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The World Property and Casualty Insurance Report emphasizes the effects of climate change on the insurance industry.

More publicly available digital information means underwriters have greater access to information on potential risk.

Nationwide recently announced a new partnership and the expansion of another as the company continues to grow its Internet of Things capabilities.

Many insurers anticipate an accelerated economic recovery, which can lead to additional digital technology investments in 2022. However, the challenges companies both big and small are facing due to a volatile risk environment continue to be both hurdles and motivators towards technology adoption. One of the pieces to help overcome these hurdles is talent.

As we look ahead, evolving technologies are presenting home and auto owners with new potential risks. Hacking and ransomware, once confined to computer networks, may become an endemic cyber vulnerability for our increasingly connected vehicles and “smart home” devices. Yet many of these same technologies could create new data sources and risk mitigation options for personal lines insurers.

New research from SMA shows that the plans and progress of some transformational technologies are accelerating ahead as others have hit the brakes.

Many of the opportunities that exist now and in the coming year are being shaped by the world around us and the uncertainty created by the pandemic.

It is no surprise that insurers are looking to health tracking technology to create new possibilities for accurate pricing and incentivizing better living.

Only 32% of 2,750 U.S. consumers surveyed by the company in fall 2021 had been offered telematics-based insurance, the company said. Of those that were offered, 49% took the offer, and 64% have stuck with it.

As the effects of the pandemic continue to play out, market activity indicates commercial lines insurers are reprioritizing their tech-oriented projects, with some plans continuing to move forward while others have slowed down.