Renowned experts on insurance, thought leader consultants and consulting futurist keynote speakers have all sorts of new developments in their sights. From AI to insurtech, a wave of emerging developments is quickly arriving on the horizon. Upon connecting with the best experts on insurance, we heard about all sorts of new areas of interest.

1. Artificial Intelligence and Machine Learning Integration
Influencers are closely watching the increasing integration of AI and machine learning in various aspects of the industry. New technologies are being used to enhance risk assessment, automate claims processing, detect fraud, and provide personalized customer experiences. Top experts on insurance are particularly interested in how AI can improve underwriting accuracy, speed up claims settlements, and enable more dynamic pricing models. Consulting firms are also monitoring the ethical implications and regulatory challenges associated with AI-driven decision-making in insurance.

2. Insurtech and Digital Transformation
The rise of insurtech startups and the digital transformation of traditional insurers is a trend that’s capturing significant attention. Leading experts on insurance are tracking how these innovative companies are leveraging technology to streamline operations, improve customer engagement, and create new insurance products. KOLs are particularly interested in the adoption of blockchain for secure data sharing, the use of IoT devices for real-time risk monitoring, and the development of on-demand insurance models. The potential for these innovations to disrupt traditional insurance business models is a big area of focus.

3. Climate Change and Catastrophe Modeling
With the increasing frequency and severity of natural disasters linked to climate change, experts on insurance are also following advancements in catastrophe modeling and risk assessment… and watching how insurers are incorporating climate data into their underwriting processes, developing new products to address climate-related risks, and working with governments on resilience initiatives. Consultants are also interested in how the industry is adapting to the long-term financial implications of climate change, including potential shifts in property insurance markets.

4. Cybersecurity Insurance Evolution
As cyber threats continue to grow in sophistication and frequency, experts on insurance consider the rapid evolution of cybersecurity insurance as well – and are monitoring how insurers are refining their cyber risk assessment methods, expanding coverage options, and developing incident response services. Folks are curious about how the industry is addressing challenges such as silent cyber risks in traditional policies and the potential for systemic cyber events that could lead to catastrophic losses.

5. Personalization and Usage-Based Insurance
The trend towards more personalized insurance products, particularly usage-based insurance (UBI), is garnering significant attention. Leaders contemplate how telematics and IoT devices are being used to offer pay-as-you-go auto insurance and behavior-based health insurance policies. Preeminent experts on insurance think about the adoption of wearable devices in life and health insurance, and how data from these devices is being used to assess risk and incentivize healthy behaviors. The privacy implications and regulatory considerations surrounding these personalized insurance models are also areas of intense scrutiny.

It’s amazing to see how much all are shifting how insurance is underwritten, priced, and delivered to consumers.