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1、Scale for tomorrow,today World Report Series 2025Property and Casualty InsuranceThe aging demographic pivot demandsstrategic P&C insurance transformationWorld Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 20252Table of contents03Foreword04Ex

2、ecutive steering committee14Accelerate business model transformation:Changing risk patterns require urgent innovation06Executive summary26Scale for tomorrow,today:Building capability for an aging,urban world35Partner with Capgemini34Methodology33Conclusion08A rapidly aging population is reshaping th

3、e global economyCapgemini Research Institute 2025World Property and Casualty Insurance Report 20253Unprecedented demographic transformation is occurring worldwide.In a historic first,senior citizens will outnumber youth globally by 2050 excluding a relatively young Africa.The aging population will d

4、rive urbanization and influence evolving consumer preferences;as a result,insurance structures will change across risk,protection,and service delivery.Capgeminis World Property and Casualty Insurance Report 2025,our 18th edition,explores how the world will look in 2050 and what it means for insurers

5、.Demographic change will have far-reaching implications on where people live,how they move,and what they prioritize.The data tell a compelling story.By 2050,as the 60+population grows by 78%,the dependency burden on working-age individuals will increase by 63%,with every four workers supporting one

6、senior dependent.These demographic transformations challenge our existing societal systems.Further,nearly 70%of the global population will live in urban centers(up from 58%today),creating unprecedented risk concentrations.Consumer preferences will also evolve as aging populations prioritize experien

7、ces over possessions.These shifts will change peoples purchasing behavior,mobility patterns,and technology exposure,significantly impacting all major P&C insurance business lines.In auto insurance,changing mobility patterns will accelerate the transition toward commercial coverage models.Property in

8、surance will evolve from asset protection to resilience-based solutions that support aging-in-place options.Liability coverage will expand to tackle emerging risks associated with automation and an increasingly smaller and older workforce.Success for insurers in this transformed landscape requires a

9、 multi-horizon approach one that balances immediate performance with long-term positioning across markets undergoing different demographic trajectories.To thrive,carriers will have to adapt their strategies,enhance their operating models,strengthen risk management capabilities,and deploy capital str

10、ategically.They will leverage technology for efficiency and to develop advanced forms of protection that align with the evolving needs of customers and their risk profiles.In this ever-changing world with aging populations,the World Property and Casualty Insurance Report 2025 leaves insurance boards

11、 and executives with thought-provoking questions around market strategy,portfolio selection,operations,and the optimal balance of human and AI talent.I hope you find our actionable insights helpful as you navigate demographic changes and build sustainable growth.The road ahead presents opportunities

12、 for those willing to lead with empathy,embrace change,and create a lasting impact.ForewordKartik RamakrishnanCEO of Capgeminis Financial Services Strategic Business Unit Member of Group Executive BoardCapgemini Research Institute 2025World Property and Casualty Insurance Report 2025The Executive St

13、eering Committee participants of the World Property and Casualty Insurance Report 2025 includes top executives from leading insurance firms,technology leaders,industry experts,and influencers.We are grateful for their time,experience,and vision as they helped guide our reports content.4Executive ste

14、ering committeeInsurance FirmsEnrico San Pietro Insurance General Manager Unipol Vanesa Bustamante Chief Information Officer HDI Group Praveen SasidharanChief Insurance Services Officer Allianz ServicesSam Zhang Chief Operations Officer Zurich Hong Kong Matthew Jones Head of Ventures MS Transverse,M

15、S&AD Dean Brown Group Chief Operations OfficerEverest Group Joeri Jedeloo CIO,P&C and Income InsuranceNN Group Capgemini Research Institute 2025World Property and Casualty Insurance Report 20255Executive steering committeeTechnology Leaders,Experts,and Industry Influencers Rory YatesGlobal Chief Str

16、ategy Officer EIS Michael Kleiman Head of Macro Consulting,Americas Oxford Economics Frdric Prate Member,Scientific and Ethical CommitteeFuture4Care Jamie Macgregor Global HeadCelent Bryan Falchuk President&CEO PLRB Ralph Severini Global Leader,Commercial InsuranceAWS Sara Landini ProfessorUniversit

17、y of Florence Capgemini Research Institute 2025World Property and Casualty Insurance Report 2025By 2050,demographic shifts will fundamentally transform P&C insurance.For the first time in human history,seniors will outnumber youth with the global population aged 60+growing by 72%while the under-20 p

18、opulation declines by 16%,outside of Africa.This historic transition will create unprecedented risk landscapes and demand new insurance business models.Capgeminis 2025 World Property and Casualty Insurance Report explores how insurers can turn demographic change into a competitive advantage.A rapidl

19、y aging population is reshaping the global economy Three converging forces are redefining risk profiles and market dynamics:Aging population:By 2050,the global dependency ratio will rise to 26%from todays 16%level,meaning that for every 100 working-age people,there will be 26 seniors to support inst

20、ead of todays 16 a 63%increase sure to transform social structures,consumer behaviors,and economic patterns.Location changes:Urbanization will reach 68%globally by 2050,with almost half of urban dwellers over the age of 50.This demographic shift will create unprecedented wealth and risk concentratio

21、n in urban areas while reshaping mobility and housing needs.Consumer priorities:Demographics drive changing consumption,with 45%of consumers shifting spending toward experiences over physical goods;at the same time,70%do not plan to change their housing situation neither buying larger homes nor tran

