Climate/Resilience/Sustainability
The Uninsurable Future: The Climate Threat to Property Insurance, and How to Stop It | Yale Law Journal
ABSTRACT. Insurance is the climate crisis’s canary in the coal mine. Climate change, due to increasing greenhouse-gas emissions, is causing more extreme and severe natural catastrophes. Insurers respond to the substantial increase in property-insurance losses caused by these disasters by increasing prices and not writing or renewing insurance. State efforts to address the problem through deregulation of the insurance market, like Florida, or by allowing substantial rate increases, like California, do not address the underlying driver of the insurance crisis.
There are several measures that can help keep insurance available and affordable in the short to medium term. Insurer-focused policies include ending insurers’ financial support for the fossil-fuel industry, encouraging subrogation lawsuits against fossil-fuel companies, and requiring insurers to account for mitigation measures in pricing and underwriting. Land-use policy measures, like curbing development in high-risk areas while promoting building and development practices that reduce the risk of loss, will also help. Other state-level measures include strengthening the financial stability of residual markets through bond financing. There is also a need for federal involvement.
Congress should enact a federal reinsurance program for state residual markets and a subsidy program for low-income households to afford residual-market premiums. But the risk of loss from climate-driven events keeps climbing and will eventually overwhelm the benefits of these additional policies. The only long-term solution to preserve an insurable future is to transition from fossil fuels and other greenhouse-gas-emitting industries. WHITE PAPER
AI in Insurance
AI in Property/Casualty Insurance: Why Trusted Data Is the Missing Link
Artificial intelligence (AI) is moving rapidly from experimentation to execution in the property/casualty insurance industry. From AI-driven claims estimation to predictive underwriting and fraud detection, insurers are realizing tangible value in faster decisions, improved accuracy and stronger customer experiences. Yet, for every success story, there are stalled initiatives and missed expectations.
Executive Summary
Ajay Kelshiker, co-founder of InsurTech data and analytics software provider Percipience, believes the success of AI implementations in the P/C insurance space depends on having trusted, high-quality data. Here, he advocates for building a strong data foundation through modern architectures like Data Lakehouse with Medallion layers, Microsoft Fabric for unified analytics and AI, and Data Mesh for decentralized governance.
He also explains some simple explanations of these terms in a related article: Demystifying the Data Landscape: Lake, Warehouse and Lakehouse Explained
The difference often comes down to one critical factor: data readiness.
Most P/C insurers operate within a patchwork of legacy core systems (policy, billing and claims), bolstered by spreadsheets and specialized departmental applications. These siloed environments create inconsistent definitions, incomplete records and limited visibility across the enterprise. When AI models are trained on fragmented or poor-quality data, they inevitably underperform—eroding trust and slowing adoption.
Allianz could cut up to 1,800 jobs due to AI
Allianz reportedly has plans to cut between 1,500 and 1,800 positions from its travel insurance division over the next 18 months as a result of AI advancements. The eliminated positions will mostly be from its call centers, where the technology is quickly replacing manual processes.
Allianz Partners, a subsidiary of the company that deals primarily with travel insurance policies, reportedly said it is “leveraging AI” in order to strengthen its position in the insurance industry and improve its services.
The insurer currently employs approximately 22,600 people, with around 14,000 of those handling customer questions and claims by phone.
This news was originally reported by the Sueddeutsche Zeitung newspaper, citing company sources. The newspaper reports that these jobs will be culled from employees in Germany, France, Spain and Britain.
These potential job reductions follow an announcement from Allianz in June that it would eliminate 650 roles from its UK general insurance division by the end of 2025.
Allianz Partners reportedly receives around 200,000 calls from around the world each day, most concerning simple insurance and claim issues. However, in the future, many of these inquiries will likely be handled by automated AI tools.
2026 Outlook/Predictions
It's about long-term stability & resilience, not squeezing the lemon: Swiss Re CEO
After Swiss Re announced a net income target of $4.5 billion for 2026, which left some analysts underwhelmed, the reinsurer’s Group Chief Executive Officer (CEO), Andreas Berger, underlined the importance of growing at the right time and avoiding temptation.
