How does the insurance industry look back on 2023? And what is the outlook for 2024? To this end, Versicherungsbote sought discussions with the boards of directors of the insurers and managing directors of the pools. The answers reflect a wide range of industry topics, from inflation to geopolitical tensions to the impact of climate change on the insurance industry. However, looking back is by no means only determined by crises. Despite the multitude of problems or challenges that the past year brought with it, there is also great optimism. This also applies to new opportunities and business models – just think of the rapid spread of artificial intelligence and strong digital transformation.
Below we present the answers from Uwe Stuhldreier – Head of Sales and Marketing at HUK24.
Rückblick
The past financial year was particularly challenging for a motor vehicle insurer, and therefore also for the online insurance company HUK24. We are experiencing a historic development in claims inflation and the associated cost burdens in motor vehicle insurance. On the positive side, it should be emphasized that every fourth motor vehicle insurance policy is now taken out digitally and HUK24 is already the second largest insurer in terms of new business. We are pleased that HUK24’s unique growth will continue well above the market average in 2023.
outlook
At the top of the agenda is continuing to exploit the opportunities offered by digitalization. Specifically, this is certainly the expansion of HUK24 into a “personal insurance machine”. In 2024, digitalization and customer orientation will be our focus.
Since price increases in motor vehicle insurance were unavoidable, we have to be close to customers with our digital business model in the coming year. There are also some surprising product innovations to serve our customers digitally even more holistically.
2024-01-03 06:35:09
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