22、sitioning from renting to owning.Together,these trends accelerate service demand from lifestyle experiences to aging-in-place assistance.These demographic forces intersect with two powerful agents:technological advancements will drive a 50%increase in output per worker by 2050 essential to maintain

23、economic growth with smaller workforces while climate change threatens these gains.Accelerate business model transformation:Changing risk patterns require urgent innovation Aging and increasingly urban populations create four critical insurance demands across personal and commercial lines:Enhanced s

24、afety and security:Continuous monitoring for aging homeowners and for businesses with maturing workforces.Reduced complexity:Simplified products for seniors and streamlined protection for age-diverse workers.Increased flexibility across life stages:Adaptable coverage evolving with changing personal

25、needs and workforce demographics.Personalized support beyond indemnity:Integrated assistance services spanning from ergonomic support for aging workers to home assistance for seniors.63%Increase in the global dependency ratio from 2024-20506ExecutivesummaryWorld Property and Casualty Insurance Repor

26、t 2025Capgemini Research Institute 2025Capgemini Research Institute 2025Commercial lines will grow at 4.4%annually through 2050,outpacing the growth of personal lines at 3.3%.This transformation creates specific changes across key business lines:Auto insurance:As populations age,mobility patterns sh

27、ift.Older consumers drive less frequently,retain vehicles longer,and increasingly rely on alternative transportation.Simultaneously,urban concentration reduces traditional vehicle ownership while increasing shared mobility solutions.These demographic shifts gradually transfer risk from individual dr

28、ivers toward vehicle manufacturers and service providers,transforming traditional auto insurance into mobility ecosystem protection.Property insurance:Aging populations and smaller family sizes transform property needs.Older homeowners,who are aging in place,require protection focusing on accessibil

29、ity and support to enable independent living,while the rise in single or two-person households drives demand for smaller dwellings and rentals with different risk characteristics.In commercial lines,changing workforce demographics transform space utilization patterns and building design requirements

30、,while organizations adapt to multigenerational workforces with different needs and preferences.Liability coverage:Workforce aging increases workplace injury potential and drives automation adoption,creating new exposures as humans and machines work together.Simultaneously,older consumers preference

31、s for services over products shifts liability risks from manufacturing defects to service delivery failures.Executive summaryScale for tomorrow,today:Building capability for an aging,urban worldGaining a competitive advantage in this landscape requires balancing short-term returns with long-term pre

32、paredness across three critical dimensions:Reassess strategy:Recalibrate geographic focus based on differential aging rates,develop age-sensitive service models,build ecosystem partnerships that address aging consumers needs,and beef up talent strategies as industry veterans retire.Enhance operating

33、 models:Deploy automation and Gen AI to compensate for expertise shortages and to drive efficiencies,build systems capable of handling large-scale claims,and reinvent the data model to incorporate more granular demographic insights enabling near-real-time decisions.Strengthen risk management and cap

34、acity deployment:Redefine underwriting models with aging-related factors,implement dynamic authority levels aligned with demographic portfolio conditions,and develop risk intelligence to optimize capacity across regions with different demographic trajectories.Success requires continuous evolution,no

35、t just one-time transformation.Boards of directors and executive committees must each address distinct demographic challenges:boards need to focus on strategic long-term“what”questions about market positioning and capability needs,while executive teams tackle operational short-and medium-term“how”qu

36、estions regarding implementation and execution.Forward-thinking leaders will address these demographic-driven questions to establish a sustainable,decades-long competitive advantage.701A rapidly aging population is reshaping the global economyWorld Property and Casualty Insurance Report 2025Capgemin

37、i Research Institute 2025Capgemini Research Institute 20259The P&C insurance industry stands at a historic turning point.The global population is undergoing a fundamental shift,with the number of individuals older than 60 expected to rise by 78%,while those under 20 declining by 2%.Looking outside a

38、 relatively young Africa,these shifts become even more pronounced as seniors will outnumber youth for the first time in human history;the senior population will rise by 72%and youth will fall by 16%.1 This demographic revolution,which was once primarily only a concern for life insurers,is now transf

39、orming risk landscapes and business models for the property and casualty insurance industry,challenging established market strategies,profitability models,and product offerings.Source:United Nations,Capgemini Research Institute for Financial Services analysis,2025Figure 1.An age pyramid shows a seni

40、or population rise and a youth decline in the futurePopulation,Billions%change inpopulation%change inpopulationAge1.321.301.271.341.231.100.980.680.451.331.341.221.201.010.880.640.380.1620-2930-3940-4950-5960-6970-7980+0-910-19SeniorWorkingageYouthGlobal20248.1620509.66Globalwithout Africa20246.6420

41、507.2+181%+79%+53%+25%+22%+12%+4%-3%-1%+170%+74%+44%+15%+9%-2%-12%-18%-13%0.800.820.850.980.950.910.850.610.420.921.000.961.000.870.790.590.350.1620242050World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 20259.66billionGlobal population in

42、 205026%Global dependency ratio in 2050(Up from 16%today)10An unprecedented aging evolution impacts risk landscapesBy 2050,the global population will reach 9.66 billion,up from 8.16 billion today effectively adding another China to the world.This growth brings with it a dramatic shift in population

