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  2025-10-07

   

  173780580

     

    

   

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     Art Arakelian     

      

      Everything is way to overpriced will go back again but not my first choice 

    

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  2025-10-06

   

  173718601

     

    

   

        10 / 10     <!-- <i class="fas fa-external-link-alt"></i> -->   

     Sandra Koepel     

      

      Judy and the staff are amazing here I will always stay here, they go above and beyond to satisfy customers truely amazing people. 

    

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• e came at the end of Labor Day weekend for a 1 night stay. The staff was friendly and responsive to our needs and the room was clean and adequate with a very comfortable bed. The Lodge is centrally located on the main road of Grand Lake. It’s really more like a motel than a lodge. Perhaps because of the fact that it was the end of a holiday weekend, the room was not ready at checkin time and there was NO lighting outside the room (stairs included) at night. We used our phone flashlight to see! Maybe the town

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• hank you for taking the time to share your experience. We’re happy to hear our front desk team provided helpful service, but we’re sorry the rest of your stay didn’t meet expectations. Your comments about room comfort, amenities, and value are important to us, and we’ll review them carefully as we work to improve future guest experiences

• many of the most promising companies in insurtech 2. Source: Gartner, Compare AI Software Spending in the Insurance Industry, 2023-2027, 27 March 2024. 3. Source: Free Partners LLP, “The Re-Generation Report.” 4. Source: Accenture press release, “Poor Claims Experiences Could Put Up to $170B of Global Insurance Premiums at Risk by 2027, According to New Accenture Research.” 5. Source: Gartner, Top 10 Technology Trends for P&C Insurance CIOs in 2024, 18 March 2024, Sham Gill, James Ingham, Kimberly Harris-Ferrante. 6. Source: Deloitte, “The AI Imperative in Insurance,” March 20, 2024. 7. Source: SAS Institute, “Your journey to a GenAI future: An insurer’s strategic path to success.” 8. Source: Deloitte, “The AI Imperative in Insurance,” March 20, 2024. are AI-native platforms built to address insurance-specific challenges. For example, there are exciting platforms that leverage predictive AI to streamline claims processing by automatically flagging high-risk claims and fast-tracking simpler ones. One cybersecurity company leverages AI to pinpoint security vulnerabilities, model cyber breach scenarios, and quantify the overall cyber risk on a portfolio- and individual-policy basis.
• “Global AI software spending in the insurance market is forecast to increase 17.4% in 2024 to $9.5 billion and reach $15.9 billion by 2027, with a five-year CAGR of 18.2%.” 2
• With this necessary infrastructure emerging, insurance companies across the value chain can turn to AI to help alleviate industry challenges. Among them is a massive talent drain coming to the industry with waves of retirements expected in the coming years. The resulting vacancies will not be easily filled, as less than a third of young people surveyed recently in the U.S. and U.K. said insurance is an appealing career choice
• 94% of insurance CIOs saying that adoption of AI will
• be critical to success over the next five years

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• Overall, the non-life (P&C) insurance sector in the United States achieved a US$9.3 billion underwriting gain in the first quarter of 2024—a significant recovery from the US$8.5 billion loss in the previous year’s corresponding quarter.⁹ The industry’s combined ratio improved to 94.2% in the same quarter, year over year, driven by multiple rate increases in the personal lines sector, which outpaced claims costs.¹⁰

   

• Pretax operating income increased by 332%, to US$30 billion, in the first quarter of 2024, year over year, which was bolstered by underwriting gains and a 33% increase in earned net investment income.¹¹ The sector’s net premium growth of 7.4%, combined with a 2.2% reduction in incurred losses and loss-adjustment expenses, further strengthened its financial position in the same period.¹²

   
• As social inflation—the rising costs of insurance claims resulting from litigation over plaintiffs seeking large monetary relief for injuries—leads to larger settlements and jury verdicts, insurers appear increasingly compelled to bolster their liability reserve estimates.¹⁴
• For the first time in six years, worldwide insured losses from natural catastrophes surpassed US$100 billion without a single event causing over US$10billion in damages.¹⁷ This indicates a broader spread of smaller, yet costly, events
• To remain viable, insurers implemented higher-than-average price increases across many P&C insurance lines.¹⁹ Globally, non-life premiums grew by 3.9% year over year in real terms in 2023, partly because insurers increased rates to offset rising claims costs.²⁰
• Insurance regulators and several government entities around the world are asking for greater transparency from insurance providers in how they account for climate risks in their investment strategies. They are also focused on making insurance coverage accessible and affordable for consumers, especially those in more vulnerable communities.²³

