Top trends and priorities focus on customer experience, cost efficiency and modernization

We met with 47 life and pensions executives to understand their top priorities and how they are preparing for and adapting to key trends shaping their organizations. This year, executives are prioritizing:

  • Accelerating digital transformation and enhancing customer experience
  • Responding to economic uncertainty through asset management and cost reduction
  • Modernizing applications and infrastructure through cloud migration and SaaS products
conultants analyzing data displayed on tablet

Clients extend data strategies to ecosystems as GenAI exploration and traditional AI implementations rise.

41%
cite AI as the top innovation priority over the next 3 years
80%
are exploring GenAI, while traditional AI implementations are up
65%
have a holistic data strategy for the enterprise or extending across the ecosystem

Modernization, managed services, and digital strategies impact strategy

 

  • Legacy challenges persist
    77% report medium to high legacy challenges and approximately 50% plan to invest in modernization.
  • Reliance on managed services to rise
    73% cite full or substantial use of managed services for infrastructure in the next three years (+13pp YoY).
  • Results from digital strategies stay flat, but above the all-industry average
    44% are producing expected results from digital strategies (-1pp YoY), compared to 34% across all industries.

 

consultants using tablet in office

What digital leaders do to accelerate results

Organizations generating expected results from their digitization strategies—the digital leaders—share common attributes that enable them to accelerate outcomes compared to others. For example, in life and pensions, digital leaders:

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Are less challenged by legacy systems

-9pp

vs. industry average

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Have a business model highly impacted by digitization

+6pp

vs. industry average

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Have highly agile business models

+12pp

vs. industry average

pp = percentage points

Recommendations for improving data and operations to drive innovation:

1

Use advanced data analytics and AI-driven insights to customize life and pensions products and services.

2

Develop retirement planning solutions and annuity products tailored to a changing population and workforce.

3

Invest in risk modeling tools and actuarial expertise to accurately assess liabilities.

4

Use digital channels to build relationships, gather feedback, and provide personalized advice and support.

5

Adapt to regulatory changes, compliance standards, and market trends to manage risk, efficiency, and transparency.
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At CGI, we help life and pensions organizations advance their digital transformation and optimize operations to improve product innovation and the customer experience. Learn more about:

 

Managed IT Services  Strategic alignment   Advanced analytics  Artificial intelligence  Cybersecurity