The Connected Podcast: Navigating the Turbulent Waters of Insurance Welcome to the latest episode of The Connected Podcast—your go-to source for the pulse of the insurance ecosystem!  In this impactful segment, we delve into the increasing protection gap in the insurance industry, sparked by the rising frequency and severity of natural disasters. Our expert guest, Cameron Rye from the WTW Research Network, shared startling insights, including the $50 billion in claims from 2023's convective storms in the US. This paints a concerning picture of our changing climate and underscores the urgent need for proactive measures in risk mitigation and adaptation.  We also discuss Aon Plc's findings on the upsurge in severe convective storms and the urgent recalibration it demands in risk assessments and future scenario planning. With looming threats like the atmospheric river storm in California, which could amplify landslide and flooding risks, the insurance industry is at a pivotal moment to redefine traditional risk models and embrace innovation.  Further exploration into the insurance landscape reveals Citizens' insurance policy shifts, federal disaster aid evolution, and the delicate balance between insurers and reinsurers in the wake of new risks. Renaud Guidée of AXA XL Reinsurance spotlights how market realignments might prompt insurers to cover routine perils, while reinsurers tackle catastrophic losses.  The podcast also delves into the ripple effects felt in the collision industry, exploring the unique challenges faced with the rise of electric vehicles and the intricacies of car repairs. We hear from Ryan Mandell of Mitchell International and Ben Clymer, a Southern California body shop chain co-owner, as they discuss the soaring costs of repairs and its repercussions on insurance rates.  Shifting gears, our conversational journey encompasses global CEO perspectives with a touch of optimism amidst economic uncertainties, driven by the EY CEO Outlook Pulse survey. We discuss the proactive strategic moves CEOs are making, preparing their enterprises for transformative growth and M&A activities.  Rounding off the episode, we zoom into advanced coastal management with Ecopia AI's help and the glaring coverage confusion faced by gig economy drivers in personal auto insurance, featuring insights from Jesica Ryzynski of Mitch Insurance.  Tune in to The Connected Podcast to stay informed about the ever-evolving insurance industry challenges and the cutting-edge strategies shaping its future. Links:The New Normal: $100 Billion in Insured Nat Cat DamagesAfter $70 Billion Hit, Insurers Wake Up to Growing Risks of Severe Convective StormsCalifornia to Get Drenched From Fast-Moving Atmospheric RiverFlorida's insurer of last resort to continue offloading policies in 2024Reforms to US Disaster Aid Expose Growing Home Insurance GapThe market is gradually progressing towards adequacy and normalising: CEO, AXA XL Re CIECA: Collision industry trends to watch in 2024Here’s Why Your Car Insurance Bill Has Never Been More ExpensiveLoyalty Indicator & Shopping Trends (LIST) | J.D. PowerCEOs forecast increase in revenues, profits and deal making in 2024, as business transformation moves up the agenda | EY - GlobalHigh-Resolution

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