With the loss of 100 years becoming a more common occurrence, insurers and governments are turning their focus to sustainability. More than ever, working together to reduce losses is in everyone's interest.
In this month's insurance news analysis, Abbey Compton and I discuss how governments and insurance companies are tackling the challenges of sustainability and resilience. The Davos agenda includes reaching underserved populations while promoting sustainability. And around the world, insurance companies continue to create ways to work with disaster relief tools to meet human needs.
After working in the insurance industry, I see the genuine empathy that the employees of carriers have for their customers in times of crisis. Unfortunately, the industry is still struggling to make that level of care visible.
New research from Guidewire shows that customers are skeptical about the value of insurance products and carriers' willingness to pay damages. The good news for the industry is that the same customers say they see value in usage-based insurance. This confirms that customers want a continuous commitment with insurers to reduce risk management.
The challenges of reinventing insurance in this way include having a workforce that can support it. Teleworking offers opportunities to meet both sustainability and inclusion and diversity goals. But with half of the insurance work retiring over the next 1
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