The life insurance industry is facing increasing competition, digital transformation, and regulatory challenges. To thrive in the 2020s, insurers must focus on five key strategies: shaping new growth avenues, accelerating "bionic" distribution by combining human and AI capabilities, improving cost-to-income ratios through automation, maximizing the value of their in-force books, and retooling their organizations. Insurers will need to embrace technology, enhance their customer experience, streamline operations, and build agile, data-driven teams to succeed in this rapidly evolving environment.

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