Insurers started 2022 in a position of strength and still are in a good spot to drive down costs and increase demand, unless rising claims costs and market volatility continue.
The latest results still show major problems, but they have some digital assets that could be of great help to an incumbent insurer, and for a modest price.
Carriers can bundle products, enable direct mobile sales channel distribution and offer relevant, affordable and flexible coverage to the underserved market of gig workers.
With increased adoption of APIs (application programming interfaces), embedded insurance products can seamlessly integrate into third-party buying processes.
Rising costs, general anxiety about the economy and a surge in relocation that began during the pandemic are driving insurance shoppers to seek more options.