2024 US Insurance and InsurTech Trends

If you are keen on understanding the evolving Insurance and Insurtech landscape, we recently published a Trend Report and hosted a Webinar to discuss current Insurance and InsurTech Trends and Innovations in the US.

We covered 3 key topics

  • Insurance Trends
  • Tech and InsurTech Innovations
  • New Business Models

Here are the highlights

  • EV Impact on Repairs: Electric Vehicles (EVs), with their advanced tech and costly battery packs, can be up to 53% pricier to fix than non-EVs.
  • Climate Change’s Grip on Insurance: With increasing natural disasters, premiums are soaring and we are living a growing availability crisis. States like Florida saw a whopping 66% rise in 2022, while 4 larger insurers have stopped writing homeowner policies.
  • Shift to Pro-activity: The industry is moving from “repair & replace” to “predict & prevent”, harnessing the power of sensors, IoT, and AI.
  • AI’s Growing Role: AI is reshaping insurance – from hyper-personalized pricing to robust fraud detection and new customer experiences.
  • Pricing Sophistication: Data from smart homes, connected vehicles, market conditions, weather etc. give the power to insurers to dynamically optimize pricing and offer enhanced value.
  • New Business Paradigms: The trend of embedded insurance is on the rise, with offerings directly at points of sale. Plus, insurers are diversifying revenue streams and actively collaborating with startups to accelerate their digital transformation.

Get access to the complete Report at https://docsend.com/view/wsmqq2pzjya3s9au