'Connected' Headline of the Day
May Day â or International Workers' Day â started in America. Here's the full history
The holiday commemorates labor activists' decades-long struggle to establishing the eight-hour workday.
The history of organized labor is long and brutal. The history of May Day, the holiday honoring the organized labor movement (it's also called International Workers' Day), was likewise born out of blood.
Older generations might connect May Day with the Soviet Union, with military parades and with communism, while younger generations may have not heard of the holiday at all. But, May Day was not created by the Soviet Union, for the Soviet Union or in the Soviet Union. May 1, International Workers' Day, was made in America.
The American labor movement in 2025 is a shadow of what it once was. It's certainly still capable of powerful things â take the 2023 Screen Actors Guild strike that shut down much of Hollywood for about six months.
Research
Capgemini: Demographic Shifts Force P&C Insurers to Evolve | InsurTech Digital
Ageing population and urbanisation create new risk landscapes for property and casualty (P&C) insurance sector, reports Capgemini study
The global property and casualty (P&C) insurance industry faces unprecedented transformation as demographic shifts reshape risk landscapes and business models, according to the World Property and Casualty Insurance Report 2025 from Capgemini.
The report highlights that by 2050, for the first time in human history, seniors will outnumber youth globally, excluding Africa. The population aged over 60 will grow by 72%, while those under 20 will decline by 16%.
This demographic transition drives three fundamental changes: an aging population increasing the dependency ratio, a higher concentration of urban dwellers creating unprecedented risk hotspots, and evolving consumer priorities shifting towards experiences rather than possessions.
âIn a historic first, senior citizens will outnumber youth globally by 2050 â excluding a relatively young Africa.
âThe ageing population will drive urbanisation and influence evolving consumer preferences; as a result, insurance structures will change across risk, protection, and service delivery,â says Kartik Ramakrishnan, CEO of Capgemini's Financial Services Strategic Business Unit.
2025 U.S. Insurance Shopping Study | J.D. Power
Erie Insurance Ranks Highest in Customer Satisfaction for Second Consecutive Year
The rate at which auto insurance premiums increased in 2024 declined to less than 2% at year-end from 13% at the beginning of the year. But, even as auto insurance customers in the United States have gained some pricing relief, the percentage of customers shopping for insurance year over year jumped to 57% from 49%, according to the J.D. Power 2025 U.S. Insurance Shopping Study released today.
âAuto insurance rate taking reached multi-decade highs in the first quarter of 2024, which put record numbers of customers into the market shopping for lower-priced policies as the year progressed,â said Stephen Crewdson, managing director of insurance business intelligence at J.D. Power.
âAs rate activity began to fall in the second half of 2024, many shoppers were successful at finding lower-priced policies. That combination of increased shopping and less rate taking created a bit of a snowball effect for much of the year, but we are seeing signs that shopping rates are starting to normalize. A potentially bigger concern for the industry right now might be the increased interest many consumers are showing in embedded insurance providers, like auto dealers, financing companies and manufacturers.â
Following are some key findings of the 2025 study:
- Insurance price volatility stirs surge in shopping activity: More than half (57%) of auto insurance customers have actively shopped for a new policy in the past year, the highest shopping rate ever recorded in the 19-year history of the study. Shopping rates were higher in Q1 2024, in line with record highs in insurance rates. As price increases slowed throughout the year, shopping rates increased.
- Stickier customers up for grabs: One-third (33%) of customers who are actively shopping for an auto policy are seeking to bundle their auto policy with a homeownerâs policy. Customers who bundle insurance have longer tenures with their insurer (7.0 years on average vs. 5.5 among those who do not bundle), which makes winning these customers a priority for carriers.
- Growing interest in dealer- and manufacturer-provided insurance: More than one-third (37%) of auto insurance customers say they are interested in embedded insurance, a form of auto insurance that is sold directly through the automobile dealer or manufacturer. Interest is highest among Generations Y/Z[1] (47%), and among those who say their primary reason for shopping their auto policy is service (48%).
- Usage-based insurance (UBI) sees a small resurgence: More often, insurers are offering UBI programs, which use telematics software to monitor an insuredâs driving style and assign rates based on safety and mileage metrics. This year, 17% offered UBI programs to shoppers, up from 15% in 2024 but down from 22% in 2023.
AI in Insurance
Insurance Customers Embrace AI When Clear Value, Benefits Shown: Survey
A new survey reveals that while 25 percent of U.S. adult respondents view AI use by insurers negatively, more than half (55 percent) are indifferent. But when AI delivers tangible benefits like faster and more accurate claims processing, customized quotes and improved customer service, customer acceptance increases significantly.
Global advanced technology services firm Genpact commissioned the online survey of 1,000 U.S. adults aged 25 and older to assess perceptions of AI adoption in the insurance industry. Conducted by Dynata, a global market research firm, the survey uncovers uncertainty around AI adoption within the insurance industry.
The findings emphasize an opportunity for insurers to shift perception and build preference and trust with their customers.
