2025 Trends Accelerating the Future of Insurance

Without the insurance industry, the economy would grind to a halt. Businesses and individuals would be challenged in managing risk, investing in their business or future to drive growth. Economic growth is a universal goal, and growth is driven by change. In fact, growth is change. Change means risk. That means risk needs to be managed to enable growth.

The risk-averse DNA of insurance and the focus on underwriting margins, profitability, and capital levels all manage financial risk but can impede and restrain change, including investment into the future through optimization and innovation. And while managing financial risk is crucially important, operational, and strategic risk are just as important to ensure long-term sustainable and profitable growth by focusing on technological and operational excellence, product innovation, channel optimization, and rethinking the business model to redefine how we do insurance in a world of constant change.

A new reality is taking hold. One that recognizes today’s operational models and technology foundation do not meet or keep pace with the challenges and opportunities of a fast-changing world and must move beyond the legacy and internal mindset of “this is how insurance is done,” to one that recognizes the world has shifted and insurance must as well. The legacy of the first InsurTech efforts – one of disruption – is only now being fully realized. But this is just the first wave of change and disruption, emphasizing the need to drive change in the business is more important than ever. Business operating models need flexibility, scalability and the kinds of technology capabilities that are available … now.

So, what are the trends for 2025? It feels different than past years. We are at another crossroads and potential tipping point. Customers are shifting and changing. Risk is changing and intensifying. Technology adoption is accelerating. The pace of events is increasing and intensifying. Just look at the last 5 years’ experience with an average of 15-18 billion-dollar disasters a year. This is unsustainable for the industry. And unsustainable for insureds.

Hear from this panel of industry and InsurTech leaders on the key trends for 2025 as they look through a lens that reflects this crossroads. A lens that adjusts the picture. A lens that sees the future differently. A lens that helps analyze and interpret the trends. A lens that helps us rethink and reimagine the future to make informed decisions that bring it to life.

Speakers
Denise Garth – Chief Strategy Officer, Majesco
Andrew Johnston – Global Head of Insurtech, Gallagher Re (USA)
Megan Kuczynski – Senior Strategic Advisor, Insurtech Insights
David Gritz – Co-founder, InsurTech NY