Change management has become the most important challenge in the minds of C-suite executives in the global life insurance industry, followed closely by the need to improve customer experience. Results from the new biennial global survey of C-suite life insurance executives finds a shift in priorities as economic, technological, regulatory and consumer changes press life insurance companies to reassess their business model.

Today’s consumers have to manage increasingly complex financial issues. From student loans, credit card and other debt, and managing increased healthcare costs, to retirement savings and addressing the financial risks in retirement, there are more financial balls in the air for consumers to juggle. A Secure Retirement Institute (SRI, formerly LIMRA Secure Retirement Institute) study finds only 13% of American adults feel very knowledgeable about financial products and investments.