43、structure with the global dependency ratio the proportion of seniors(65+)compared to the working-age population(15 64)surging to 26%,from 16%today.In practical terms,this means that for every 100 working-age people,there will be 26 seniors to support instead of 16,a 63%increase in societal burden wi

44、th direct insurance implications.Outside of Africa,the situation intensifies to nearly one dependent for every three workers.2 This shift creates a changing risk landscape for P&C insurers-altering property utilization,mobility patterns,liability exposures,and claim frequencies in ways that challeng

45、e traditional actuarial models.As populations age,insurers must recalibrate underwriting approaches,product design,and claims forecasting to address demography-driven changes in insurance fundamentals.World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Researc

46、h Institute 2025Nearly70%of the global population will live in urban centers by 205011“At the intersection of an aging population,shrinking labor market entries,and advancing technologies,a production shift driven by automation and innovation,requires insurers to consider liability when preparing ri

47、sk models.”Enrico San Pietro Insurance General Manager,UnipolUrban concentration creates amplified risk zonesNearly 70%of the global population will live in urban centers by 2050(up from 58%today),with almost half of urban dwellers older than 50.2 This unprecedented concentration of people,wealth,an

48、d infrastructure in vulnerable areas creates greater potential for catastrophic losses and requires an urgent adaptation of risk assessment and management practices in response.Olivier Guerin from Future4Care explained:“In the future,there will be an increase in migration toward urban areas,primaril

49、y driven by better access to healthcare for older populations,new economic opportunities,and better civic amenities.This will create new risk concentration pockets requiring insurers to adapt their business models.”Lifestyle priorities shift from ownership to experiencesAging populations tend to spe

50、nd more on experiences rather than assets,redefining insurance needs.Our 2025 Voice of the Customer Survey found that 45%of consumers plan to increase spending on experiences like travel and recreational activities,and 70%do not plan to change their housing situations whether it is homeowners stayin

51、g put or renters not buying.At Salesforce,Cathy Lanning,Managing Partner,Financial Services Industry Advisors and Business Consulting,said,“An aging population in megacities will drive consumer preferences toward stability and away from risk.This change will be driven by increased demand for long-te

52、rm care,a transition from homeownership to renting,and a preference for on-demand transportation over car ownership.World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202512Climate and technology are amplifying industry transformationThese

53、demographic shifts intersect with climate change and productivity gains.By 2050,98.5%of the global population will face drought risk,while 80%will be exposed to excessive precipitation.2 Climate impacts extend to productivity,with projections suggesting that extreme weather in some regions could ero

54、de up to 88%of future gross Total Factor Productivity(TFP)growth a measure of how efficiently an economy uses its resources like labor,capital,and technology.2Yet technology offers hope.Despite climate challenges,output per worker is projected to rise 50%globally by 2050,with China and India seeing

55、massive gains of 182%and 158%respectively.Mature markets will rely on AI and emerging technologies for up to 88%of their gross Total Factor of Productivity growth.2Adobes Suhas Krishna,Principal Insurance,Digital Strategy Group,said,“Climate risks will dramatically increase by 2050,potentially costi

56、ng trillions.Insurers must use technologies like IoT and telematics to predict extreme weather in real-time,safeguarding customers and managing these escalating risks.By harnessing data-driven insights and activating them in real time,insurers can better protect their customers and bottom line.”Geos

57、patial AI platform solution bolsters insurers capabilitiesAs the global population ages and cities expand,the risks posed by natural disasters and the aging infrastructure are growing exponentially.Insurers must now assess the impact of climate risk more precisely and in“near time”to keep pace with

58、its increasing complexity.Business challenge:Traditional methods of collecting data such as public records,on-site surveys,and inspections are outdated,expensive,and time-consuming.They can also cause inefficiencies in data management,risk of under-insurance,and poor insights into portfolio health,b

59、acked-up claims processing,and fraud detection.These challenges,along with delays in post-catastrophe response and the lack of synthetic data to model development,hinder timely decision-making and reduce operational efficiency in the insurance industry.Business solution:The geospatial platform Black

60、shark.ai enables insurers to process imagery and vector data from satellite,aerial,drone,and street-level sensors,as well as from cell phones.It leverages artificial intelligence(AI)to instantly identify geospatial features through real-time labelling and object segmentation,facilitating rapid AI mo

61、del deployment.The data can be scaled globally to create 3D replicas of cities,their underlying terrain,and land classification and users need no coding expertise.By generating highly detailed 3D models of areas,insurers can accurately analyze potential risks such as flood zones,earthquake and wildf

62、ire vulnerabilities,and building conditions to enhance their underwriting function.Using precise,updated imagery analysis,Blacksharks no-code AI can automate portfolio and property audits.It also enhances claims processing through rapid damage assessments,visualizing claims discrepancies by comparin

63、g pre-event and post-event imagery,thereby streamlining the claims process.Insurance use case:A major French Insurer wanted to confirm insured homes with existing swimming pools as recorded against“policies in force,”and to identify new pools,removing any under-insurance risk.Using near-time satelli

64、te imagery,pools were rapidly identified and data validated against existing policy address records via the insurers preferred geospatial platform.Blackshark.ai enabled the carrier to verify swimming pool data quickly,benefiting underwriting accuracy,removing unnecessary manual effort,and improving

65、risk assessment and policy compliance.World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202513“The aging population will strain fiscal systems and heighten dependency ratios,challenging economies to address global issues like climate chang

