Property and casualty (P&C) insurers face the hardest market in a generation thanks to rising expenses, big claims payouts, and price-shopping policyholders. To renew growth, they must shift to a more proactive strategy and exploit new developments in auto, homeowners’, and renters’ insurance.

Key Question: What key trends are affecting P&C insurers’ profitability in 2024, and how should they respond?

Key Stat: Penetration in auto insurance has hit a ceiling just short of 77% in the US, pushing insurers toward innovative technology like AI underwriting and claim settling technology to retain customers.