Search
 

InsurTech Center

Commentary

Road to profitability: How are you adapting to radical changes in U.S. insurance?

As an industry, insurers have to ask themselves some tough questions now in order to navigate the future they all face.

By Bill Madison | November 15, 2023 at 12:07 AM
An illustration of a businessman holding a torch as he walks down a road toward a star. At a certain point, you have to launch and learn. What you will find is that the learning itself is what brings about real innovation. Photo: fotokitas/Adobe Stock

Change is always risky, but complacency during times of dynamic change is a larger risk to any organization. The winds of uncertainty are swirling around us with some hardening markets across the insurance landscape. The opportunity for change is right in front of us. Digital technology is accelerating change for the better and utilizing that technology to your advantage means taking new risks but reaping the rewards.

Our team talks a lot about challenging the status quo and constant improvement – thinking differently and challenging the insurance industry to think differently. We recognize it can be hard to take that first step, but there is never a perfect moment to embrace change. At a certain point, you have to launch and learn. What you will find is that the learning itself is what brings about real innovation. The sooner you start, the better positioned you will be heading into 2024 and beyond.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Recommended Stories

Complex Claims & Litigation Forum 2024Event

The conference experience aimed to help insurers and litigators Prevent, Prepare, and Prevail in complex claims cases and risks.

Get More Information
 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.