Health insurance is expected to be the fastest-growing segment. Public health systems are under increasing pressure, and private insurers are stepping in to fill the gap. Rising costs, demographic pressures, and consumer demand for personalized, digital health services are driving this expansion.

Other segments will remain stable: property and casualty insurance is likely to stabilize, life insurance will remain robust, and pension insurance will retain its appeal thanks to favourable tax treatment and predictable returns.

In this environment, efficiency and size will become strategic priorities. Cost control is becoming a critical factor in more competitive markets, particularly in personal lines. Insurers will invest in automation, simplified architectures, modern pricing systems, and smart risk selection. It will be critical to retain profitable customer relationships while avoiding unattractive risks. Sophisticated data management capabilities will be essential to achieve this. In commercial insurance, speed and collaboration will play a key role, with brokers taking center stage.

Underwriters will need to respond more quickly and flexibly, while carefully balancing the shift toward sales-oriented underwriting practices to maintain discipline. Health insurance, meanwhile, will require the most investment, as insurers build and expand their own medical networks or enter into strategic partnerships to improve service delivery and manage costs.

Technology continues to drive change, but modernization is not yet complete at many insurance companies. In countries such as Japan, Germany, and France, significant investments are currently being made in core systems. Commercial insurers are expanding the use of underwriting workbenches and automation tools, while private insurers will focus on self-service and process automation to reduce call center costs.

The adoption of cloud technology is progressing unevenly: Australia, New Zealand, and the UK are making rapid progress, while Japan and continental Europe remain cautious. Artificial intelligence has great potential to increase efficiency, especially in the processing of unstructured data, but expectations need to be tempered. Similar to the early days of online banking, AI will not replace human expertise. A correction in the AI hype is likely to occur within the next two years.

The insurance industry in 2026 will be characterized not by upheaval, but by strategic evolution. The winners will be those who focus on scale, prioritize efficiency, and invest wisely in technology. At Sollers, we remain committed to supporting insurers through this transformation, providing them with the tools, expertise, and agility they need to succeed in a changing world.