Insurance Predictions in 2024 – Thematic Intelligence

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All the vital news, analysis, and commentary curated by our industry experts.

Accessing in-depth insights from the ‘Insurance Predictions in 2024’ report will help in:

  • Analyzing the major themes that will impact the insurance industry in 2024.
  • Identifying the top 15 themes impacting the insurance industry – Personalization, Wellbeing, Embedded Insurance, Insurtech, Parametric Insurance, Cyber Insurance, ESG – Environmental (Nat Cat), Electric Vehicles, AI, Big Data, IoT, Future of Work, Inflation, ESG, and Geopolitics.
  • Exploring a wide range of capabilities that insurers, reinsurers, and brokers can utilize to transform their services and processes, while potentially saving both time and money.
  • Evaluating a series of predictions as well as winners and losers for each theme.

How is the ‘Insurance Predictions in 2024’ thematic report unique from other reports in the market?

  • The report helps in understanding the most disruptive themes in insurance for 2024.
  • The report provides access to key predictions per theme and helps in creating strategies and tech decisions at your institution.
  • The report helps in recognizing which individual firms are best placed to win or lose amid predicted thematic impacts.

We recommend this valuable source of information to anyone involved in:

  • ​Insurance Companies and Start-Ups
  • Brokers/Agents, Financial Advisors; Underwriters/Insurers/Reinsurers
  • Insight Managers/Marketing Executives/Strategy Teams/ Investment Analysts and Portfolio Managers
  • Business Development and Market Intelligence
  • Professional Services – Investment Banks, PE/VC firms
  • M&A/Investment, Management Consultants and Consulting Firms

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Insurance Predictions Theme Analysis Report Overview

The top 15 themes in insurance predictions for 2024 are classified into three groups – industry, technology, and macroeconomic. The major industry themes impacting the insurance sector in 2024 are personalization, wellbeing, embedded insurance, and insurtech, among others. AI, big data, IoT, and the future of work are expected to be the most talked about technology themes in 2024. The major macroeconomic themes impacting the insurance industry are inflation, ESG, and geopolitics.

Insurance Predictions – Top Themes 2024

Insurance Predictions – Top Themes 2024

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The Insurance Predictions thematic intelligence report identifies the top themes that will impact the insurance sector’s growth in the coming years. For each theme, the report offers a series of predictions, identifies winners and losers, and points one to further reading. Moreover, the report assesses how leading players within the market are positioned for the future.

Report Pages 32
Regions Covered Global
Top Themes ·        Personalization

·        Wellbeing

·        Embedded Insurance

·        Insurtech

·        Parametric Insurance

·        Cyber Insurance

·        ESG – Environmental (Nat Cat)

·        Electric Vehicles

·        AI

·        Big Data

·        IoT

·        Future of Work

·        Inflation

·        ESG

·        Geopolitics

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Insurance Predictions – Top Themes

The top themes analyzed in the report are:

  • Personalization
  • Wellbeing
  • Embedded Insurance
  • Insurtech
  • Parametric Insurance
  • Cyber Insurance
  • ESG – Environmental (Nat Cat)
  • Electric Vehicles
  • AI
  • Big Data
  • IoT
  • Future of Work
  • Inflation
  • ESG
  • Geopolitics

Artificial Intelligence: The COVID-19 pandemic in 2020 and the cost-of-living crisis starting in 2022 created difficult investment environments in both years. Therefore, there were significant drop-offs in deals completed in 2020 and 2022. Although the cost-of-living crisis continued and worsened in 2023, the excitement around the application of generative AI in the insurance sector resulted in a surge in investment within the AI theme. Insurance industry insiders believe that AI will have the most positive impact in the underwriting and risk assessment segment of the value chain.

Inflation: Inflation and the cost-of-living crisis are the most immediate concerns facing the insurance industry. Currently, consumers and businesses have extremely stretched budgets. This is because expenditure increased at an unprecedented rate during the latter half of 2022 as well as during all of 2023, across the world. Insurers have been facing challenges to keep retention rates high even while pushing their rate rises to pay for their own running and staff costs.

ESG: In current times, ESG is an important factor for all consumers and businesses and there have been protests and demonstrations across the world focused on climate change challenges. Hence, any business seen as a laggard within this theme will start facing challenges while working with consumers and businesses.

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Scope

– The emergence of generative AI in 2023 has caused a great deal of excitement within the insurance industry. It offers a wide range of capabilities that insurers, reinsurers, and brokers can utilize to transform their service and processes, while potentially saving both time and money.

– The leading theme in the 2023 version of this report was inflation and the cost-of-living crisis and its impact continues to be felt across the insurance industry. As a result, keeping retention rates high across all product lines will be the key challenge for insurers going into 2024.

– Insurers need to combat climate change due to the cost they endure from severe weather events, but the most significant point in the short term is that action will be driven by consumer demand and insurers will need to be proactive as a result.

Aviva
AXA
Ping An
Zhong An
Zego
Metromile
Lemonade
By Miles
Swiss Re
Munich Re
Vitality
YuLife
dacadoo
Chubb
Aon
Allianz
Root
Zurich
Tapoly
FloodFlash

Table of Contents

  • 1. Executive Summary
  • 2. Top Themes for 2024

    • 2.1. Artificial Intelligence
    • 2.2. Inflation and Cost of Living
    • 2.3. ESG
    • 2.4. Cyber Insurance
    • 2.5. Personalization
    • 2.6. Internet of Things
    • 2.7. Wellbeing
    • 2.8. The Future of Work
    • 2.9. Electric Vehicles
    • 2.10. Big Data
    • 2.11. Embedded Insurance
    • 2.12. Insurtech
    • 2.13. Geopolitics
    • 2.14. ESG Environmental (Natural Catastrophe)
    • 2.15. Parametric Insurance

  • 3. Sector Scorecards

    • 3.1. Non-life insurance sector scorecard
    • 3.2. Life insurance sector scorecard

  • 4. Further Reading
  • 5. Our Thematic Research Methodology
  • 6. About GlobalData
  • 7. Contact Us

Frequently asked questions

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