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Policy simplification is a first step toward a customer-centric insurance business model. (Shutterstock) Policy simplification is a first step toward a customer-centric insurance business model. (Shutterstock)

Across commercial property and casualty (P&C) insurance segments — small commercial, middle market, large commercial, and assumed reinsurance — there is an opportunity to break away from the fabric of traditional P&C insurance and develop truly customer-centric value propositions.

This is not a new concept, but current events have significantly accelerated the rise of the policyholder. As we gradually resume “normal” business activity, some insurers will retrench as they have after past catastrophes. However, the ones that invest in the most customer-centric approaches will be strategically victorious.

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