66、e.With anti-immigration sentiment limiting demographic buffers,productivity gains from technology and innovation will be crucial,though their pace remains largely unpredictable.”Michael Kleiman Head of Macro Consulting,Americas,Oxford EconomicsWhat does this mean for P&C insurance?As demographic shi

67、fts accelerate and intersect climate and productivity changes,we expect a GDP growth of 2.2%from 2024 to 2050 the lowest since the Great Depression in 1929.2 This transforms the insurance industry across three dimensions:Strategy:Dense urban populations create concentrated risk pools requiring new a

68、ssessment approaches and market positioning.Operations:Talent shortages accelerate the need for AI adoption and automation to maintain service quality with fewer and older workers.Product offerings:Evolving customer needs require fundamental changes to insurance solutions:Personal lines:Shifting pre

69、ferences will move coverage from asset ownership to usage-based protection,and with increased demand for assistance services tailored to aging populations.Commercial lines:Workforce aging and automation will reshape liability exposures and workers compensation models as risks transition from human t

70、o machine liabilities.University of Florence professor Sara Landini notes:“With the rise of smart homes and connected devices,insurers must focus on assistance rather than just loss compensation.Assistance-based contracts,once niche,are set to become central to P&C insurance in addressing critical c

71、ustomer needs,especially among aging populations.”World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202514Accelerate business model transformation:Changing risk patterns require urgent innovation02World Property and Casualty Insurance Repo

72、rt 2025Capgemini Research Institute 2025Capgemini Research Institute 202590%Proportion of intangible assets in the S&P 500s value today15Demographic shifts,particularly aging,fundamentally change how and where people live,reshaping risk landscapes.Forward-thinking insurers are transforming their bus

73、iness models by adapting to increasingly interconnected risks shaped by aging populations.As a result,they are unlocking growth opportunities in demographically favorable markets and designing products that address the experience-based needs of older consumers.Understanding the new risk landscapeThr

74、ee major shifts in the risk environment driven by demographic change are critical and must be addressed by P&C insurers:From dispersed to concentrated risks:As aging populations gravitate toward urban centers for part-time job opportunities,services,and experiences,their risk exposure becomes more c

75、oncentrated.Accumulated wealth among older urban center populations further magnifies potential losses,as illustrated by the outcomes of the 2025 Los Angeles wildfires(up to USD 164 billion in damages).3 From tangible to intangible risks:Aging societies value services and experiences more than physi

76、cal possessions,while businesses adjust their models to meet these changing preferences with shrinking workforces.These demographic-influenced trends accelerate the broader economic shift toward non-physical value creation,with intangible assets now representing 90%of the S&P 500s value,up from 17%i

77、n 1975.4 Matthew Jones,Head of Ventures at MS Transverse,MS&AD said,“The commercial insurance market is evolving with a shift from tangible assets,like factories and warehouses,to intangible ones,such as data and intellectual property MGAs and specialized insurers are at the forefront of this transf

78、ormation by deeply understanding niche risks,customizing policies,and providing services that align with the unique needs of modern businesses.”From isolated to interconnected risks.Aging populations increasingly depend on complex technology and infrastructure networks for mobility,home assistance,a

79、nd daily living.These interconnected systems create complex interdependencies that amplify risk.For example,the 2021 Texas power grid failure illustrates this:what started as a local infrastructure issue cascaded across communities and industries,resulting in around USD 195 billion in economic losse

80、s.5 These interconnected risks become particularly challenging in regions with rapidly aging populations,where system resilience is essential to community wellbeing.Vanesa Bustamante,Chief Information Officer of HDI Group said,“The future of insurance is interconnected leveraging real-time monitorin

81、g,smart technologies,and AI-driven insights to create seamless protection across homes,vehicles,health,and cyber risks.Insurers that embrace this shift will enhance risk prevention,improve customer engagement,and drive long-term competitiveness.Risk paradigm shifts demand innovative risk modeling ap

82、proaches.Our 2025 Executive Survey revealed that P&C insurers top priorities are integrating climate risk data(60%),deploying predictive analytics to understand cascading risks(57%),and modeling demographic factors to assess changing risk profiles(53%).Leading insurers are already acting on these pr

83、iorities:for instance,Allianz Partners India partnered with InsurTech CI Metrics to integrate AI-driven predictive analytics and advanced weather models into its roadside assistance services,enabling real-time forecasting of weather-related automotive breakdowns.6 World Property and Casualty Insuran

84、ce Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202516Premium projections to 2050:India will gain as Europe and Japan lose market shareThese evolving risk paradigms are reshaping premium growth through 2050.As populations age at different rates,market opportunities shift.