• Profitability is expected to improve in the United States as well. Estimates suggest a reduction in the combined ratio for the non-life sector to 98.5% in both 2024 and 2025, from an estimated 103% in 2023.²⁹ The sector is expected to continue to benefit from deceleration in claims costs because of lower inflation, which decreased to 3% in June 2024 after reaching a peak of 9.1% in June 2022.³⁰

   
• a recent Deloitte FSI Predictions article revealed that businesses across all industries are investing in and deploying AI,³¹ and the liabilities arising from its use and development can potentially be massive for non-life insurers.³² The research predicts that by 2032, insurers could potentially generate approximately US$4.7 billion in annual global premiums from AI-related insurance, yielding a robust compounded annual growth rate of around 80%.³³
• Demand for customer-centric experiences has contributed to the popularity of embedded insurance (distributing insurance policies at the point of sale), which is projected to exceed US$722 billion in premiums globally by 2030.³⁴
• total US annuity sales increased 23% year over year to US$385 billion in 2023, led by a 36% jump in fixed annuities, to US$286.2 billion.³⁸ In the first half of 2024, total US annuity sales rose 19% to US$215.2 billion, year over year, with registered index-linked annuities and fixed-income annuities setting new records.³⁹ Even as the Federal Reserve signals cuts to interest rates, annuity buyers looking to lock in higher guarantees are now driving a further surge in sales.

• There are vast unmet needs for global life insurance and savings: In the United States alone, the mortality coverage gap is an estimated US$25 trillion,⁴⁷ while the current global retirement savings gap is around US$70 trillion.⁴⁸ Meeting these needs could be a large opportunity for insurers that effectively leverage digital advances.

   

• As employers across industries continue to face substantial competition for talent, more than 70% of respondents to a 2023 US consumer sentiment survey say their company’s benefits package is critical to attracting and retaining the best employees.⁶⁰ Likely because of this high interest, 51% of respondents to the same survey said their company will increase benefits offerings in the future.⁶¹ To take advantage of this potential uptick in demand for employee benefit offerings, carriers will likely need to find ways to stand out in an intensely competitive environment.

   
• a Deloitte Center for Financial Services (DCFS) survey of insurance executives found that the areas with the highest number of gen AI implementations to date were in distribution, risk management, and claims handling.⁶⁸

• There is also a growing trend toward developing data products, which means establishing a data environment to support use cases such as pricing optimization, fraud detection, segmentation, churn, and lifetime value. These data products are facilitated by data mesh architecture, which enables insurers to transition away from massive data warehouses toward a more compartmentalized approach that is tailored to specific business needs and can underpin scaling AI.

   
• Employees already perceive employers to be as much as 2.3 times less empathetic and human when AI tools are offered.⁷¹
• In the DCFS survey, prioritizing candidates with digital literacy and AI knowledge for new job openings was the top-ranked change that respondents are making in terms of how they manage and hire talent to prepare for the long-term adoption of AI,⁷⁴ Beyond technical skills, insurers will likely also need to hire for uniquely human capabilities such as imagination, curiosity, empathy, and analytical thinking to differentiate themselves because rote tasks could become increasingly automated.
• Over the past few years, the rise in extreme weather events, combined with high inflation raising the cost to repair vehicles, homes, and commercial real estate,⁷⁶ pushed claims losses to unprofitable levels in related lines of business.⁷⁷ To return to profitability, many insurance providers hiked premiums in impacted lines; some even retracted coverage altogether.⁷⁸ Faced with fewer options and rising costs of coverage, more and more customers are now at risk of being underinsured or uninsured

• Emerging technologies and alternative data sources are now available to help stem the mounting losses, which can benefit many stakeholders. Insurers should ensure these technologies and data sources are used properly and with transparency to build trust and be recognized as stewards of purpose.

   
• nsurers are also recognizing the importance of conserving natural capital to drive down claims costs. They may need to guide clients to move away from a linear economy (take-make-waste) to a circular economy approach (reuse-transform-recycle). Doing so can help foster an ongoing product life cycle,⁸⁴ ensuring that the parts used to repair damaged assets stay in circulation for a longer time. For example, some European insurers allow auto vendors to reuse spare parts for repairs, making the process environmentally friendly as well as economical.⁸⁵

• Many countries have already passed or introduced legislation that would implement Pillar Two tax rules, which require multinational organizations with €750 million or more in annual revenues to pay a minimum tax of 15% on net income earned in each country where they operate, adding an additional burden to insurers’ bottom lines.¹⁰⁰ Even if an entity’s jurisdiction of domicile has not adopted these rules, which is currently the case for insurers in the United States, a tax liability could still be due if they operate in a different jurisdiction that has adopted them.

