Six Things: December 21, 2021

The real threat to auto insurers. Plus, managing new age construction risks; the opportunity in ecosystems; emerging risks with long tails; and more.

Insurance Thought Leadership

December 21, 2021

The Real Threat to Auto Insurers

Paul Carroll, Editor-in-Chief of ITL

For decades, executives at auto makers have complained about all the revenue and profit they create for others but don’t get a taste of themselves. The manufacturer generates, say, $3,500 of gross profit on the sale of a $30,000 car while creating far larger opportunities for others — the commission paid to the dealer, plus revenue from repairs, service, insurance and more.

Auto makers have repeatedly tried to capture more of the downstream revenue related to car sales and are now taking dead aim at insurance. There’s reason to think they’ll make inroads, too, because insurance is increasingly based on data on driver behavior — and auto makers have easy access to all that data.

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SIX THINGS

The Opportunity in Ecosystems
by Toni Tomic

Ecosystems are laying the groundwork for a network-based economic order that promises to reshape our lives and our lifestyles as consumers.

Managing New Age of Construction Risks
by Michael Pignataro

While digitizing has improved customer The global construction market is set for a sustained period of strong growth post-COVID-19, with radical changes in design, materials and processes.

The Virtual Insurance Agent

Incumbents Are Slow on ‘Open Insurance’
by Maarten Bakker

Incumbent insurers and banks still seem in no rush to strengthen their currently weaker position to capture the value from Open Insurance.

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Insurers Must Bond With Agents
by Denise Garth

The future is going to include stronger insurer/distributor relationships. Agents want it. Insurers need it. Customers will benefit from it.

3 Powerful Data-Driven Strategies
by Leandro DalleMule

With super granular data continuously becoming more accurate and available, some companies will take advantage and win the market

Emerging Risks With Long Tails
by Donna Galer

Brokers and risk managers should prepare for possible claims many years from now related to climate litigation and "forever chemicals."

Read More

Soft Landing, Headwinds and Rebound

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Insurance Thought Leadership (ITL) delivers engaging, informative articles from our global network of thought leaders and decision makers. Their insights are transforming the insurance and risk management marketplace through knowledge sharing, big ideas on a wide variety of topics, and lessons learned through real-life applications of innovative technology.

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