PwC Global CEO Survey 2013

By PricewaterhouseCoopers

Government and the global CEO: A new contract between business and the state

72% of government and public sector CEOs are somewhat or extremely concerned that fiscal deficits have risen.

Each year, PwC’s Annual Global CEO survey gives business leaders, governments and the world’s business community a unique insight into the vision and decisions of the global CEO. As in past years, we have extended and deepened the research for PwC’s 16th Annual Global CEO Survey by including a selection of interviews with senior decision-makers in governmental organisations across the world.

So, what are we exploring this year? Change and complexity are a constant challenge. Disruptive events, both ‘black’ and ‘grey’ swan, seem to be happening faster than ever and are changing the nature of risk which needs to be managed, in both the public and private sectors.

This report sets out how businesses are adapting their approaches in these uncertain times, including their priorities for government, and discusses in turn how governments can:

  • deal with uncertainty and create the conditions for good growth and jobs;
  • build resilience by becoming more agile; and
  • shift the mindset and engagement of public sector and business leaders from co-existence to mutual collaboration.

Deal with uncertainty
Uncertainty in the global economy continues to influence business confidence and investment. Last year, four out of five CEOs were concerned about uncertain or volatile economic growth and two thirds of CEOs were concerned about fiscal deficits, including countries not undertaking major austerity measures. This year, concerns about uncertain or volatile economic growth have stayed at the same high level, but concerns about fiscal deficits have risen further, with 71% of CEOs surveyed somewhat or extremely concerned. Read more >


Insurance: Confident outlook

Insurance CEOs are upbeat about their companies’ prospects – nearly 90% are confident about revenue growth.

But the survey raises some questions about whether their organisations are moving quickly enough to keep pace with the accelerating and potentially disruptive changes in the marketplace, many of which are being originated and shaped outside the sector. Only 16% are planning the fundamental strategic shifts that are likely to be required.

Industry in transformation
As our Insurance 2020 analysis highlights, insurance is undergoing a transformation in customer expectations. This is reflected in our CEO survey, with 58% of industry leaders expressing concerns about the shift in consumer spending and behaviour.

As the changes in customer expectations reshape the key competitive battlegrounds and business opportunities within the industry, nearly 90% of insurance CEOs are planning to change their strategies for managing customer growth, loyalty and retention (nearly 40% are anticipating major changes). Building the customer base and improving customer service are the top two priorities for investment.

Developments in technology are also changing how products are designed, underwritten and distributed and could open the door to new entrants. More than 80% of insurance CEOs are planning to increase investment in technology and more than 60% plan to develop their capacity for innovation. Perhaps surprising, most industry leaders say they are not concerned about the speed of technological change or the threat from new entrants. Read more >