US P&C Insurance Trends to Watch in 2024

To Regain Profitability, Insurers Go Beyond Digitization to Explore Innovative Tech

Property and casualty (P&C) insurers face the hardest market in a generation thanks to rising expenses, big claims payouts, and price-shopping policyholders. To renew growth, they must shift to a more proactive strategy and exploit new developments in auto, homeowners’, and renters’ insurance.

Key Question: What key trends are affecting P&C insurers’ profitability in 2024, and how should they respond?

Key Stat: Penetration in auto insurance has hit a ceiling just short of 77% in the US, pushing insurers toward innovative technology like AI underwriting and claim settling technology to retain customers.

Here’s what’s in the full report


Exportable files for easy reading, analysis and sharing.


Reliable data in simple displays for presentations and quick decision making.

Table of Contents

  1. Executive Summary
  2. P&C insurers are prioritizing profitability ahead of customer retention
  3. Rising auto premiums are pushing drivers to pare back on coverage or switch carriers
  1. Climate risk pushes property insurers from ‛detect and repair’ to ‛predict and prevent’
  2. Raising awareness of renters’ insurance will give insurers an on-ramp to future business
  3. P&C insurance marketers need to zero in on Gen Z’s preferences now
  1. Sources
  2. Media Gallery

Access All Charts and Data

Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry, included at no extra cost.


Sherry Fairchok


Suzy Davidkhanian
Principal Analyst, Retail & Ecommerce
Vivian Dong
Associate Forecasting Analyst
David Morris
Principal Analyst
Amy Rotondo
Director, US Research

"Behind the Numbers" Podcast