Publication: IA Magazine
Date: January 16, 2019
The 2018 Future One Agency Universe Study identified the top five issues agents said they wish carriers would address:
- New insurance coverage and products to sell
- Cyber and data security
- Sharing economy
- Usage-based insurance
- Internet of Things for commercial lines
IA magazine talked to Erin Rodliff, senior vice president and general manager of U.S. business lines product at Liberty Mutual Insurance®, about the status of these trends and how they will shape the insurance industry in the future.
“The sharing economy poses an interesting conundrum to the insurance industry in terms of where liability sits and how this kind of sharing should be insured,” Rodliff agrees. “Things like ridesharing and home-sharing straddle the line between personal and commercial insurance, so they open the door to hybrid solutions and completely new products to cover this space. Given how quickly these types of sharing apps and services have grown, in the next two years, I expect we’ll see more companies coming out with new products targeted at these industries.”
Read the full article: Wish List 2020: What Your Carriers Have to Say.