Mid-Year 2022 Insurance Trends Predictions

Trends are constantly changing and reappearing in all areas of life, especially in the business and insurance industry. With 2022 reaching its midpoint, it is important for business owners to not only reflect on what they have accomplished so far within the year, but it is also important to understand trends that are on the rise in the realm of insurance.

As previously predicted for the beginning of 2022, a majority of insurers are still expecting a significant increase in economic recovery and more investments in technology. This is still a prediction although there are still some remaining concerns of the COVID-19 pandemic and its impacts on businesses and the workplace as well. 

Another trend that is increasing in significance this year is the need for cybersecurity and risk management. With the increasing occurrences of cyber attacks and hacking data from companies and insurance carriers, carriers should focus on expanding the level of coverage that they have. This will be in efforts to detect and prevent potential cybersecurity attacks to their insured business clients. 

Lastly, a customer-centric approach is also rising in popularity in the insurance and business industry overall. A customer-centric approach encourages the insurer to provide available opportunities for them to engage with the customer online as well as offline. Another key component of a customer-centric approach is ensuring that the customer is being supported throughout their entire journey, whether it be in person, over the phone, or through online resources.