Data analytics is helping agents identify opportunities to sell supplementary products to customers by more easily pinpointing their needs. (Credit: issaronow/Adobe Stock)
It's no secret that advances in technology have pushed those in the insurance industry to make major changes. A recent 2022 analysis released by Agentero explores four major trends insurers may see as we enter the new year.
Digital carriers will become household names
The days where customers had to visit a brick-and-mortar agency and meet face-to-face with an agent to purchase and manage their policies are over, and consumers are becoming more comfortable exploring new, digital carriers and more willing to purchase insurance products online. According to a November 2021 report from S&P Global, digital carriers Lemonade and Hippo saw the highest year-over-year growth in the industry for companies with at least $50 million in quarterly premiums.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