Bridging the Babel: How AI-Powered Voice Translation Will Improve Claims
An injured worker, distraught after an accident, struggles to explain the predicament to an adjuster in a language they barely speak. This scenario, while all too common in insurance, is about to change.
While our industry strives for inclusivity, the reality is that non-English speaking individuals often face significant hurdles when navigating the claims process. Reliance on third-party interpreters for translation services presents practical challenges. These professional services can be expensive, require advance scheduling thatâs difficult for claims staff to coordinate in real-time, and are subject to error introduced by paraphrasing and communicating technical terminology between languages. With the advent of artificial intelligence (AI), thought leaders are looking to an exciting innovation poised to bridge the language barrier and make claims processes easier for everyone: AI-powered real-time voice call translation.
Sean G. Eldridge is the Co-founder and CEO of Gain Life, a venture-backed insurance technology company that helps individuals and organizations return to health, work, productivity, and financial wellbeing.
InsurTech/M&A/Financeđ°/Collaboration
Experian Adds Root Insurance to Its Auto Insurance Portfolio
The latest addition to the Experian Insurance Marketplace expands affordable and personalized offerings for consumers
ExperianÂź today announced the expansion of its Experian Marketplace portfolio with the addition of Root Insurance, a leading technology company powering insurance solutions. This partnership gives consumers another carrier option for affordable and personalized car insurance with a streamlined shopping experience.
Shoppers who choose Root Insurance will be able to shop and switch to Root without the hassle of changing platforms, making the insurance process faster and more convenient for todayâs drivers.
âAs we continue to empower consumers with more ways to improve their financial health, we are excited to add Root Insurance to our marketplace,â said Rakesh Patel, Executive Vice President, ECS Marketplace at Experian. âRoot's innovative approach and customer-centricity align perfectly with our mission to provide a superior shopping experience and competitive rates that cater to consumers' needs.â
Earnix, the Category Leader in Dynamic AI for the Insurance Industry, Acquires Zelros to Transform Insurersâ Business Performance
Earnix, the leading Dynamic AI platform for Insurance, today announced that it has signed a definitive agreement to acquire Zelros, a pioneer in Generative AI for insurers and banks. This innovative collaboration will bring the power of predictive, generative, and agentic AI across the entire risk decisioning, personalization, and claims cycle, thereby enabling pricing and underwriting professionals to deliver compelling offers while improving business performance.
By combining Earnixâs advanced Predictive AI platform with Zelrosâs GenAI recommendations engine, providers can now present the right offer, at the right price, at the right time. The joint offering provides precise decision-making at scale in regulated environments for pricing and product managers, underwriters, and agents, ultimately resulting in higher conversion rates with better customer engagement and satisfaction.
Both companies bring demonstrated impact in supporting leading insurers and banks across the globe, including Aviva, AXA, BPCE, IAG, Generali, Matmut, Santander, and Tokio Marine.
"As a mutual customer of Zelros and Earnix, weâre excited about the acquisition,â shared StĂ©phane Muller (Chief Insurance Officer) and David Quantin (Chief Information Officer) of Matmut. âThe synergies between the two are compelling and will help us better meet our members' coverage needs and experiences."
Etico Financial Secures $10M Investment from Eos Ventures to Empower Modern Wealth Advisory
Funding will accelerate Eticoâs platform and position as best-in-class support for independent financial advisors
Etico, a modern wealth advisory platform specializing in bespoke support for independent financial advisors, closed a $10 million funding round from Eos Ventures, a leading global venture capital fund.
Eosâ investment will fund new technology development, marketing infrastructure, expanded advisor transition and back-office supportâstrengthening Eticoâs mission to help investors and independent advisors through all stages of their financial life.
âNew capital allows us to double down on what matters mostâsupporting remote, independent advisors who want to scale their businesses and deepen client relationships without being weighed down by operational burdens or the shifting agendas of aggregators,â said Joe Leo, Chief Executive Officer of Etico. âOur bespoke wealth management platform empowers legacy advisors to grow with confidence and transition their practices to the next generation of professionals.â
Zach Powell, General Partner at Eos, will join the Etico Board of Directors. âFrom the moment we met the Etico team, we were impressed with their deep domain expertise, go-to-market approach, and commitment to providing unparalleled service to independent advisors,â said Zach Powell. âEtico offers a modern platform for the leading independent advisor to attract, grow, and transition their practices.â Eos is the first institutional investor.
Commentary/Opinion
How AI and Insurtech Are Transforming Claims Operations in P&C Insurance | Guidewire
The P&C insurance industry is undergoing a significant transformation in claims processing, driven by artificial intelligence (AI) and insurtech innovations that streamline operations, enhance accuracy, and improve customer experiences.
With increasing claims volumes, rising fraud risks, and evolving customer expectations, insurers are embracing AI-powered technologies to adapt and remain competitive.
