The pandemic turned everything upside down in 2020, and the dust hasn’t settled yet. Will 2022 mark a return to normal life? Don’t bet on it! Expect the changes we’ve seen to continue accelerating innovation and technology in all aspects of insurance.
Here are 10 key trends and predictions to watch in 2022:
Economic recovery will seem to move at a slower pace
Tech projects will accelerate
Vendor-partner relationships intensify
Greater emphasis on culture and values
Enhanced focus on the entire customer experience
Getting the right data and the right to use it
“Telematics for people” makes inroads
Assume something has changed in policyholders’ lives
Cybersecurity will continue to play an enormous role
Carriers explore underwriting policies for a connected world
Who says insurance isn’t sexy? It’s possible 2022 will be the year insurers embrace their inner “Q,” the iconic James Bond character who provides gadgets to help secret agents face risky situations, with insurers providing confidence to policyholders instead. Opportunity awaits in 2022, and while anything can happen, insurers know better than anyone that it’s best to be prepared!