Globally, the P&C insurance industry is expected to see strong above-trend premium growth, according to projections from Deloitte, which indicated worldwide growth could reach 9%. Advanced markets are projected to see about half that growth rate, with an estimated increase of around 5%.
While the premium outlook is positive, the industry will continue to see challenges around attracting and retaining top talent and balancing the human touch with the latest digital engagement tools.
Along with these issues will come some emerging opportunities for insurers, including the chance to improve retention by offering transparency around how personal data is collected and used, Deloitte reported.
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