In 2024, the property and casualty insurance sector faces mounting pressures from inflation, climate-driven catastrophes, reinsurance market tightening, labor shortages, and rising customer expectations. To stay profitable and competitive, insurers must embrace operational efficiency, technology adoption, and business model innovation. Key trends include the rise of AI and GenAI for productivity, growing reliance on data, challenges in catastrophe risk management, and pricing pressures that may push some policyholders out of the market. Agile firms will outperform stagnant ones in an increasingly crowded and complex environment.

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