The majority of insurance experts believe the industry is over-dependent on investment returns, revealed a survey by Deloitte.
The survey of 80 senior insurance executives from around the world revealed that 86% of respondents felt improving their core insurance operations was the best route to strong profitability.
Only 11% of those surveyed said premiums were the most effective way to boost profitability, although 33% said losses on the assets had been the most important cause of rising premiums.
The most important factor in improving underwriting performance is having better information on risks, said 67% of those surveyed.
He survey also found that only 15% of respondents described their claims management process as excellent. Fewer than half believed their processes were good, with the rest describing them as fair.
Only 4% of respondents viewed conditions in their sector as excellent, said Deloitte.
