World Insurance Report 2019: Insurers must respond to customer concerns around emerging-risk coverage

May 14, 2019

The report identifies five macro trends that are creating emerging risks for insurance customers and their businesses: disruptive environmental patterns, technological advancements, evolving social and demographic trends, new medical and health concerns, and business environment changes. Yet most insurers have been slow to respond to these trends and equip customers for them. Under 25% of business customers across all geographies, and less than 15% of personal policyholders, feel they have sufficient coverage to insure against any one of the emerging risks driven by these macro trends. Fewer than 40% of life and health insurers said they have built a pipeline of new products to cover emerging risks comprehensively.

Spotlight

NFP

NFP is a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates. Our expertise is matched by our commitment to each client's goals and is enhanced by our investments in innovative technologies in the insurance brokerage and consulting space. NFP has more than 4,700 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients' needs. We've become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.

OTHER WHITEPAPERS
news image

Broker Week 2022: A fine balancing act

whitePaper | December 19, 2022

Customers are now accustomed to digital-first interactions, with Gen-X in particular expecting a frictionless experience. As a result, brokers are having to rethink how they engage with customers in order to meet these expectations. Increasing competition from a fast-changing industry – through consolidation and new independent digital-only providers – means they must improve customer satisfaction to stay in the game. Ultimately, broker business success relies on engendering long-term relationships with customers (and partners) based on trust.

Read More
news image

Real-time analytics in insurance

whitePaper | August 31, 2022

Success in the insurance business depends on understanding, evaluating, and pricing risks. That’s hard enough in a predictable environment, but today’s insurance companies must now rapidly adapt to much more varied and unpredictable business situations than they could possibly have anticipated even a short time ago.

Read More
news image

Fleet EV adoption 2022: Are UK businesses adapting to the accelerated electric vehicle revolution?

whitePaper | March 10, 2022

Whilst largescale fleet and leasing companies are leading the ascent on new EV purchasing, a significant number of businesses are yet to introduce EVs to their fleets. This whitepaper focuses on how businesses are adapting to the accelerated EV revolution and attitudes towards electrification.

Read More
news image

The future of motor risk: Driver today, passenger next

whitePaper | September 26, 2022

There are several developments that continue to impact the automotive industry to a significant extent. Among these factors are the push by governments towards vehicles powered by new energies, the COVID-19 pandemic with its subsequent economic fallout – such as chip and raw material shortages – war, socio-demographic changes, and technological advancements.

Read More
news image

Digital claims - how can insurers best reap the benefits of digital claims for customers?

whitePaper | December 12, 2022

Digital claims processing offers significant benefits for both insurers and their customers. Based on this assumption, Post and PayPal held a roundtable to explore how the sector can keep up the momentum, and discuss what might be considered as a best-in-class experience for an online claims journey.

Read More
news image

Motor insurance fraud roundtable: Data and diligence, how can insurers combat any increase in criminal activity?

whitePaper | May 23, 2022

Insurance Post, in association with LexisNexis Risk Solutions, gathered experts together to discuss how issues such as ghost broking, the current limitations of benchmarking and fraud detection are pertinent to rooting out motor insurance fraud. This content provides a summary of the discussion.

Read More

Spotlight

NFP

NFP is a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates. Our expertise is matched by our commitment to each client's goals and is enhanced by our investments in innovative technologies in the insurance brokerage and consulting space. NFP has more than 4,700 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients' needs. We've become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.

Events