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Instant Insights / P&C insurance outlook for 2023

Review what 2023 might have in store for the property & casualty insurance space with a suite of articles detailing expert opinions on topics ranging from insurance claims and insurtech to line-specific outlooks.

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Auto insurance in 2023: 3 predictions, 3 ways to respond

The year 2022 rocked the auto insurance industry’s boat, leaving all aboard concerned with what’s to come.

By Henry Kowal | January 11, 2023 at 08:00 AM
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In addition to inflation, which hit a 40-year high in the U.S. in 2022, auto insurers are also struggling to handle the rising frequency and severity of claims. (NATHAPHAT NAMPIX/Adobe Stock) In addition to inflation, which hit a 40-year high in the U.S. in 2022, auto insurers are also struggling to handle the rising frequency and severity of claims. (NATHAPHAT NAMPIX/Adobe Stock)

Based on industry and driving behavior trends, it’s clear that auto insurance leaders — along with many other industry “captains” — are faced with rough waters as we kick off 2023.

To help navigate, here are three predictions to anticipate along with three ways leaders can choose to respond.

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