Transformation is underway in P&C commercial lines — finally!
The nature and speed of the transformation will play out quite differently for small/medium/large commercial, workers' comp and specialty lines. And the stage of the transformation journey may be very different based on business strategies, the appetite for innovation, emerging technologies, InsurTech, and the geographic scope of the insurer.
Related: Consider business objectives before rushing to innovate
|Beyond business as usual
But the overriding theme is that commercial lines insurers are more aggressively looking to go beyond business as usual. They are rethinking business strategies to ensure growth and profitability while adjusting to the changes in the competitive and industry landscape.
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