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3 key 2022 trends for AI and P&C insurance

Look for insurers to realize value from their AI initiatives on the cloud in 2022.

By Sankar Narayanan | January 17, 2022 at 12:00 AM
Insurers are starting to leverage the power of new sources of data to design new products and services, simplify distribution, improve fraud management especially in emerging areas such as cyber risk, reduce customer effort and reimagine business models. (kras99/Adobe Stock) Insurers are starting to leverage the power of new sources of data to design new products and services, simplify distribution, improve fraud management especially in emerging areas such as cyber risk, reduce customer effort and reimagine business models. (kras99/Adobe Stock)

From the ongoing effects of COVID to unprecedented wildfires, 2021 was chock-full of headaches for P&C insurers. And it looks like 2022 will continue to be just as hectic — if not more so.

P&C insurance has undergone a massive transformation over the last couple of years, and insurers have done tremendously well in many cases to adapt as quickly as possible to these changing market conditions.

 

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