Weekly Briefing - Oct. 10, 2022
Our weekly recap of top stories in the insurance industry, updated every Monday. Subscribe to receive notifications on the latest issue!
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???Insurance: bracing for claims inflation
Excess claims inflation has become a priority for insurers, requiring immediate consideration to prevent inaccurate reserves and challenges when adjusting claims, including under-insurance, gaps in cover, and unexpected claims.
???Millennials Are In Their Prime Spending Years: What Insurers Need To Know
As millennials increasingly reach life milestones such as getting married, buying a home, and driving a car, they need insurance. But only insurers who embrace the right technologies have the best chance of engaging with this generation.
???Responsible Use of Data in the Digital Age: Customer expectations and insurer responses
The Geneva Association examines how insurers can responsibly capitalize on the benefits of increased data availability to better serve their customers, without compromising on trust.
???Poor digital experience a pain point for some UK insurance customers
Inaccessible digital platforms and a lack of online service capabilities have impeded customer experience for UK-based insurers, making it both sobering news and an opportunity to offer a point of differentiation in the competitive market.
???From Climate Risk To Opportunity
While the double dose of climate regulations introduced by the SEC and NAIC may feel like an unwelcome burden for US insurers, it is a valuable opportunity to develop the tools needed to profitably move towards a low-carbon, climate-resilient future.
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