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Monday, 10 January 2022 18:31

Top 5 Trends Impacting P&C Insurance in 2022

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Welcome to the first CCC Trends report of 2022. CCC Trends highlights key developments impacting the Property & Casualty insurance and collision repair industries. We deliver news you can use monthly to help you make better business decisions and create better customer experiences.

Flashback 2021

 

It’s hard to talk about 2022 without a look at 2021 first.

 

We all experienced how COVID accelerated adoption of technologies like cloud, AI and mobile. We also saw the disruption in supply chains and the shortages of both materials and labor that emerged as the economy recovered.

 

But COVID also spurred innovation, whether in how businesses engaged with their customers, or the proliferation of new Advanced Driver Assistance Systems (ADAS) added to vehicles to improve safety and create better driving experiences.

 

With these innovations and others came new levels of complexity for the industry. And while the industry has begun to adapt, its future is still developing.

 

The Road Ahead

 

Which leads to 2022 and what appears to be another year of COVID uncertainty.

 

Here are the five big 2022 trends we’ve identified:

 

  1. The changing work landscape and its continued impact on auto sales, traffic volumes and accident severity
  2. The growth of Advanced Driver Assistance Systems and connected vehicle technologies
  3. Climate change and its emergence as a significant factor in the future of insurance risk and regulation
  4. New customer expectations in our on-demand, need-it-now world
  5. A carry-over from 2021: Increasing complexity given all these factors continuing to disrupt the status quo

 

1. The Changing Work Landscape

 

Let’s look at the changing work landscape and its impact on...


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