Ryan Stein, of Insurance Bureau of Canada, discusses the challenges and opportunities facing insurers today, as well as the potential impact of mobility, automation, and sharing on auto insurance providers.
We are thrilled to announce the upcoming launch of the Insurance Influencers podcast. In this new podcast from Accenture, we will be interviewing some of the most influential thinkers in the insurance industry. They will share insights on the biggest opportunities and challenges in the industry, as well as how insurers can navigate the increasingly competitive and dynamic business environment.
We are currently working on season one behind the scenes. In the meantime, we are sharing clips from some of our interviews, specifically how our guests responded to the same four quickfire questions.
First up is Ryan Stein, the executive director of auto insurance policy and innovation at Insurance Bureau of Canada.
What’s the biggest challenge facing insurers today?
Ryan Stein believes it’s adapting to meet the changing needs of consumers.
What’s the biggest opportunity facing them today?
He emphasizes that meeting the changing needs of consumers presents a major opportunity for insurers.
What trends do you think should be on insurers’ radars right now?
According to Stein, current trends in mobility, such as ride-sharing and vehicle electrification, are crucial for insurers to monitor as they directly impact consumer behavior and auto insurance purchasing decisions.
Right. And what technologies will have the greatest effect on the industry in the next 10 to 15 years?
Stein highlights the potential impact of the intersection of automation and sharing, particularly with the integration of automated vehicles in ride-sharing services, which could significantly transform transportation and insurance pricing.
The Insurance Influencers podcast is set to launch in a few weeks, featuring three full episodes with Ryan Stein. The discussions will cover the challenges posed by self-driving cars to traditional auto insurance assumptions, as well as the opportunities arising from these emerging technologies. Additionally, a general framework for updating auto insurance policies for self-driving cars and other cutting-edge technologies will be explored.
What to do next:
Contact us if you’d like to be a guest on the Insurance Influencers podcast.