Table of Contents
Key Takeaways
What makes the insurance industry unique?
- Insurance is one of the only products priced before the cost is known.
Policyholders pay up front, but insurers don’t know what claims will arise—or how much they’ll cost—until long after the policy is sold. - The product structure drives everything.
The product is a policy, the price is a premium, and the cost is fulfilling claims—known in the industry as indemnity and loss adjustment expense (LAE). Misprice it, and profitability erodes fast. - Capital requirements shape business models.
Because insurers need reserves to cover future claims, they often hold significant capital—which creates opportunities for investment income, but also makes the business heavily regulated.
What are the key trends shaping the industry today?
- Profitability is under pressure from all sides.
Executives are facing a triple squeeze: climate-driven catastrophes, inflation, and rising litigation. The result? An urgent push to contain both claim costs and operating expenses. - Claims cost control is the battleground.
Insurers are looking for tools that help resolve claims faster and more accurately—paying what’s fair, without overpaying or delaying. “Getting to a fair and accurate resolution quickly is the name of the game.” - AI and data are reshaping decision-making.
From pricing to claims to risk detection, insurers are leaning into AI. Whether it’s identifying unreported wood-burning stoves or using telematics to understand driver behavior, new data sources are giving insurers a sharper edge.
What does this mean for sellers?
- Legacy tech and data silos are real pain points.
Many insurers are still wrestling with disconnected systems and outdated tech stacks. Sellers who can work around these constraints—or help insurers unlock their own data—will stand out. “There really is no universal profile,” says Bryan. Even companies that look similar on paper can operate completely differently behind the scenes. Sellers who invest time in researching structure, culture, and decision-making dynamics earn credibility fast.
- Trust comes from doing your homework.
“There really is no universal profile,” says Bryan. Even companies that look similar on paper can operate completely differently behind the scenes. Sellers who invest time in researching structure, culture, and decision-making dynamics earn credibility fast.
Frequently Asked Questions
Written by
Steve Arnold is the Chief Revenue Officer and a founding team member of Primerli, a company dedicated to elevating professional learning through entertainment-quality learning content.
Steve’s expertise lies in building and scaling B2B solutions that address critical needs for large, global organizations. He’s now on a mission to equip Fortune 500s with the industry knowledge they need to dominate their competition.
He's a career entrepreneur, and before Primerli, he co-founded and successfully exited Edays, a global leader in employee time-off management. It was in this role that he realized how much added-value ‘industry knowledge’ brought to the success of sales & marketing teams.
Steve holds a law degree and an MBA from Warwick Business School, UK.
Keep in touch with Steve via https://www.linkedin.com/in/stevearnolduk/, he loves to talk about edtech, skiing, mountains, coffee, and of course, how Primerli can help your company level up!
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