ISG Provider Lens™ Focal Points - Insurance Services - North America 2024

How to Get the Most Value From Insurance Services – North America

Traditionally, insurance carriers tend to be cautious and prudent, thoroughly examining claims before paying out. Yet market conditions are changing rapidly due to frequent and severe weather events from climate change, geoeconomic issues and evolving policyholder expectations. Carriers must keep pace, and some have begun withdrawing insurance offerings in select states. Carriers are capable of agility, as they proved resiliency by pivoting during the pandemic, said Lead Author Ashish Jharjharia, who wrote the ISG Provider Lens Insurance Services – North America report. “The business model has to change, as well as the risk-averse culture,while still remaining profitable,” he said.