This morning, the global reinsurer confirmed and increased some targets for next year, including net income of $4.5 billion, which while up on 2025’s forecasted $4.4 billion, is below what some industry analysts had expected.
In light of this, during the recently held Management Dialogue with analysts, CEO Berger emphasised that markets are tough, although added that the outlook is positive with a focus on strength and resilience at Swiss Re.
Berger’s opening remarks focused on temptations in the current market landscape, specifically the temptation for growth.
“At the moment, everybody thinks we have to grow. There’s so many opportunities, there’s so much demand in the market, so let’s go and grow. In our business, sorry to say, it’s a recipe for disaster. I have lived through many, many cycles… the characteristics are always the same. People go into markets, grow at the wrong time, I’ve seen this movie before… So, we have to be very conscious about this,” he said.
A New Divide Emerges: Majesco 2026 Trends Underscore the Strategic Need for Insurers to Transform their Business and Technology to Avoid the Risk and Impact of ‘Zombie’ InsurTech Dependency
Majesco, a global leader of cloud and AI-native insurance software for P&C and L&AH insurers, today announced the release of its latest annual trends report, 2026 Trends Vital to Compete and Accelerate Growth in a New Era of Insurance.
The new report highlights eight powerful trends that will shape strategy, operations, technology, growth, and profitability in the year ahead, offering a timely, practical roadmap for insurers navigating unprecedented industry disruption and change.
“As we approach 2026, insurers face a perfect storm of accelerating risks, shifting customer expectations, high expense ratios, and a rapidly advancing technology and AI landscape that is disrupting insurance,” said Denise Garth, Chief Strategy Officer at Majesco.
“Our new report underscores a critical message: traditional operating models and legacy technology foundations are no longer viable in this new era of insurance as they increase strategic and operational risk of insurers. In particular, the rise of ‘zombie’ InsurTechs who lack financial fortitude and profitable growth to invest and innovate their solutions with cloud and AI-native architectures that adapt to rapidly changing market demands. Insurers must act boldly and quickly in this new era of insurance.”
The report outlines eight disruptive trends that clearly articulate the difference between insurers prepared for the next era and those clinging to outdated business and technology foundations. The eight trends include high-performing operating models, cloud and AI-native intelligent technology foundation, AI strategy and intelligent tech for real business optimization, human-centric AI, zombie InsurTechs, the silver economy opportunity, E&S innovation accelerates growth, and predict and prevent creates real customer value.
2026 Outlook: Growth Through Strategic Insurance Partnerships | HUB International
What to Expect in 2026
- Profitability
- Expanding opportunity through strategic partnerships
- Vitality
- Keeping partnerships fresh, relevant and in step with insurance buyers
Research
UBI Solution Provider Awards 2025, part of PTOLEMUS UBI Global Study
[Ed. Note: Highly recommended]
We are pleased to announce the results of the UBI Solution Provider Awards 2025, part of PTOLEMUS UBI Global Study.
After evaluating 32 leading UBI and telematics suppliers around the world, our team identified the companies that demonstrated the strongest combination of technology, innovation, operational maturity and market impact.
These organisations stood out for their ability to help insurers deliver successful, scalable and data-driven UBI programmes.
➡️ Swipe through the carousel to discover the top performers across North America, Europe, the Rest of the World and the global data & analytics category.
Our assessment was carried out in full independence and based on a structured framework covering 8 capability dimensions and 37 sub-criteria.
You can find more information about the awards, the methodology, and the full ranking on our website - the link is available in the comments.
