Ryan Stein, of Insurance coverage Bureau of Canada, on the largest challenges and alternatives dealing with insurers right now—and the way the intersection of mobility, automation and sharing might have far-reaching penalties for auto insurance coverage suppliers.
We’re excited to announce the approaching launch of the Insurance coverage Influencers podcast. On this new podcast from Accenture, we’ll interview among the insurance coverage trade’s most profound thinkers. The place do they see the trade’s greatest alternatives and challenges? How can incumbent insurers place themselves in an more and more aggressive and dynamic enterprise setting?
We’re working exhausting behind the scenes on season one. Within the interim, we’re sharing clips from a few of our interviews—particularly, how our visitors answered the identical 4 quickfire questions.
First up: Ryan Stein, the chief director of auto insurance coverage coverage and innovation at Insurance coverage Bureau of Canada.
What’s the largest problem dealing with insurers right now?
I believe it’s adapting to satisfy the altering wants of shoppers.
What’s the largest alternative dealing with them right now?
Assembly these altering wants of shoppers.
Honest sufficient. What traits do you suppose must be on insurers’ radars proper now?
Change. Adjustments in mobility traits. How persons are getting round. Are individuals nonetheless utilizing their automobiles? Are they utilizing ride-sharing? How will that change with automobile electrification and automobile automation? Do they personal automobiles? That every one impacts whether or not they purchase auto insurance coverage.
Proper. And what applied sciences can have the best impact on the trade within the subsequent 10 to fifteen years?
When automation meets sharing. So when ride-sharing entails automated automobiles, I believe that’ll change the value level for experience sharing and will actually change how individuals get from level A to level B.
Insurance coverage Influencers launches in a number of weeks, with three full episodes with Ryan. We’ll be speaking in regards to the assumptions that underpin auto insurance coverage, how these are challenged by self-driving automobiles, and the alternatives created by self-driving automobiles. We’ll additionally take a look at a common framework that insurers, regulators and governments can use to replace auto insurance coverage insurance policies for self-driving automobiles and different rising applied sciences.
What to do subsequent:
Contact us if you happen to’d wish to be a visitor on the Insurance coverage Influencers podcast.