85、Commercial lines are projected to grow at 4.4%annually,outpacing personal lines at 3.3%.2 Demographics,climate change,economic development,and financial market maturity will all help to drive these trends.North America will maintain market size leadership in both personal and commercial lines due to

86、 its balanced demographic profile and strong economic resilience supported by strong productivity growth,technological innovation,and established financial markets.India will gain substantial market share across both lines with its younger population and economic momentum.China presents a demographi

87、c paradox:despite rapid aging,its commercial lines will expand significantly as economic development and urbanization outpace demographic headwinds.Meanwhile,Japan and Continental Europe which are both facing the most severe aging challenges will lose relative market share across both business lines

88、(Figure 2).2This demographic-driven market redistribution requires insurers to adopt nuanced portfolio strategies.Balancing exposure between high-growth transitioning markets with younger populations(such as Brazil and India)and high-value mature markets with aging consumers(like North America,Conti

89、nental Europe,UK,and Japan)will be essential for sustained profitability.Source:1.Oxford Economics,Capgemini Research Institute for Financial Services analysis,2025 Note:2.North America includes US and Canada;3.Continental Europe Includes France,Germany and ItalyFigure 2:Global P&C insurance premium

90、s in 2050Premiums in 2050,$T1Personal linesCommercial lines%change in relative market share,2024-2050%change in relative market share,2024-2050690%90%60%-60%30%0%0%2%4%6%8%10%12%0%2%4%6%8%10%12%-30%China,0.32 China,0.39 North America,2 1.28Continental Europe,3 0.21%CAGR of premiums,2024-50%CAGR of p

91、remiums,2024-50Japan,0.05Japan,0.06North America,2 1.73Continental Europe,3 0.25UK,0.1 UK,0.15 Brazil,0.04 Brazil,0.05India,0.08India,0.18240%90%60%-60%30%0%-30%Developed marketsTransitioning markets?World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research

92、 Institute 202517Achieving growth demands swift evolution of product architectureAs populations age and urbanize,evolving customer needs drive fundamental transformation in insurance product architecture(Figure 3).These demographic shifts create four critical market demands that will reshape both pe

93、rsonal and commercial offerings:Enhanced safety and security:Aging populations and urban concentration demand continuous monitoring and rapid response capabilities.Real-time risk monitoring through connected devices becomes essential for early intervention,both for older individuals living independe

94、ntly and for businesses managing aging workforces.Reduced complexity and simplified decision-making:As consumers age,they seek simplified products with less cognitive burden,while businesses face increasingly complex risk landscapes with aging workforces.Prevention-driven approaches that proactively

95、 mitigate risks become valuable across both segments,replacing complex coverage decisions with trusted protection systems.Source:Capgemini Research Institute for Financial Services analysis,2025Figure 3.Insurers will adapt and innovate through product architecture evolutionReal-time riskand exposure

96、monitoringService-ecosystemModularsolutionsPrevention solutionsAdaptationInnovationCommercial linesPersonal linesFrom distributed to concentrated risk managementAutomation-driven shift from personal to commercial liabilitiesFrom property tosmart-living protectionUsage-based and service-drivensolutio

97、ns for aging lifestyle needsFrom business continuity todigital operational resilienceFrom workers compensation toautomated operations liabilityWorld Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202518 Increased flexibility across life stage

98、s:Demographic diversity requires adaptable protection across both personal and commercial lines.Modular solutions enable customization as personal circumstances and business needs evolve.Personalized support beyond financial indemnity:Aging populations and the businesses serving them need practical

99、assistance integrated with protection.Service-focused ecosystems incorporating everything from home maintenance to workplace ergonomics extend insurance value beyond traditional risk transfer.These service networks support both independent living for seniors and business continuity for organizations

100、 with aging talent pools.In personal lines,these approaches transform traditional asset protection into more experience-focused solutions that combine coverage with services.For commercial lines,coverage expands beyond traditional business interruption to protect the entire value chain against disru

101、ptions.Meanwhile,workers compensation coverage gradually shrinks as automation replaces human labor,while new liability products emerge to address risks from the automated systems taking aging workers place.Most significantly,as aging populations rely on increasingly interconnected systems,the bound

102、aries between personal and commercial risks blur requiring sophisticated risk assessment capabilities and innovative solutions that provide seamless protection across all domains.This convergence is particularly evident in areas like cyber risk,where personal digital identity protection intersects w

103、ith commercial data security concerns in ways that traditional siloed approaches cannot sufficiently address.“Were on the cusp of a data revolution in P&C insurance.IoT-enabled sensors,spatial analysis,predictive modeling,and Generative AI will empower insurers to move from reactive loss management

104、to proactive risk prevention,reshaping the value chain in the future.”Ralph SeveriniGlobal leader,Commercial Insurance,AWSWorld Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202519Core transformation helps a global P&C insurer achieve simpli

105、fication at scaleBusiness challenge:Multiple acquisitions and diverse local regulatory requirements led to a global insurer having diverse products,processes,and IT systems across various markets.This brought about complexity that led to increased costs.To differentiate itself further in the market,

106、the insurer focused on rationalizing,simplifying,and standardizing products and processes globally.The plan was to synergize operations,reduce costs,and enhance service quality through a unified IT platform.Business solution:The multi-national carrier sought future-ready business standardization and

107、 resilience through a simple,digitally-scalable transformation.The firm partnered with Capgemini to support creating and implementing a comprehensive multi-core,highly flexible,verticalized global insurance platform for various business segments,including personal,SME commercial,and large commercial

108、 lines.This platform standardizes products and processes globally,allowing for local nuances and differences.It boosts flexibility so the insurer can scale business and lower operating costs.The model reshapes digital interactions between intermediaries and customers,emphasizing user centricity in a

109、n integrated omnichannel environment.The insurer built the platform with micro services-based architectural patterns on the cloud.Business results:This program has become essential to the insurers goal of offering scalable,simplified insurance products on a unified platform.The core platform support

