Property and casualty insurance

A new report from Forrester examines the risks, innovations and technology landscape for insurance.

Global insurtech funding increased from about $917 million in the second quarter of this year to about $1.1 billion in the third quarter.

The top three companies have combined net premiums written of more than $53 billion.

In a report published Monday, the International Association of Insurance Supervisors outlined key areas where supervisors can help improve the affordability, availability and uptake of insurance against natural disasters.

The first step: every agency needs a disaster plan which outlines a course of action if an event occurs. Owners should identify the most likely disasters and determine key steps to take. Will employees evacuate or stay put? How will they communicate with customers? How can they begin working again?

Nationwide is partnering with Resideo Technologies to offer its thermostats, fire, smoke and water leak detectors, and related home security solutions to its policyholders in a pilot program starting in early 2024, with policy discounts for their use, according to company officials.

In other news: Betterview partners with Near Space Laps and CCC introduces new AI photo analysis.

Strategy executive Michael Mahaffey spoke about how the insurer's digital transformation is an ongoing effort, and the accelerated evolution of technology he sees.

As the insurance industry undergoes digital transformation, it has a unique opportunity to integrate diversity, equity and inclusion into its structure.

Insurtechs able to optimize the explosion of better data to accurately model and price risk, will become a vital link in the fight against climate change.