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Insurers Are Taking Over the World

Paul Carroll, Editor-in-Chief of ITL

I thought I'd try something different this week: a series of shorter items rather than a longer exquisition. That's partly because I found a whole series of items worth pointing out but also because I need to note the news that sparked my headline about how insurers are taking over the world:

The stadium where my beloved Pittsburgh Steelers play will, after 21 years, no longer be called Heinz Field, after the local corporate food icon, and will instead be named after Acrisure, an insurance brokerage based in Grand Rapids, Michigan, that bought the naming rights. 

I had held out hope that the stadium would some day be named Hines Field, after longtime Steeler wide receiver Hines Ward, who, in my not-so-humble opinion, needs to be in the Hall of Fame, but I defer to the power of the insurance industry. 

Now, on to some developments on: how drones are being used to inspect power lines; how electric vehicles are reaching a tipping point that could have major implications for auto insurers; the arrival of a new generation of "digital assistants"; why insurance customers may cut spending; and how embedded insurance is providing what Swiss Re calls a "second act to insurtech."


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