Congratulations to all of the winners! Cambridge Mobile Telematics; IMS; Arity; Lytx, Inc.; Azuga, Inc.; Nauto; Octo Telematics; The Floow; Targa Telematics; MUNIC; Geotab; Scope Technology; Sentiance; SambaSafety; Greater Than; Smartcar
IMS Receives Frost & Sullivan's 2025 North America Technology Innovation Leadership Recognition for Connected and Telematics Insurance
Frost & Sullivan is pleased to announce that IMS has received the 2025 North America Technology Innovation Leadership Recognition in the connected and telematics insurance industry for its outstanding achievements in leveraging data-driven solutions to enhance risk assessment, pricing, and customer engagement.
This recognition highlights IMS's consistent leadership in delivering measurable outcomes, strengthening market position, and driving customer-centric innovation in the increasingly competitive Usage-Based Insurance (UBI) landscape.
Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: business impact and technology leverage. IMS excels in both, demonstrating its ability to align strategic initiatives with market demand while executing them with efficiency, consistency, and scale.
"Beyond the technical layer, IMS focuses heavily on maintaining data integrity and addressing behavioral inconsistencies. The company has developed advanced normalization algorithms to account for differences in policyholder engagement and sophisticated app misuse detection capabilities," said Parduman Satpal, Industry Analyst at Frost & Sullivan.
Guided by a long-term growth strategy focused on digital innovation, proactive engagement, and scalable telematics solutions, IMS has shown its ability to adapt and lead in a rapidly evolving landscape. The company's strategic agility and sustained investment in connected insurance technologies have enabled it to scale effectively across North American markets. Its partner-led delivery model and focus on localized support have been key to delivering long-term value across diverse market segments.
Innovation remains central to IMS's approach. Its suite of software products and services—including smartphone-based usage-based insurance solutions, policyholder engagement and rewards toolset, and real-time behavioral insights—addresses the full spectrum of insurer and policyholder needs, offering flexibility, configurability, scalability and measurable safety outcomes.
On receiving the recognition, Paul Stacy, CEO at IMS, commented "To receive this level of commendation from Frost & Sullivan for a second year running is a source of real pride for our business, and testimony to the relentless efforts of the entire IMS team to being a world-class partner to our customers. We believe that the technological and market conditions for the genuine mainstreaming of 'connected' auto insurance have now been met, so to be at the forefront of enabling fairer-priced cover and creating safer roads is an exciting place to be for our business."
Business Leaders Elevate Social and Technology Risks Alongside Economic Concerns - Risk & Insurance
While the risk of economic downturn remains the top concern for G20 business leaders for a third consecutive year, misinformation and disinformation have entered the top five risks for the first time, according to the Executive Opinion Survey 2025.
The report, produced by the World Economic Forum in partnership with Marsh and Zurich, is based on a survey of more than 11,000 business leaders from 116 countries.
Risk Priorities Shift as Social and Technology Threats Emerge
The 2025 survey reveals a notable reshuffling of corporate risk priorities. After economic downturn, social risks now occupy the second and third positions, with insufficient public services and social protections ranking second, followed by lack of economic opportunity and unemployment in third place. Inflation, which held the third spot in 2024, dropped to fourth this year.
The most striking change, according to the report, comes from technological threats related to misinformation and disinformation, which claimed fifth place. This marks the first time such technology-driven risks have cracked the top five for G20 business leaders. Meanwhile, extreme weather events, which ranked fifth in 2024, fell out of the top tier entirely, the report noted.
(1) The "Insurance Shock" Reality: Why Climate Risk is Now a Financial Metric | LinkedIn
For decades, we viewed "weather" and "finance" as two separate pillars of the housing ecosystem. In late 2025, that distinction has all but evaporated.
Welcome to this edition of Property Pulse, where we aren't just looking at home prices—we are analyzing the hidden costs driving them. From the insurance shocks rattling the market to the resilience lessons learned from severe weather, today we explore why climate risk is no longer just an environmental concern; it is the defining financial metric of the coming year.
Top 10: InsurTech Vendors
The commercial insurance world is shaped by giants that underwrite the risks of global trade, manufacturing and commerce.
These firms distinguish themselves not just by size, but by their specialised expertise in areas like Directors and Officers (D&O) liability, complex property and casualty (P&C) risk and sophisticated reinsurance solutions.
