Predict & Prevent

AI is beginning to be incorporated into products and may take on much more sophisticated operational tasks, acting as a semi-autonomous agent for a user. 

"What happens if you set a region full of technology entrepreneurs and investors on fire? They start companies."

Facing increasingly unpredictable and destructive wildfires, insurers grapple with complex challenges in risk assessment, coverage, and claims response.

Despite the gloom and doom, there are numerous examples of companies achieving competitive advantage through their use of insurtech. 

This IoT has yet to realize its full potential but will allow carriers to focus on what insurance is intended to do – protect people and businesses. 

The International Insurance Society's annual survey found inflation is the biggest concern for executives worldwide for the third year in a row, while AI surged as a priority. 

In P&C insurance, the conversation is shifting from a pure buy-or-build dilemma to a more nuanced question: how much to build and what to buy?

It is crucial to work with policyholders to help them understand their unique risk exposures to storms and to help them navigate that risk.