A huge positive for the insurance industry this week with the CII reporting that nearly 90% of consumers were “satisfied with their recent insurance policy purchase”. An interview with specialists at McKinsey continues the good vibes as they discuss market opportunities for the coming year.
Consumer satisfaction with insurance reaches joint highest level (Source: ITIJ)
The CII reports that “86 per cent of consumers were satisfied with their recent insurance policy purchase.” CII Group Policy and Public Affairs Director, Dr Matt Connell, said “A guarantee for existing customers that they won’t be charged more than a new customer would have a real impact on public trust. Insurers should not be afraid to make a virtue out of a necessity.”
Risk briefing: lessons from Hurricane Otis (Source Strategic Risk)
After the category 5 storm that hit windspeeds of 165mph, this article from Moody’s RMS delves into what businesses can learn from such an event.
McKinsey’s view on the future of insurance and insurtech (Source: ITC Europe and DIA)
Experts from McKinsey see more success for insurtechs in the B-B market than the traditional B-C model and highlight the big opportunity across Europe due to underinsurance.
Emergent AI and potential implications for cyber, tec & media coverages (Source: WTW)
What are the inherent risks associated with emergent AI? Does traditional cyber, media and tech insurance fully address all AI risks? Find out the answers to both these and more in this WTW curated article.
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