Alan Demers

In the face of ever-increasing premiums, auto owners are foregoing coverage, taking higher deductibles and not filing claims. This marks a profound change. 

Embedded insurance promises to disrupt insurance distribution as well as product and help close the “protection gap”--the 50% of all economic losses not covered by insurance.

In the oversaturated insurance conference landscape; which should you attend, and how can you maximize the experience?

For four years, the P&C market has been on a wild ride. And buckle up. A lot more ups and downs are coming.

The future of the insurance industry depends on how it responds to climate change.

The insurance industry can no longer rely on current strategies and responses to this threat, nor can it continue to absorb and pass along the associated costs to policyholders. 

The hard market/soft market cycle has reigned for decades, but COVID shocks and a host of new technologies may be ending it. 

Privacy violations related to personal information have serious implications for consumers, insurers and their supply chain partners.

Here are nine predictions for 2024, based on the certainty that few of yesterday’s approaches will be successful in tomorrow’s world.

Here is a sort of use-case wish list for AI in insurance, focused on the most repetitive and demanding claim functions.

New technology can detect crashes at all speeds--even below 25mph--without false positives. Massive changes will result.

Soaring combined ratios demonstrate P&C insurance is due for fundamental, structural reform. Innovative solutions are available. 

Companies must anticipate the future, innovate beyond their core and transform their capabilities as rapidly as technology allows.

The 125-year-old, $300 billion U.S. auto insurance industry is caught between runaway inflation and strained consumer wallets.

Some insurtechs will struggle, and there will even be some fatalities, but most are making the necessary adjustments and operating successfully.

Outsourcing has moved front and center as the P&C industry transforms to manage today’s new realities, but it has become much more sophisticated. 

No one is happy with the current, cumbersome approach to auto claims -- and a key technology has finally arrived that will digitize and speed the whole process. 

Insurers need partnerships with fully integrated national providers with deep expertise in medical, record and investigation management, bolstered by new technologies. 

Cloud-based platforms will let auto insurers make a critical pivot away from purely reactive claims response and processing to claims minimization and avoidance.

As digitization, mobility and connected vehicle technologies transform auto insurance, a better FNOL solution is now critical – and it's here.

Technology and weather science have evolved to help warn of approaching events, giving advanced notice to people to alter course and relocate to safety.

Insurtechs and carriers both need to take the time and make the effort to understand one another’s needs, capabilities, constraints and strategic objectives.

Here are our top wishes for 2022 that will alleviate barriers to innovation and adoption and foster breakthroughs.

For as much coverage as telematics has received for decades, its impact is just beginning to be understood.

Work will never resemble what it did in the past, and there will be no “all clear” signaling the end of the pandemic.

The connected insurance industry of the future will look nothing like it did in the last millennium.

The future of insurance as-a-service, especially for claims, requires an action-based model that leverages on-demand support.

If two or more insurtech solutions combine to solve multiple challenges, it is easier for insurers to commit.

The right approach to claims can turn average competitors into industry leaders and ensure longer-term success.