Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE’s insurance market architecture.
Motor insurance remains not only one of the insurers’ main business lines, but also one of the main interaction points with mass consumers, especially in the less mature markets. New technologies may provide significant means of gaining competitive advantage and retain the customers.
On the other hand, climate risks have always produced high impact events that are remembered as reference points. In the recent years their catastrophic nature became increasingly threatening for the communities’ resilience. By comparison, cyber risks are just emerging, but are already demonstrating a potentially catastrophic impact which still needs to be better understood and assessed.
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