Insurance News: The next horizon of expansion

As insurers look to the next horizon of expansion with an inclusive and diverse approach, there are a number of opportunities influencing scale potential including acquisitions, capital investments, the metaverse and the emergence of insurtech 2.0.

In this month’s Insurance News Analysis, Joanne Laffan and I discuss how a pre-scale insurer like Lemonade is planning to leapfrog its competitors through its recent acquisition of Metromile, a pay-per-mile car insurance company.

With the advent of Ethereum Merge in an effort to combat the carbon-intense energy consumption from blockchain in cryptocurrency, we discuss what it means for insurers’ capital investments as they’re trying to stay on top of both new technology and net zero targets.

We also discuss some of the early ways we expect to see the metaverse impact insurers’ operations and their customer and employee experiences. Plus we focus on the implications of so-called ‘insurtech 2.0’ which emerged as a hot topic of conversation at ITC 2022 in Las Vegas.

Finally, after a new U.S. House Committee report found there was little change in racial, ethnic and gender representation among employees at the largest U.S. insurers between 2017 and 2021, we discuss practices that insurers can implement to ensure inclusion and diversity is promoted.