly half of American households have no retirement savings.” November 9, 2023.
5. Insurance Europe, “2023 Pan-European Pension Survey.” Accessed July 2024.
6. Transamerica Institute, “The Multigenerational Workforce: Life, Work, & Retirement – 24th Annual Transamerica Retirement Survey
of Workers.” June 2024.
7. Capgemini Research Institute for Financial Services analysis 2024, based on annual reports of selected firms.” Accessed July 2024.
8. Verint, “Aviva Life Reimagines Vulnerable Customer Experience with Verint Speech Analytics.” Accessed July 2024.
9. Insurance Innovation Reporter, “MetLife Launches Empathy’s Bereavement Support with AT&T.” October 6, 2023.
10. CDO Trends, “FWD Group Bets Big on Gen AI to Transform Insurance.” February 26, 2024.
 World Life Insurance Report 2025 35

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