Competition for customers and producers (including agents) is high; insurers continue to look for ways to improve the policyholder and distribution partner experience while creating competitive advantages through enhancements to products and services. Auto and homeowners insurers are facing rising loss costs and higher reinsurance costs and passing those on to consumers. Consumers, in turn, are shopping for cheaper coverage or, in some cases, opting for less insurance than they need for adequate financial protection.
This report provides an overview of personal lines operations and technology challenges, data about the marketplace, and more than 15 examples of recent carrier technology investments. It is part of a series on key business and technology trends in specific lines of business in the U.S. insurance industry and is based on the expertise of Datos Insights’ staff, conversations with Datos Insights’ clients and Insurance Technology Research Council members, and a review of secondary published sources.
Clients of Datos Insights’ Property & Casualty service can download this report.
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