In today’s competitive landscape, the lines between product and price offerings among Asian insurers are blurring, compelling companies to find innovative ways to capture customer attention and secure their business. As a result, customer engagement and experience have become paramount to success. Despite insurers’ efforts to prioritize customer-centric approaches and…
As 2024 draws to a close, we are delighted to gather for the Insurance News Analysis year-end edition. 2024 set yet another heat record. And we are looking at a fifth consecutive year of more than $100 billion of insured losses from catastrophic events linked to climate change. We discuss how insurers…
As 2024 draws to a close, it’s a good time to reflect on what the insurance industry achieved, what surprised us and how longer-term trends progressed. From an industry results perspective, 2024 was a strong year. Buoyed by rate increases and continued (but diminishing) interest rates, carriers saw global insurance…
Insurers that focused on modernizing technology and improving their data, analytics and artificial intelligence (AI) capabilities are now able to incorporate generative AI (gen AI) as a natural next step on their reinvention journey. Gen AI is changing everything. It is being used throughout the value chain to improve customer…
Cyber is an expanding net-new growth area with opportunity to deliver a compelling insurance offering especially in the mid-market. Yet, the path to becoming a market-leading and profitable cyber insurer is fraught with challenges. In this article, we outline the essential strategies to develop a top-tier cyber offering, culminating in…
The brokerage market has enjoyed a period of sustained revenue growth, profitability, and shareholder value, driven by favorable macroeconomic conditions. M&A activity has flourished due to easy access to inexpensive capital on a robust cash flow business, while organic growth has been fueled by a hardening rate environment and inflation-driven…
Recently, many leading insurers have applied transformative solutions to enhance their cyber products. With the cyber insurance market projected to double to $29B by 2027, we explore what constitutes market-leading cyber claims management. In this blog we’ll delve into the complexities of responding to cyber claims, the essential skills required…
Personal lines insurance is very price-sensitive. As discussed previously, maintaining a 20+% expense ratio is not feasible for insurers. Beyond pricing, what truly fosters customer loyalty, and how can insurers compete to increase their market share? In this blog, I explore strategies for enhancing customer loyalty and retention, provide forecasts…
Personal lines insurance is very price-sensitive. As discussed previously, maintaining a 20+% expense ratio is not feasible for insurers. Beyond pricing, what truly fosters customer loyalty, and how can insurers compete to increase their market share? In this blog, I explore strategies for enhancing customer loyalty and retention, provide forecasts…
Personal lines insurance is very price-sensitive. As discussed previously, maintaining a 20+% expense ratio is not feasible for insurers. Beyond pricing, what truly fosters customer loyalty, and how can insurers compete to increase their market share? In this blog, I explore strategies for enhancing customer loyalty and retention, provide forecasts…
