Financial services Strategy August 16, 2022One challenge for life insurers? Making the costs of operations and technology more efficient. According to our analysis, life insurance is one of the few industries—within and outside financial services—that have seen cost ratios increase over the past 20 years. Insurers could consider developing a new set of capabilities, including (for example) modernizing cloud-first approaches to managing applications and data. We strive to provide individuals with disabilities equal access to our website. If you would like information about this content we will be happy to work with you. Please email us at: McKinsey_Website_Accessibility@mckinsey.com To read the article, see “Unbundling value: How leading insurers identify competitive advantage,” June 9, 2022.