Ryan Stein, of Insurance coverage Bureau of Canada, on the largest challenges and alternatives going through insurers as we speak—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 number of the insurance coverage trade’s most profound thinkers. The place do they see the trade’s largest alternatives and challenges? How can incumbent insurers place themselves in an more and more aggressive and dynamic enterprise setting?
We’re working laborious behind the scenes on season one. Within the interim, we’re sharing clips from a few of our interviews—particularly, how our friends answered the identical 4 quickfire questions.
First up: Ryan Stein, the manager director of auto insurance coverage coverage and innovation at Insurance coverage Bureau of Canada.
What’s the largest problem going through insurers as we speak?
I feel it’s adapting to fulfill the altering wants of shoppers.
What’s the largest alternative going through them as we speak?
Assembly these altering wants of shoppers.
Truthful sufficient. What developments do you assume must be on insurers’ radars proper now?
Change. Adjustments in mobility developments. 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 autos, I feel that’ll change the worth level for journey 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 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 take 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 in the event you’d prefer to be a visitor on the Insurance coverage Influencers podcast.