The most successful services these vendors provide include multinational programme design, offering seamless coverage across various legal jurisdictions and advanced risk engineering that helps corporate clients prevent losses rather than just paying for them.
The most popular commercial services involve essential protections like Workers' Compensation for employee injury, General Liability against third-party claims and comprehensive Commercial Property coverage for physical assets.
This list profiles the top 10 global insurance vendors that cater specifically to businesses, recognising their immense financial strength and their innovative approach to managing the world's most challenging corporate exposures. Top 10
InsurTech/M&A/Finance💰/Collaboration
One Inc Partners with Benekiva to Deliver Fully Digital Claims Payment Experience
Collaboration Provides Digital Disbursement Capabilities for Fast, Frictionless, Transparent Payouts
One Inc, the leading digital payments network for the insurance industry, today announced a partnership with Benekiva, a leading insurtech dedicated to transforming claims management with speed, intelligence, and compassion. Together, the companies will deliver a fully digital claims payment experience for Benekiva’s carrier-policyholders, from first notice of loss through final payout.
Cyber Risk
CI: CAN INSURANCE SAFEGUARD YOUR IDENTITY AND SUPPORT RECOVERY
The following information was released by the National Association of Insurance Commissioners (NAIC):
Consumer Insight: Can Insurance Safeguard Your Identity and Support Recovery After Theft?
Shopping online for the best deals this holiday season? Even if you only buy gifts in person, your data could still be at risk. Between data breaches, email and text scams, and other cybercrimes, identity theft is on the rise.
The National Association of Insurance Commissioners (NAIC) and theNational Insurance Crime Bureau (NICB) share how you can keep your identity safe and the role insurance plays in your protection and recovery.
What is identity theft?
Identity theft occurs when someone uses or tries to use your personal information without permission. Criminals may try to open accounts, submit false insurance claims, or commit other crimes in your name. In 2024, the Federal Trade Commission (FTC) received nearly 10% more identity theft reports than in 2023.
How can I prevent identity theft and protect my information?
Use multifactor authentication and strong passwords. Multifactor authentication adds an extra layer of security to help prevent unauthorized access. Consider using a password generator and manager to create unique, strong passwords for each account.
Ignore suspicious calls, texts, emails and social media messages. Do not answer calls or respond to messages from unfamiliar people or numbers. Be skeptical of people claiming to have information about your loved ones. Legitimate organizations will not pressure you for money or personal information. Look for spelling and grammar errors, as these are common red flags for scams. MORE TIPS
People
Lumen Appoints Jim Fowler as Chief Technology & Product Officer
Lumen Technologies (NYSE: LUMN) today announced that Jim Fowler has been appointed Executive Vice President and Chief Technology & Product Officer, effective Jan. 5, 2026. Fowler will succeed Dave Ward, who is departing to assume the role of President and Chief Architect at Salesforce, the world’s #1 AI CRM. Ward will remain with Lumen through Jan. 23, 2026, to support a smooth transition.
Fowler will report to Lumen CEO Kate Johnson and will be responsible for Lumen’s global technology and product strategy, including the continued evolution of the company’s network, digital platforms, and product portfolio.
“Dave’s visionary leadership has laid a foundation that will influence Lumen’s trajectory for years ahead, and we thank him for his service,” said Kate Johnson, CEO of Lumen. “Invention is where value is born. Execution is where value is realized. Jim is uniquely suited to lead our technology and product teams as we unlock the value of Dave’s contributions, solidifying our transformation progress and returning Lumen to revenue growth.”
Fowler has served on Lumen’s Board of Directors since 2023, helping shape the company’s transformation strategy and technology roadmap. Fowler has stepped down from Lumen’s Board, effective immediately, in connection with his appointment. He joins Lumen from Nationwide Insurance, where he serves as Executive Vice President and Chief Technology Officer, responsible for the modernization of core technology capabilities, driving digital transformation of business operations, and scaling intelligent automation across the enterprise.