   

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• • The Los Angeles wildfires in January 2025 contributed significantly to industry losses. The Q1 2025 loss ratio was the worst first-quarter performance for homeowners in over 15 years and the worst of any quarter since Q2 2011.
   
• General Liability
   The Q1 2025 general liability loss ratio was the second worst first quarter in 15+ years, less than a 1-point improvement from Q1 2024, and signifying continuing profitability concerns
• • Premium Growth Outlook:
     The overall 2025 net written premium growth rate is forecast at 6.8%, down 2.0 points from 2024, and the lowest since 2020. Personal lines growth is expected to exceed commercial lines by 1.5 percentage points in 2025, although the gap is forecast to narrow by 2027.
   

• Léonard said that increases in prices due to tariffs and other economic drivers have been most severe for personal auto, with the price of used cars and trucks increasing 7.7% in the first half of this year. The P/C industry typically lags the wider economy by one to two quarters, pointing to a potential broader economic contraction impacting the industry starting in Q1 or Q2 of 2026.

   

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• Trend 3: Embedded Insurance

  Embedded insurance – the integration of coverage into the purchase of another product or service – is becoming a powerful distribution strategy. It’s big business: According to KPMG, embedded insurance could generate over $700 billion in gross written premiums globally by 2030, including $260 billion from general insurance alone.

  Whether it’s travel coverage at checkout, renters’ insurance via an apartment app, or warranty protection for electronics, embedded offerings make it easy for consumers to secure coverage at the point of sale.

• This approach significantly expands reach and reduces acquisition costs by tapping into non-traditional channels. Instead of waiting for consumers to seek out standalone policies, insurers can deliver relevant coverage in the flow of commerce.
• Insurance for the Underserved and Gig Economy

• Insurers are responding with micro-insurance, on-demand coverage, and mobile-first platforms that reduce barriers to entry. For example, gig workers can now purchase short-term coverage for a specific task or shift, while mobile apps offer pay-as-you-go policies for health, accident, or property protection.
• Hyper-Personalization through Data Ecosystems
• By tailoring policies to individual needs, insurers can improve customer satisfaction and boost retention. A 2024 report from Accenture found that 77% of insurance customers are willing to share data from smart devices if it leads to lower premiums and better service.

• Digital Ecosystems and Insurance-as-a-Service (IaaS)

• According to Capgemini’s 2024 World Insurance Report, 61% of insurers are already investing in cloud platforms to enable real-time digital operations.

  Insurance-as-a-Service (IaaS) platforms are redefining how insurers build and deliver products. These cloud-native ecosystems provide modular services – such as policy creation, pricing, billing, and claims – accessible via API. By decoupling core functions from legacy systems, insurers can innovate faster, launch new products in weeks rather than months, and easily scale with demand.
• Cloud-native architecture is central to this shift. Unlike traditional systems, cloud infrastructure allows for real-time updates, rapid deployment, and seamless integration with partners or distribution channels

• Regulatory Technology (RegTech) for Compliance Automation

• These cloud-based platforms automate compliance monitoring, reporting, and risk assessments, helping insurers keep pace with changing rules across multiple jurisdictions. By integrating compliance checks into underwriting, pricing, and claims workflows, RegTech helps reduce manual overhead and the risk of costly errors or fines.
• Cyber Insurance Evolution
• The next phase of cyber insurance goes beyond financial protection. Increasingly, policies are bundled with cybersecurity tools like endpoint protection, threat monitoring, and incident response services. According to a 2024 report by Munich Re, nearly 60% of cyber insurers now offer bundled prevention services as part of their coverage. These integrated solutions help clients reduce risk upfront, making prevention a core part of the insurance value proposition.
• Climate Change Modeling

• Climate-related disasters – from wildfires to floods – are increasing in frequency and severity, straining insurers’ ability to model risk and maintain profitability. The Swiss Re Institute reported $108 billion in global insured losses from natural catastrophes in 2023, much of it from intensifying secondary perils.

  Insurers are responding with advanced data tools, including AI-driven catastrophe models and satellite imagery, to underwrite more granularly and adapt coverage in real time.
• The focus is now shifting from recovery to adaptation. Parametric products and climate-indexed policies are gaining traction for their speed and efficiency. Insurers are also encouraging policyholders to mitigate risk through actions like home retrofitting or sustainable infrastructure planning

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