Ryan Stein, of Insurance coverage Bureau of Canada, on the most important challenges and alternatives dealing with insurers at present—and the way the intersection of mobility, automation and sharing may 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 a few of 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 most important problem dealing with insurers at present?
I believe it’s adapting to satisfy the altering wants of shoppers.
What’s the most important alternative dealing with them at present?
Assembly these altering wants of shoppers.
Honest sufficient. What developments do you suppose must be on insurers’ radars proper now?
Change. Adjustments in mobility developments. How individuals are getting round. Are folks nonetheless utilizing their automobiles? Are they utilizing ride-sharing? How will that change with automobile electrification and automobile automation? Do they personal automobiles? That each 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 trip sharing and will actually change how folks get from level A to level B.
Insurance coverage Influencers launches in just a few weeks, with three full episodes with Ryan. We’ll be speaking concerning 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 have a look at a basic 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.