110、s the firms digital agenda initiatives and has the potential to replace legacy systems,enabling rapid scalability.The transformation positions the carrier for market leadership and greater operational efficiency through global integration and synergies.World Property and Casualty Insurance Report 20

111、25Capgemini Research Institute 2025Capgemini Research Institute 202520What does this mean for core business lines?Lets look at how demographic changes will reshape the three largest segments of P&C insurance:Auto insurance,where aging populations will be at the forefront of driving changing mobility

112、 patterns and ownership models Property insurance,which will evolve as smaller families prefer smaller homes and older homeowners focus on“age in place”solutions Liability insurance,which faces new exposures as technology compensates for aging workforce trends Personal auto coverage transitions to c

113、ommercial liability protectionThe auto insurance line(USD 1.92 trillion by 2050,at a 3.0%CAGR)7,8,9,is transforming as aging populations reshape mobility patterns.With over 65%of new car sales in Europe and the US projected to be autonomous vehicles by 2040,traditional models built around individual

114、 ownership and personal driving habits face disruption.10 As people age,the way they get around changes.They tend to drive less,avoid driving at night or in bad weather,and focus on safe driving.With aging-related vision and reaction time changes,many eventually transition away from personal vehicle

115、 operation entirely.Concurrently,urban concentration makes alternative transportation options more practical and appealing.These demographic forces,augmented by technology trends,create a gradual shift in risk exposure from personal to commercial coverage.This transition creates complex challenges f

116、or insurers.Liability allocation becomes increasingly nuanced,requiring new models to determine the correct allocations of responsibility between drivers,vehicle manufacturers,and technology providers.The 2022 decision by Mercedes-Benz to accept liability for accidents involving its Drive Pilot Leve

117、l 3 automated driving system illustrates the shift and may encourage other automakers to follow suit.11 Successful insurers will evolve from simple asset coverage to comprehensive mobility protection as highlighted in our World Property and Casualty Insurance Report 2023.This will necessitate partne

118、rships with manufacturers and service providers that meet the evolving transportation needs of aging populations.Joeri Jedeloo,CIO of P&C and Income Insurance at NN Group said,“By 2050,the rise of autonomous technology will shift auto liability from individuals to manufacturers,disrupting motor insu

119、rance fundamentals.Risk assessment will pivot from driver behavior to real-time vehicle performance and system reliability,driving commercial coverage dominance while personal lines decline.”World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institut

120、e 202570%of customers planning no changes to current housing situations21Property risks transform from asset protection to resilience-based coverageThe property insurance line(USD 2.48 trillion by 2050,at 5.2%CAGR)7,8,9 is evolving from traditional asset protection to resilience-based coverage in re

121、sponse to changing demographics,climate pressures,and consumer priorities.A striking 70%of customers plan no changes in their housing situations,with older individuals increasingly choosing to age in place rather than relocate.At the same time,50%of working-age individuals expect to shift to part-ti

122、me or gig employment particularly in older age and when approaching retirement.These trends reshape both personal and commercial property risks.For personal lines,aging-in-place drives demand for home modifications from smart leak detection systems to sensors preventing kitchen and electrical hazard

123、s that support independent living while creating new risk exposures.For commercial lines,changing workforce demographics influence space utilization,with potential shifts in office configurations and building purposes as organizations adapt to different worker needs and expectations.Ongoing gig econ

124、omy growth amplifies the trend.Insurers can navigate this complexity through predictive maintenance partnerships,prevention ecosystems with property developers and the public sector,and scalable claims capabilities.For personal coverage,the focus will evolve toward preventive,age-friendly offerings

125、that address both climate risks and the needs of multi-generational families and smaller homes.Commercial portfolios require modular designs to tackle complex risk scenarios,like interconnected smart building systems or mixed-use properties with diverse occupancy patterns.US-based Nationwides partne

126、rship with Resideo Technologies exemplifies this approach,leveraging smart home solutions to protect against water leaks and fire hazards proactively.This addresses a significant protection gap identified in their 2023 Agency Forward survey.12“The widening gap between insurability and affordability

127、is unsustainable.Public-private collaboration,risk-aware zoning,and resilient construction are essential to maintaining viable coverage.Business resilience is key in insurance and must not be viewed as an entitlement for policyholdersespecially as climate-driven losses escalate globally.”Bryan Falch

128、uk President and CEO,PLRBWorld Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202522An aging population transforms liability exposures across economic sectorsThe liability insurance market(USD 1.24 trillion by 2050,at 4.9%CAGR)7,8,9,is shifti

129、ng from isolated incidents to interconnected exposures,driven by demographic and technological changes.As populations age,developed economies face decreasing worker-to-retiree ratios and significant shifts in economic activity.Workforce aging alters workplace risk profiles.As fewer working-age indiv

130、iduals support growing senior populations,organizations face increasing workplace injury potential and knowledge transfer challenges.These pressures accelerate adoption of assistive technologies and automation,creating new liability exposures as responsibility shifts from human to machine decision-m

131、aking.Consumption patterns evolve with aging populations.The emphasis turns to services versus goods particularly in healthcare,home assistance,and leisure experiences.This transition toward service-dominant economies creates different liability profiles with greater emphasis on professional liabili

132、ty and duty-of-care exposures.Personal liability evolves as aging populations live independently for longer.Older individuals face unique challenges around property maintenance,visitor safety,and medical emergency“As technology evolves,liability will increasingly shift from individuals to manufactur

