From the outcome of analytics, digitization and more exacting customer expectations to the disruptive effect of regulation, geopolitical instability and two-speed global economic growth, the insurance marketplace will look very different in 2021. Using the industry at a tipping point, the future is associated with businesses that can make feeling of the gathering transformation and act strategically rather than simply reacting to events.
While some of the drivers of alternation in the insurance industry are common to any or all business lines, we feel the impact is going to be seen in various ways and occur at different speeds. So what are the implications for every key insurance segment and just how can businesses take advantage of them?
Property and casualty personal lines
- A mixture of automated underwriting and competition from aggregators and new entrants will drive down prices and accelerate the commoditization of motor, property and other core business lines. Simultaneously, new opportunities
