Strategies for the “new normal” in personal lines insurance

Moving forward in the age of COVID-19

Overview

 

Overview

The COVID-19 pandemic brings unprecedented challenges across industries in ways not seen since the Great Recession, making it difficult to predict the full behavioral and economic consequences. As we continue to adjust to the “new normal,” it’s important to acknowledge the challenges created by the crisis and develop future-facing strategies.

We’ll continue to monitor the impact of COVID-19 on personal lines and update this page with resources to help insurers drive profitability and growth in the long term.

Webinar on demand

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Webinar on demand

Personal auto insurance – Trends, predictions, and strategies to compete in the new normal

Verisk’s vice president of personal lines auto product, Joel Camarano, and senior leaders in the insurance solutions group sit down to discuss trends from past recessions and provide strategies to help insurers adapt amid increased competition, new driving behaviors, and changing customer needs.

Re-imagine the insurer-lender ecosystem—ask about our no-cost trial

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Re-imagine the insurer-lender ecosystem—ask about our no-cost trial

Concerned about manual processes, business continuity, and the shift toward remote working environments? See how CV- VaaS™ (Verification as a Service), powered by Loan Verifier™, can help lenders and insurers digitally share lien, policy, and claims information using “multilingual” data innovations from Verisk. Contact us now to participate in a no-cost trial of CV-VaaS.

The latest insights for personal lines insurers

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Residential construction activity: An important indicator points the way for new business growth

The COVID-19 pandemic has slowed new residential construction, and property/casualty insurers are likely to see a similar trend in new business submissions.

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Great Recession Infographic—déjà vu for personal auto insurers?

The COVID-19 pandemic is bringing a “new normal” to personal auto insurance, with similarities and contrasts to the Great Recession.

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Moving forward in the age of COVID-19: Personal lines strategies for the “new normal”

How personal lines insurance carriers can adjust to the new challenges presented by the COVID-19 pandemic.

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Reconstruction costs tick upward as pandemic unfolds

Reconstruction costs continue to rise in the second quarter of 2020, based on interim data extracted to identify short-term impacts of the COVID-19 pandemic.

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Rethinking risk: The potential impacts of COVID-19 for personal and commercial lines loss costs

With much of the country closed for business due to COVID-19, many insurers face the question: How have these changes in activity affected insured risks?

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Will fewer drivers on the road mean lower auto losses? It depends

Fewer vehicles on the road may not necessarily lead to lower auto losses for insurers. Here's why.

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Addressing the challenges of COVID-19: From underwriting to claims

Learn how Verisk is responding to the COVID-19 pandemic with new insurance coverage options and resources.

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Additional resources

As the COVID-19 outbreak continues to evolve, Verisk experts are providing insights on the pandemic’s impacts to the insurance, energy, financial services, and other industries on our Verisk COVID-19 resource page.

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