insurance industry trends

As the COVID-19 pandemic shifts both geographically and in intensity, changes in consumers’ behaviors present financial services companies with new problems and new opportunities. The near-term impact will change the ways these companies interact with their customers, manage their employees, and respond to the market environment.

2020 has been a year of reckoning. Sustainability is now a business necessity, not just a differentiator. Finance and technology have important roles to play.

Even before the COVID-19 outbreak, our research showed that US consumers were facing multiple financial challenges and were worried about their financial situation. To see how the pandemic was impacting consumer finances and behaviors, we surveyed 1,122 US online adults in April 10–15, 2020 and found that US consumers: Are already feeling the impact of […]

Insurtech funding contracted last quarter amid economic uncertainty. As the pandemic and its aftereffects linger, the outlook remains unclear.

5G will let financial services firms step up their offerings for customers. But it will also increase competition in the sector. Is your tech strategy up to the challenge?

Forrester has curated a list of companies that are delivering virtual care services and support for health insurers, healthcare providers, employers, and consumers during the COVID-19 pandemic. While some vendors initially offered temporary discounts or free services, many have discontinued these practices. From self-triage to virtual care, these services allow healthcare organizations (HCOs) to screen […]

Hong Kong is one of the most sophisticated life insurance markets in the world, attracting thousands of customers from mainland China and many other places. In recent years, the emergence of digital-only insurers and tech giants has brought new elements to the fertile insurance landscape and challenges much old thinking. Let’s unveil three sacred myths […]

CPIC improves CX while saving up to $15 million by providing claims adjusters with an app that leverages computer vision.

In 2020, executives at insurance firms need to tie digital initiatives to revenue or risk seeing budgets slashed.

Principal Analyst Ellen Carney highlights three key points insurers should consider when evaluating automated underwriting solutions providers. Read the blog and then check out the latest Wave report.

In 2020, insurance companies will battle back against the market changes by focusing on three key areas. Read Forrester's predictions for the insurance industry here.

Tech-assisted agency distribution, AI-driven CX, streamlined discovery and fraud detection... the insurance industry is on the cusp of dramatic transformation.

By thinking like retailers, banks are leaving money on the table.

As digital technologies transform the insurance marketplace, how will the role of the agency evolve? Insurance professionals and solutions providers, learn how you can help shed light on where agencies are headed in a fast-changing landscape.

Shifts in the labor market, changing technology, and other forces have led small companies to rethink their insurance priorities. Providers will need to adapt.

Insurers are transforming their organizations with digital technologies. Drivers ranging from startup incubators and changing customer behavior to new risks and a potential recession are all influencing the tech investments from both carriers and agent/brokers. So just how likely is it that some of these big-buzz technologies will produce business value in 2020? Forrester is […]

Forrester has recently kicked off some new research focusing on services and companies that make financial decisions and take action on behalf of consumers. You can take a very short survey on this topic here. I’m psyched to present here our first FORR/3 video episode on this topic (see below)! In it, Oliwia Berdak and […]

Three central themes will define the quickly evolving future of insurance.