These factors should be considered and incorporated into strategies, and adjusted as needed throughout the year. These factors should be considered and incorporated into strategies, and adjusted as needed throughout the year. (Photo: Diki/Adobe Stock)

Every year presents risks for the P&C insurance industry — some more traditional, others new and emerging. SMA's annual research on the strategic initiatives of P&C insurers reveals that for 2023, the inexorable march to digital transformation will continue along with the expansion of channel options, enhanced coverages, new partnerships and more. However, this is juxtaposed against more cautious budgets and the pullback of some more innovative initiatives.

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