Ryan Stein, of Insurance coverage Bureau of Canada, on the largest challenges and alternatives going through insurers at the moment—and the way the intersection of mobility, automation and sharing might have far-reaching penalties for auto insurance coverage suppliers.

We’re excited to announce the approaching launch of the Insurance coverage Influencers podcast. On this new podcast from Accenture, we’ll interview a number of the insurance coverage trade’s most profound thinkers. The place do they see the trade’s greatest alternatives and challenges? How can incumbent insurers place themselves in an more and more aggressive and dynamic enterprise setting?

We’re working laborious behind the scenes on season one. Within the interim, we’re sharing clips from a few of our interviews—particularly, how our friends answered the identical 4 quickfire questions.

First up: Ryan Stein, the manager director of auto insurance coverage coverage and innovation at Insurance coverage Bureau of Canada.

What’s the largest problem going through insurers at the moment?

I believe it’s adapting to fulfill the altering wants of customers.

What’s the largest alternative going through them at the moment?

Assembly these altering wants of customers.

Truthful sufficient. What traits do you assume ought to be on insurers’ radars proper now?

Change. Modifications in mobility traits. How persons are getting round. Are folks nonetheless utilizing their vehicles? Are they utilizing ride-sharing? How will that change with car electrification and car automation? Do they personal vehicles? That every one impacts whether or not they purchase auto insurance coverage.

Proper. And what applied sciences can have the best impact on the trade within the subsequent 10 to fifteen years?

When automation meets sharing. So when ride-sharing includes automated automobiles, I believe that’ll change the value level for trip sharing and will actually change how folks get from level A to level B.

Insurance coverage Influencers launches in a couple of weeks, with three full episodes with Ryan. We’ll be speaking concerning the assumptions that underpin auto insurance coverage, how these are challenged by self-driving vehicles, and the alternatives created by self-driving vehicles. We’ll additionally take a look at a normal framework that insurers, regulators and governments can use to replace auto insurance coverage insurance policies for self-driving vehicles and different rising applied sciences.

What to do subsequent:

Contact us when you’d wish to be a visitor on the Insurance coverage Influencers podcast.