In the insurance world, 2024 brings forth many challenges and transformative trends. From the escalating global risks, such as climate change and cyber threats, to the evolving role of insurers as societal safety nets, the industry is on the brink of significant change. Here are five global insurance trends you must watch out for in the new year.
1. Investing in Proactive Risk Management
Insurers are pivoting towards proactive risk management, recognizing the increasing severity of global risks. It is no longer sufficient to look to reactive measures to reduce loss costs, instead the industry has turned its attention to the prevention of losses before they occur.
