They expect to be hugely impacted by disruptive technological, economic, social, and political changes in the coming years, with business chiefs in entertainment, banking and healthcare less concerned.
Over-regulation was found to be the number one worry for 95% of insurance bosses worldwide, with more than half believing it is becoming harder to compete in an open global marketplace as countries adopt more protectionist policies.
PwC global insurance leader, Stephen O’Hearn, said: “Insurance CEOs are acutely aware of the disruption and change facing their industry, the transformational impact of which is now evident.
“Concerns over regulation, the pace of technological change, shifting customer behaviour, and competition from new market entrants have continued to rise from their already high levels.
“When the impact is put together, no other sector is facing as much disruption in these four areas.”
The top five disrupted sectors, and the percentage of CEO’s “extremely concerned” about the relevant threats are shown below: