Exploring Insurance Market Dynamics: Insights from I.I.I. CEO Sean Kevelighan

The State of the Insurance Market

Sean Kevelighan, CEO of the Insurance Information Institute (I.I.I.), will be discussing the current state of the insurance market during a live webcast on May 20th at 11:20 a.m. ET. Kevelighan will address the financial performance of the insurance market over the last 15 years, with a special focus on rising auto costs and the leadership needed to sustain the business model, create jobs, and promote economic growth.

InsurTech and Digital Transformation

In addition to discussing the financial performance of the insurance market, Kevelighan will also touch on InsurTech and digital transformation in insurance. According to a recent report by PwC, the global InsurTech market is expected to grow at a compound annual growth rate (CAGR) of 46% from 2020 to 2025. This growth is driven by the increasing adoption of digital technologies and the need for insurers to innovate and stay competitive in a rapidly changing market.

Data-Driven Insights and Recommendations

Kevelighan's insights will be particularly valuable for insurance professionals, as they navigate the challenges and opportunities presented by the current market environment. For example, the rising cost of auto insurance has been a major concern for consumers and insurers alike. According to the National Association of Insurance Commissioners (NAIC), the average cost of auto insurance in the U.S. increased by 2.4% in 2020, following a 4.4% increase in 2019. To stay competitive, insurers will need to leverage data-driven insights and innovative technologies to offer personalized and affordable insurance products.

In conclusion, Kevelighan's webcast will provide valuable insights into the current state of the insurance market, with a focus on financial performance, leadership, InsurTech, and digital transformation. For insurance professionals, the webcast offers an opportunity to stay informed about the latest trends and developments in the industry, and to learn from one of the leading voices in insurance.