Ryan Stein, of Insurance coverage Bureau of Canada, on the most important challenges and alternatives dealing with insurers immediately—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 upcoming launch of the Insurance coverage Influencers podcast. On this new podcast from Accenture, we’ll interview among 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 onerous 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 most important problem dealing with insurers immediately?
I feel it’s adapting to fulfill the altering wants of customers.
What’s the most important alternative dealing with them immediately?
Assembly these altering wants of customers.
Honest sufficient. What developments do you assume needs to be on insurers’ radars proper now?
Change. Modifications 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 may have the best impact on the business within the subsequent 10 to fifteen years?
When automation meets sharing. So when ride-sharing includes automated autos, I feel that’ll change the value level for trip sharing and will actually change how individuals 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 common 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 case you’d prefer to be a visitor on the Insurance coverage Influencers podcast.