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  "documentTitle": "Insurance reimagined 2025",
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      "text": "like manufacturing, retail and healthcare. There's also an expectation that insurers will need to play a larger role in making up for government shortfalls in climate change, elder care and healthcare. Collaboration will be crucial for the industry as it tries to solve for bigger systemic risks through public-private partnerships and build industry-level solutions. This collaboration doesn't mean competition will be diminished. As evidenced by more than US$10bn of investment by venture capital funds in insurtechs in 2021, new entrants are constantly trying to disrupt the industry. To keep them at bay, incumbents are flexing their scale advantage and the strength of their balance sheets while entering into partnerships with insurtechs to reinvent themselves. We see the emerging ecosystem of incumbents, insurtechs and big tech companies as an encouraging and much-needed boost for the industry.",
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      "text": "Note: Sums may not total 100 due to rounding and a small subset of participants who responded, 'Don't know.' Base: Insurance industry only (154). Source: PwC's Global Financial Services Survey",
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