133、ers.Autonomous systems and AI-driven processes will require companies to take on more responsibility for risks traditionally borne by individuals.”Sam ZhangChief Operations Officer,Zurich Hong Kongresponse,with aging-in-place technology emerging as both a solution and a potential liability source.Th

134、ese interconnected exposures require insurers to master risk allocation across parties and establish operating standards for AI-driven technologies.Success requires ecosystem partnerships to prevent cascading failures.On the commercial side,this means integrated coverage across human workforce risks

135、 and emerging automated system liabilities with new solutions that combine product liability,errors and omissions,and cyber risks.Launched in April 2023,Munich Res aiSelf,demonstrates this approach by addressing risks from self-developed AI solutions including underperformance,unreliability,and mode

136、l drift in machine learning systems.It complements the carriers aiSure product for commercial AI providers,enabling organizations to deploy AI confidently.13 World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202523Beyond siloed risks:The f

137、uture of protection in a connected worldAs risks across personal and commercial lines become increasingly interconnected,traditional siloed approaches are no longer adequate.To illustrate this evolving risk landscape,look at how a single disruption like a smart home malfunction,or a shipment delay c

138、an trigger widespread consequences across an individuals life or an organizations operations,from property damage to cyber breaches and financial losses.Personal linesFigure 4 demonstrates how interconnected risks reshape personal lines protection needs.Let us imagine a day in the life of Maya,a 68

139、year-old gig worker in 2050.A malfunction in her smart home system not only causes physical damage but also leads to a cascade of issues.The malfunction compromises her homes security and connected vehicle functionalities,leading to potential accidents or unauthorized access.Additionally,the disrupt

140、ion affects her ability to work remotely,resulting in lost income and productivity.The interconnected nature of these risks highlights the need for comprehensive protection that goes beyond traditional insurance models.Source:Capgemini Research Institute for Financial Services analysis,2025Figure 4.

141、How connected risks reshape personal lines protection needsMaya begins her day managing her gig work tasks in a VR workspaceIncident and impactRisks TriggeredInsurance-led innovative customer support9 AM Potential fire damage Lost gig income Fall risk from VR disconnectSmart living hub malfunctionIo

142、T device glitches,causinga power surge acrosshome ecosystem Predictive monitoring prevents fire damage Automated business continuity coverage activates Emergency response system triggeredSmart home monitoringProperty Financial Liability3 PM Data breach Personal/Financial data misuse Reputational dam

143、ageCybersecurity vulnerabilityMultiple system glitches weakenMaya digital footprint security Data breach claim initiates automatically Real-time financial fraud coverage triggersCyber risk prevention Identity theft Unauthorized transactionsFinancial impactFraudulent account transactionsare triggered

144、 by data breach Immediate fraud detection and reversal Identity restoration service activated Long-term monitoring implementedFraud detectionand reversal12 PM Incorrect route data Braking failure risk Accident potentialMobility sphere connectionThe malfunction compromises connected vehiclefunctional

145、ities Autonomous safety override engages Alternative transport coverage activates Real-time liability protection adjustsDynamic mobilitysafety solutionLiabilityMobilityCyber6 PMFinancial LiabilityLiabilityCyberCapgemini Research Institute 2025Capgemini Research Institute 2025World Property and Casua

146、lty Insurance Report 202524Source:Capgemini Research Institute for Financial Services analysis,2025Note:1-Errors and OmissionsIncident and impactRisks TriggeredInsurance-led innovative customer supportFigure 5.How connected risks reshape commercial lines protection needsGreenTech powers smart manufa

147、cturing with seamless,data-driven systemsWeek 1Week 3Week 4Week 2 Delayed shipment Production halts Concentration riskSupply chain disruptionGeopolitical crisis disruptscritical supply chain Health&safety risks Productivity issues from operational inefficiencies Weakened security resulting in cyber

148、attackWorkforce challengesAging gig workforce strugglewith crisis response Systemwide breaches Infrastructure damages Worsened production issues and missed deadlinesCyber and AI recalibrationissuesHacked system results in disruption of AI-driven production Reputational damage Share price impact Long

149、-term contract riskReputational damageCumulative events affectmarket confidenceLiabilityOperationalCyberWorkersCompensationOperationalLiabilityAssetOperationalLiabilityReputation Predictive risk modelling anticipates disruptions Dynamic rerouting to reduce delays Intelligent supply chain protection

150、deployedDynamic supply chain Crisis management support initiates Training reduces cyber attack exposure Flexible gig economy business continuity response activatesCrisis Support Cyber response provides liability exposure protection Corrective action to prevent E&O1 exposure Automatic claims initiati

151、on covers AI-related lossesCyber and AI mitigation Continuous monitoring detects vulnerabilities Reputation recovery to rebuild trust Sentiment analysis tools predict and manage public perceptionReputation managementCommercial linesFigure 5 illustrates how interconnected risks reshape commercial pro

152、tection at GreenTech,a smart manufacturer in 2050.A supply chain disruption triggers production halts,contractual penalties,and workforce inefficiencies.Aging workforce and skill gaps amplify delays and weaken security,requiring crisis management.Cyberattacks on autonomous systems disrupt operations