Why Insurers Are Turning to AI for Claims Management
By Will Murphy, Vice President, Technology Alliances, Guidewire
Meet the broker who's beating the chatbots at insurance
Clients arenât just buying insurance - theyâre buying trust. And increasingly, theyâre turning to independent brokers who still pick up the phone when it rings.
But that trust is being tested. Independent brokerages are navigating one of the most competitive eras in insurance history, as digital-first platforms and AI-driven insurtechs rapidly reshape the landscape. The global insurtech market is projected to reach $152.43 billion by 2030, growing at a staggering 52.7% compound annual rate, according to Grand View Research. That explosive growth is intensifying the pressure on traditional brokers to either adapt - or differentiate.
For Carrie Bernardo (pictured), managing director at We Talk Insurance and On Parle Assurance, the answer isnât to chase disruption. Itâs to lean into what independents have always done best: offering trust, expertise, and personalization.
âWe're taking the standpoint of rather than competing directly with these insurtechs and AI-focused companies, we're more concentrating on dealing with customers that have specialized needs,â Bernardo said. âWe're focusing on handling risk with complex coverage needs - high net worth individuals, those requiring specialty insurance.â
That pivot away from commoditized personal lines and toward high-value, tailored coverage is intentional. The brokerageâs strength doesnât lie in adopting every new tool - it lies in delivering the kind of subject-matter expertise and one-on-one service that larger players often overlook.
At a macro level, the need for re/insurance is increasing: Aon CEO Case - Reinsurance News
Regardless of the turbulent macroeconomic environment, the long-term trends, in terms of levels of risk, is on the rise, and as the need for solutions increases, there will be implications for demand and pricing of re/insurance, according to Greg Case, Chief Executive Officer (CEO) of global broking group Aon. Earlier today, insurance and reinsurance broker Aon released a strong set of results for the opening quarter of the year, with organic revenue growth across the business of 5% to $4.7 billion.
This was supported by 4% and 5% organic growth in the firmâs Reinsurance Solutions and Commercial Risk Solutions units, respectively, which helped the Risk Capital division generate revenue of $3.2 billion, up 7% year on year on an organic basis.
During the brokerâs Q1 2025 earnings call, CEO Case was questioned on the 5% organic growth within Commercial Risks Solutions, specifically how pricing and exposures influenced the expansion.
Acknowledging that pricing has been a key part of conversations of late, Case reminded listeners that its unit price and insured values, in terms of market impact.
âThough, I do want to highlight, irrespective of whatâs going on currently, the long-term trends here, long-term trends, this is critical, are increasing, in terms of levels of risk,â said Case. âSo, this is cyber, supply chain, weather, social inflation. So, at a macro level the need is increasing. That has implications on overall demand and pricing.â
The CEO went on to reiterate that Aon has described the current market as one that really reflects the current trading environment, which is generally more buyer friendly.
Announcements
Groundbreaking New Standard for Cross-Carrier Data Sharing Introduced by Shift Technology
IDN Delivers Actionable Fraud and Risk Insights From Shared Insurer Data
Shift Technology, a provider of AI-powered decision optimization solutions for the global insurance industry, today introduced the Insurance Data Network (IDN). The network allows members to benefit from industry-wide intelligence made possible through the collaborative multi-carrier exchange of claims and related data. By participating, insurers gain valuable insights and analysis to enhance fraud detection and risk prevention throughout the entire claims lifecycle.
IDN has rapidly gained acceptance within the industry and is now live and operational. Four of the top five U.S. property and casualty (P&C) insurers are contributing members, among many others. The network encompasses a substantial majority of U.S. auto and property claims across all 50 states, and its claims volume is growing quickly. In just the first few months, members have already identified millions of dollars in net new fraud schemes thanks to IDN's advanced fraud and risk detection capabilities.
IDN allows insurers to get more value from their data and a better understanding of the forces impacting their business
Canada
Carney's comeback: what it means for the P&C insurance industry
Insurers, brokers looking forward to speedy implementation of the Liberalsâ national flood insurance program
With the scope of the Liberal governmentâs minority now clear, Canadaâs property and casualty (P&C) insurance industry is looking forward to working with a more stable government â and one that intends to move forward on its promise to establish a national flood insurance program.
As of press time, with 99.93% of the votes counted, the Liberals are leading and elected in 169 of Canadaâs 343 Parliamentary seats, with 172 seats needed for a majority government, Elections Canada reports. The Conservatives are leading and elected in 144 seats, the Bloc Quebecois 22 seats, the NDP with seven seats and the Green Party with one seat.
The result was notable for the collapse of the NDP and a race between Canadaâs two main political parties â the Liberals and the Conservatives, as noted by CBC political commentators on the night of the election. With the vote now clear, Canadaâs brokers are calling for the parties to work together for the good of the country.
âThe results are clearly mixed and divided,â Insurance Brokers Association of Canada CEO Peter Braid told Canadian Underwriter in an email statement. âMoving forward, we need bold action to confront the economic challenges the country faces, and we call on all parties and levels of government to work together to ensure that we can emerge stronger than ever.â
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