Insurance companies are finding innovative ways of mitigating risks by re-inventing insurance offerings. This prevention-based approach creates more positive and profitable outcomes.
In this month’s Insurance News Analysis, Abbey Compton and I discuss ways insurers are working to mitigate losses. Amid a long-standing shortage of home healthcare workers, long-term care insurance is changing. Insurers are bringing new products to market that promote better health and longevity for their customers.
Insured losses in the U.S. from the month of March are expected to be over $1 billion according to Aon’s Impact Forecasting report. This may be unsettling for insurers bracing for summer in the Northern Hemisphere and the elevated risk of wildfires and hurricanes. AI is among the tools they will need to create new risk models for a changing climate.
We also discuss how automakers are edging in on insurance revenue opportunities and how insurers are responding to the cross-industry challenge of workforce gender equity.
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