Optimizing claims processes should be one of the top priorities in an increasingly difficult insurance environment. (Photo: Shutterstock) Optimizing claims processes should be one of the top priorities in an increasingly difficult insurance environment. (Photo: Shutterstock)

P&C insurers face a myriad of challenges: dwindling pricing power, erratic investment yields, recent heightened catastrophe activity, and the still ongoing COVID-19 pandemic. Growing competition in the traditional products and services, coupled with weak demand, are expected to continue to push down rates.

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