-
45% cited the economic and regulatory landscape as their top concern, reflecting uncertainty around inflation, pricing controls, and regulatory compliance changes. Technology developments follow closely at 42%.
-
Encouragingly, 86% of respondents describe their workplace positively. Despite a positive sentiment in terms of workforce engagement, 39% of respondents have looked to change roles in the past year, and a large percentage have considered leaving the industry altogether.
-
AI is set to redefine the insurance workforce. Nearly three in four executives (73%) expect headcount reductions of up to 20% within five years, and a further 14% foresee cuts of 20–50%. Only 12% believe AI will have no impact, confirming that workforce transformation is no longer a question of if, but how fast.
-
Insurers are investing in AI, automation, and modern data systems to drive efficiency, cut costs, and improve customer experience but legacy systems and compliance pressures still hold back full transformation.
Please find attached a Press Release about the results of the ‘Heartbeat Survey’ published today, giving a fascinating behind-the-scenes insight into the $76 billion* General Insurance industry, an industry that is so important for the confidence of all businesses in Australia and for a thriving economy. I have also attached a copy of the report.
Our in-depth report provides valuable insights into the current state and future direction of the General Insurance industry across Australia and New Zealand, based on survey responses from a broad cross-section of industry professionals, including board members, executives, and senior leaders.
The report covers respondents views on the top threats and opportunities, leadership qualities, workforce experience, sentiment, skills and values, customer experience and operations, technology and AI. It even explores what employees would do if they were CEO for the day!
Here are some examples of the insights:
- 45% cited the economic and regulatory landscape as their top concern, reflecting uncertainty around inflation, pricing controls, and regulatory compliance changes. Technology developments follow closely at 42%.
- Encouragingly, 86% of respondents describe their workplace positively. Despite a positive sentiment in terms of workforce engagement, 39% of respondents have looked to change roles in the past year, and a large percentage have considered leaving the industry altogether.
- AI is set to redefine the insurance workforce. Nearly three in four executives (73%) expect headcount reductions of up to 20% within five years, and a further 14% foresee cuts of 20–50%. Only 12% believe AI will have no impact, confirming that workforce transformation is no longer a question of if, but how fast.
- Insurers are investing in AI, automation, and modern data systems to drive efficiency, cut costs, and improve customer experience but legacy systems and compliance pressures still hold back full transformation.
The survey was commissioned by independent management consultancy, The Bridge International, in partnership with the Australian and New Zealand Institute of Insurance and Finance. ANZIIF is the leading membership, training and professional development organisation for the insurance and finance industry in the Asia-Pacific region.
Should you require further information, interviews, or access to the full report, please do not hesitate to contact me directly at +61 408 575657 or via email at [email protected]
*IBIS world July 2025
About us:
The Bridge International is an alternative, innovative and purpose driven management consultancy operating in Australia, New Zealand and internationally. It is a values and purpose-driven organisation headquartered in Sydney, with teams in Queensland, Victoria, and South Australia.
The Bridge International’s leadership team brings deep C-suite experience, having walked in the shoes of their clients. This practitioner-first approach, combined with strong consulting capability, enables them to quickly define the problem and design pragmatic, fit-for-purpose solutions that are actionable and effective - not theoretical.
Clients trust The Bridge International to provide honest advice and work as an extension of their team, delivering measurable results and strong returns on investment. The company’s fair-value model reflects its fast-track approach, lower overheads, and commitment to having senior experts on every assignment.
The Bridge International’s practices span: Strategy & Corporate Development, Customer & Operations, Leadership, Culture & Capability, Insurance, Program Delivery & Embedment. The range of services offered enables the company to support a wide range of client needs, providing a bridge between strategy and execution, embedding sustainable solutions and transferring knowledge so that clients succeed over the long term.
CXO2 is The Bridge International’s customer obsessed business. The dedicated customer experience consultancy at The Bridge International is breathing life into everything customer – from strategy and insight to action and results.
Bridge to Good is how The Bridge International turns business into good. Through its foundation, the company supports Lifeline, Cancer Council NSW, and Dementia Australia, helping create impact where it matters most.
Contact details:
Lewis Pullen +61 408 575657
Partner & CMO The Bridge International
