Canada’s property and casualty insurance industry is poised for significant transformation in 2025.
Adopting and investing in integrated platforms that leverage artificial intelligence (AI), automation, data, back-end processes and client-facing tools will be crucial for brokerages and insurers.
These technological advancements will improve the experience for clients, industry employees and carriers, creating a clear divide between firms that embrace technology and those that do not.
Clients will notice marked differences in service quality, with seamless and integrated experiences. They will also gain a deeper understanding of their risk profiles by leveraging data and risk-mitigation technologies.
Carriers will face pressure to deploy capacity more profitably in 2025, leading to a ‘flight to quality.’ Risks backed by robust tools and technologies will be prioritized, and insurers will gravitate toward clients who fully understand their risk profiles and take innovative actions to mitigate risks.
Operationally, the skilled insurance workforce will continue transitioning from administrative task workflows to strategic, knowledge-based tasks. This shift may begin to redefine the industry, allowing employees to become more productive and, in turn, more valuable to brokerages and carriers that are positioned accordingly.
