We discussed some vital predictions for the insurance industry this year in our previous BLOG. In this one, we have more insurance industry predictions to tell you!
Insurance Industry Prediction #1: Climate Risk Impact
With the recent news about the NASA scientist protesting about the climate crisis, to add to the two costliest natural disasters in 2021 recorded in the US, climate change is the key driver of a riskier and more complex property portfolio for insurers. With this, data needs for insurers around climate change will continue to grow.
Insurance Industry Prediction #2: Customer Centricity
Customer centricity around insurance will continue to be a top focus this year. Re-evaluating policyholder journey and considering consumer needs is of utmost importance. Insurers will have to meet consumer demands and adapt to find out where there’ll be in the future.
Insurance Industry Prediction #3: Data Privacy
Consumers are becoming increasingly sensitive about how their data is being used and collected. Insurers who are transparent about this will be able to increase trust among consumers.
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Learn more insurance industry tips here!
We frequently update our BLOG to bring you the latest news, tips, and industry-related information. You might want to read some previous articles related to the insurance industry below:
