On Tuesday 7 February 2023 at 3:00PM GMT, the Insurance team at GlobalData will host a webinar on how high inflation and the wider cost of living crisis are having an impact on the insurance industry and policyholders globally.

Click here to register, and find out:

1. How consumer purchasing behaviours are changing as a result of high inflation.

2. What growing prices mean for insurance penetration in the SME segment.

3. How inflation affects the insurance market.

Benjamin Hatton, Insurance Analyst at GlobalData, says: “Inflation is causing significant strain on the insurance industry as providers face both waning consumer demand and spiraling claims costs. Across all four of the primary personal lines of business (motor, home, pet, and travel), many consumers have already canceled policies, with more considering taking such action. Over 40% of former consumers in the home, pet, and travel lines indicated that they canceled their policy as a cost-cutting measure due to the cost-of-living crisis. With insurers likely to face significant losses in personal lines in 2022, this webinar will explore ways in which insurers can evolve and modernize their product offerings to meet customer demands in such challenging economic times.”

Register now for GlobalData’s, ‘Impact of Inflation in Insurance’, webinar, which takes place on Tuesday 7 February 2023 at 3:00PM GMT.