Top Trends in Property and Casualty Insurance 2020

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This study provides an overview of the top trends in the property and casualty insurance sector for 2020 shaped by evolving risk scenarios, steep business competition, changing customer expectations, new regulations, and aggressive newcomers trying to establish their presence.

Within a somewhat harsh macro environment, the P&C insurance landscape is evolving quickly. Policyholders are looking for more personalized offerings through the platform/channel of their choice. Now, more than simply a concept, the sharing economy is gaining ground and opening new market opportunities for insurers. Non-traditional players have actively entered the insurance space.
As P&C insurers work to manage the evolving business landscape, they are taking steady transformational steps to becoming an Inventive Insurer by developing direct-engagement channels with customers. Moreover, insurers are leveraging AI-based tools to create auto-adjudication systems and techniques for quicker and more effective underwriting and claims processing. Firms are also developing sophisticated methods for understanding the evolving risk scenario to accurately price products and create customer awareness. These approaches can help insurers provide superior customer experience during critical moments of truth.
Top Trends in Property and Casualty Insurance: 2020 explores the innovative approaches future-focused insurers are taking to stay competitive within today’s dynamic business landscape.

Property and Casualty Insurance...

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