Ryan Stein, of Insurance coverage Bureau of Canada, on the largest challenges and alternatives going through 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 business’s most profound thinkers. The place do they see the business’s largest alternatives and challenges? How can incumbent insurers place themselves in an more and more aggressive and dynamic enterprise atmosphere?
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 chief director of auto insurance coverage coverage and innovation at Insurance coverage Bureau of Canada.
What’s the largest problem going through insurers at present?
I feel it’s adapting to fulfill the altering wants of customers.
What’s the largest alternative going through them at present?
Assembly these altering wants of customers.
Honest sufficient. What traits do you assume needs to be on insurers’ radars proper now?
Change. Adjustments in mobility traits. How persons are getting round. Are folks nonetheless utilizing their vehicles? Are they utilizing ride-sharing? How will that change with car electrification and car automation? Do they personal vehicles? That each one impacts whether or not they purchase auto insurance coverage.
Proper. And what applied sciences can have the best impact on the business 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 experience sharing and will actually change how folks 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 vehicles, and the alternatives created by self-driving vehicles. 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 vehicles and different rising applied sciences.
What to do subsequent:
Contact us in the event you’d wish to be a visitor on the Insurance coverage Influencers podcast.
