Upward Price Pressures Shaping Prospects
Many industries are struggling to find their way in the current environment of elevated uncertainty and heightened risks. But for an industry that puts a price on risks, the next five years can be as profitable as any other.
What specific factors will drive insurance profitability and performance over the medium term? How far has the adoption of artificial intelligence tools advanced within the industry, and can they offer the boost in productivity anticipated? What effect will progressively costly and frequent extreme weather events have on insurability among Canadian regions, and what is deemed the industry’s greatest risk?
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