Business, Management, Marketing, Money, Tax, Law, People

As Prudential plc embraces digital transformation, the 176-year-old insurance company finds itself navigating a delicate balancing act: harmonizing the power of AI with a human touch, essential to delivering exceptional customer experiences. Prudential prioritizes data-driven insights to offer customers more-personalized, proactive, and efficient services and drive sustainable growth across global markets while preserving the personal connections that insurance customers value. Joe Ngai, chairman of McKinsey, Greater China, and a senior…

The emergence of AI and generative AI (gen AI) has brought new energy to the age-old conversation about productivity. In this episode of the McKinsey on Insurance podcast, McKinsey senior partner Jörg Mußhoff sits down with partners Elena Pizzocaro and Selim Sulos to discuss why revisiting insurance productivity is at the top of CEOs’ agendas, how the most successful transformations use an end-to-end redesign approach, and why CEOs shouldn’t get distracted by…

People often speak of industry momentum as if it were a force of nature independent of individual companies’ actions—like the mysterious “ether” scientists once believed filled the universe and allowed light to travel. While demographics and macroeconomic factors outside organizations’ control do contribute to momentum, the trajectory and pace of industry growth very much rely on the innovation efforts of a sector’s constituent businesses. By harnessing technology and creating new…

At a glance The energy transition is in its early stages, with about 10 percent of required deployment of low-emissions technologies by 2050 achieved in most areas. Optimized over centuries, today’s energy system has many advantages, but the production and consumption of energy accounts for more than 85 percent of global carbon dioxide (CO2) emissions. Creating a low-emissions system, even while expanding energy access globally, would require deploying millions of…

The German healthcare system, renowned for its efficiency and quality of care, is at a critical juncture in the postpandemic era. The results of a McKinsey survey of physicians in Germany highlight substantial challenges that could be affecting the quality and reliability of patient care (see sidebar, “Research methodology”). The survey results also inspire optimism, however: most physicians believe the issues could be resolved with technology-enabled solutions, innovative organization designs,…

The squeeze on retailers’ profits is tighter than ever. And while some retailers are struggling to eke out value, the best are pulling away from the rest (Exhibit 1). Those that are left behind have already picked the low-hanging fruit to combat the sector’s headwinds: they have tried to solve their operational problems with localized solutions, to limited effect. But if they want to protect their margins and gain a…