Property and casualty insurance

Consumers preferred to share data using smart devices in the home: 45% said they are happy to share information via Amazon Alexa, Google Home and the like. A little over a third of consumers (36%) said they were willing to share data through wearables or fitness health tests.

In other news: Embroker names new CEO and Swiss Re announced global head of property and casualty solutions.

Coterie Insurance, a small business insurance underwriter, is seeking to expand its ability to provide instant quotes and coverage with AI-powered data technology.

Digital Insurance's State of Insurance 2023 report also reveals that underwriting technology and staffing difficulties are top of mind for insurers.

Property and casualty players have struggled to maintain profitability as they deal with a greater frequency and severity of accidents, combined with higher costs to repair or replace damaged vehicles, as well as heightened costs linked to extreme weather events.

In other news: Chewy expands pet insurance nationwide and Tokio Marine launches a market intelligence platform.

As climate change continues to worsen extreme weather, damaging homes and wreaking havoc on crops, the need for more responsive insurance policies is growing.

Local embedded and microinsurance models could provide immediate assistance to vulnerable low-income communities at risk of extreme climate events.

Jim Ryan, who joined State Farm as an innovation executive at the start of 2023, spoke with Digital Insurance about his ideas for how to innovate technology and operations at the carrier, how telematics will continue to change auto coverage, and how tech advances can reduce risk.

Biodiversity — including pollinating bees, marine life, rainforests and agricultural soil — is declining at an unprecedented rate as a result of exploitation, land-use change, pollution and extreme weather.