2022 Will Be a Year of Revolution in Insurance Product Creation
November 9, 2021 by Greg Murphy
As 2021, already a year of turbulence and change, draws to a close, forward-thinking insurers must avoid treading water if they want to succeed in today’s sink-or-swim market.
Editor’s note: This article is part one of a four-part series explores the changes coming to the product manufacturing process.
New and severe risks are evolving every day; the COVID-19 pandemic alone proved that beyond reproach. And other spaces, like risks in climate or cyber, are jostling for the top spot in the minds of insurers today as they plan ahead. In fact, cyber-crime costs the global economy $2.9 million every minute, and close to 60 percent of US businesses have had data compromised, a security breach or both. No wonder, then, that experts believe it to be an increasingly essential facet to the offering of any good broker.