Ryan Stein, of Insurance coverage Bureau of Canada, on the largest challenges and alternatives dealing with insurers as we speak—and the way the intersection of mobility, automation and sharing may have far-reaching penalties for auto insurance coverage suppliers.

We’re excited to announce the upcoming launch of the Insurance coverage Influencers podcast. On this new podcast from Accenture, we’ll interview a number of the insurance coverage business’s most profound thinkers. The place do they see the business’s greatest alternatives and challenges? How can incumbent insurers place themselves in an more and more aggressive and dynamic enterprise surroundings?

We’re working arduous behind the scenes on season one. Within the interim, we’re sharing clips from a few of our interviews—particularly, how our visitors answered the identical 4 quickfire questions.

First up: Ryan Stein, the chief director of auto insurance coverage coverage and innovation at Insurance coverage Bureau of Canada.

What’s the largest problem dealing with insurers as we speak?

I believe it’s adapting to satisfy the altering wants of customers.

What’s the largest alternative dealing with them as we speak?

Assembly these altering wants of customers.

Truthful sufficient. What developments do you assume must be on insurers’ radars proper now?

Change. Modifications in mobility developments. How individuals are getting round. Are folks nonetheless utilizing their automobiles? Are they utilizing ride-sharing? How will that change with automobile electrification and automobile automation? Do they personal automobiles? That each one impacts whether or not they purchase auto insurance coverage.

Proper. And what applied sciences may have the best impact on the business within the subsequent 10 to fifteen years?

When automation meets sharing. So when ride-sharing includes automated autos, I believe that’ll change the value level for trip sharing and will actually change how folks get from level A to level B.

Insurance coverage Influencers launches in a couple of weeks, with three full episodes with Ryan. We’ll be speaking in regards to the assumptions that underpin auto insurance coverage, how these are challenged by self-driving automobiles, and the alternatives created by self-driving automobiles. We’ll additionally have a look at a normal framework that insurers, regulators and governments can use to replace auto insurance coverage insurance policies for self-driving automobiles and different rising applied sciences.

What to do subsequent:

Contact us for those who’d wish to be a visitor on the Insurance coverage Influencers podcast.