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Looming potential obstacles include hampered pandemic economic recovery and increased regulatory scrutiny.
Claims transformation should go beyond technological innovation to develop 'exponential' skills and teams.
Despite emerging challenges, independent agents are not likely 'going the way of the milkman' anytime soon.
Many chief sustainability officers working for insurance carriers struggle to overcome organizational hurdles.
Insurers recognize the need for innovative thinking and decisive action to become part of their core culture and business model.
Insurers should expect increasing pressure to go beyond risk assessment and reporting by taking a more proactive role in reducing carbon emissions.
Insurers may need to revise goals and strategies to address the growing array of social and economic challenges.
Insurers are more likely to grow and thrive when they invest in modernizing their underwriting function with new data and technology.
Consumers are willing to make an array of additional data available to insurers and other financial service providers.