Stagnant, slow to adapt, anti-innovation—these are some of theterms often used by industry insiders and outsiders to describe theP&C insurance space (the world of auto, home and businessinsurance).

It is a convenient punchline, but a little overused andexaggerated in my view. It's true, many insurers have more to do inorder to capitalize on the latest consumer trends and adopt the newest technologies. Manynon-insurance companies have a lot to do as well. The situation isnot as dire as I hear from other commentators and there are severalexamples to demonstrate how responsive the industry has been torecent changes in the modern economy and technology landscape. Iwould like to point out a few:

• Response to ride sharing has been swift: Manyauto insurers have been actively following the progress of Uber andits competitors and have been relatively quick to create solutionsfor their ride-sharing drivers/customers. Remember, this is a newtype of risk—there is still not much data to entirely understandthe loss experience. However, it seems that every month there iseither a new insurer offering a novel coverage solution or anexisting player is expanding into new state.
• Drones to the rescue: Several insurers haveannounced plans to test this technology for use in the claimsprocess, as there is potential to make it more efficient and safer,notably in situations where a catastrophe or extreme weather hasoccurred. This is cutting edge technology that the private sectorhas only recently been able to leverage.
• Google Glass may have found its place:Speaking of the claims process, while this technology seems to havefallen out of favor among consumers, some insurers are exploring its use among claimsadjusters. Insurance professionals can more effectively recordand transmit accident information, creating a more seamlessexperience.