In addition to inflation, which hit a 40-year high in the U.S. in 2022, auto insurers are also struggling to handle the rising frequency and severity of claims. (NATHAPHAT NAMPIX/Adobe Stock) In addition to inflation, which hit a 40-year high in the U.S. in 2022, auto insurers are also struggling to handle the rising frequency and severity of claims. (NATHAPHAT NAMPIX/Adobe Stock)

Based on industry and driving behavior trends, it's clear that auto insurance leaders — along with many other industry "captains" — are faced with rough waters as we kick off 2023.

To help navigate, here are three predictions to anticipate along with three ways leaders can choose to respond.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Personal Lines
Auto
Technology Solutions
Commercial Lines
Personal Lines