COVID-19 initiated or accelerated major changes in 2020 and 2021 – social, economic, political and technological. As societies begin to emerge from the pandemic, it is important for insurers to understand which trends will stick and how their businesses will be impacted. Our report sheds new light.

The study draws on 25 interviews with experts and industry executives and on a global customer survey of 8,000 insurance customers – both retail and commercial – across eight countries (Brazil, China, France, Germany, Italy, Japan, the U.K., and the U.S.).

Data from Internet of Things (IoT) devices are providing insurers with new approaches to insuring existing risks, as well as the opportunity to extend coverage to new risks. This report examines the shift towards IoT-enabled risk prevention and mitigation services in the insurance industry. Using a series of case studies to highlight the key components of successful services, the report aims to support the industry in its transformation and in promoting a healthier and safer society.

Risk prevention is inherent to insurance.

Pandemic business interruption risk is uninsurable by insurers alone, as it cannot be modelled and priced, it is systemic in nature, and maximum losses are not manageable from the insurer’s solvency point of view.

As evidence of climate change mounts and the world transitions to net zero, climate liability risks are evolving, too, with climate-related litigation cases increasing in number and ex