153、 and expose sensitive data,escalating reputational risks.These cascading risks demand dynamic,adaptive coverage over siloed protections.“Most insurers operate in silos across business lines,hindering their ability to identify interconnected risks.Breaking down these silos through data integration is

154、 key to mitigating risks,strengthening resilience,and gaining a competitive edge.Achieving this demands a cultural shift toward continuous evolution,sustained by collaboration and integration.”Jamie Macgregor Global Head,CelentWorld Property and Casualty Insurance Report 202525Capgemini Research Ins

155、titute 2025World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 20252603Scale for tomorrow,today:Building capability for an aging,urban worldWorld Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research

156、Institute 202527Translating demographic foresight into a competitive advantage and capturing the opportunities an aging population presents involves shifting from traditional one-time transformation initiatives to ongoing adaptive evolution.Figure 6 outlines a roadmap to navigate this transformation

157、-with clear priorities across three time horizons.Implementing these priorities requires focusing on strategic positioning,operating model execution,and risk governance.Each requires immediate action and sustained evolution for carriers to respond effectively to the demographic shifts reshaping insu

158、rance markets.Source:Capgemini Research Institute for Financial Services analysis,2025Figure 6.Prioritize time-bound strategies to navigate global demographic shiftsDrive strategy,operations,and digitizationOptimize risk concentration and capacitySRDevelop future-ready personal productsPEvolve comme

159、rcial liability protectionCConduct sensitivity analysis to gauge portfolio exposure changes due to demographic shiftsScale AI,cloud,and API capabilities to drive efficiencies,improve margins,attract talent,andenhance distributionStrengthen data architecture and management to unlock real-time risk an

160、d exposure assessmentNowTech and operational foundationSoonBusiness model and product evolutionLaterFuture-ready operating modelSRSRSRPImprove urban,interconnected,and climate risk modeling to refine risk appetite and capacityRedesign intelligent operations and talent for human-digital excellenceOpt

161、imize market presence to capture growth across urban and rural areasEstablish public-private andecosystem partnerships to tackle risk concentration and mitigate risksBuild standard-setting and reinforced-learning capabilitiesfor autonomous systems andAI governanceDevelop new liability risk-sharing f

162、ramework to assess human and machines co-responsibilitySecure sustainable data access models to preserve pricing and risk assessment capabilitiesEnhance operational resilience to ensure service continuity during interconnected eventsDeploy experience-driven prevention and services to meet evolving a

163、ging population lifestylesCPSRSRRPCRPCRPSSSRCCapgemini Research Institute 2025Capgemini Research Institute 2025Rory Yates Global Chief Strategy Officer,EIS“With rapid change reshaping the industry,insurers must rethink their foundationsbalancing long-term vision with immediate action.The key is a mi

164、nimum viable business case:leveraging existing gaps in products,digitization,and distribution to build smarter,more resilient models today.”World Property and Casualty Insurance Report 202528Capgemini Research Institute 2025Capgemini Research Institute 2025Capgemini Research Institute 2025World Prop

165、erty and Casualty Insurance Report 202529Praveen Sasidharan Chief Insurance Services Officer,Allianz Services“With the rise of automation,insurers will face a talent war,especially for roles that require deep risk knowledge like underwriting.Adopting key talent strategies like building a global tale

166、nt pool and upskilling existing employees for the future with the right culture and context can help insurers maintain a competitive edge and adapt to evolving market demands.”Reassess strategy for demographic changeAs population aging and urbanization transform risk landscapes,strategic insurers wi

167、ll evolve their business strategies through four high-impact initiatives:Recalibrate geographic focus to align with high-growth,older urban centers and demographically advantageous transitioning markets.Create age-friendly services that move beyond risk transfer to comprehensive assistance designed

168、for older urban populations.Build ecosystem partnerships with mobility providers and smart-home platforms to cater to the needs of aging populations.Transform talent strategies to address impending expertise gaps as industry veterans retire,while at the same time developing digitally-skilled workfor

169、ces to serve changing consumer needs.These moves can deliver quick wins(Figure 7)while building for the future.They help to establish foundations to develop market-specific business models tailored to demographic trends,build public-private prevention-focused ecosystems,and prepare for the talent wa

170、r by breaking down silos and driving a continuous evolution culture.Reduce capability gapInsurers self-assessment,%ImportanceCapability maturityFigure 7.Reassess strategy to unlock growth and productivityProduct development and Innovation35%57%Distribution strategy15%41%Customer service and experien

171、ce21%42%Growth opportunityIncrease productivity50%faster growth rate in transitioning versus mature markets by 203091%of mature markets TFP growth from emerging tech in 2030Source:Oxford Economics,Capgemini Research Institutefor Financial Services analysis,2025Note:1.Transitioning markets include Br

172、azil,China,and India.2.Mature markets include Australia,Canada,France,Germany,Italy,Japan,UK,and US3.Total Factor Productivity(TFP)contribution measures output efficiency driven by technological innovation(process efficiency,AI),allocative efficiency of production factors(competitive markets),and an

173、 emerging third factor of climate change.World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202530Enhance operating models and technology infrastructureStrategy sets the course,but operational execution wins.As populations age and move to u

174、rban centers,driving talent shortages and risk concentrations,future-focused insurers will immediately prioritize three key areas:Build resilience through scalable systems that can manage synchronized claims from interconnected events.Deploy automation and AI to compensate for expertise gaps as work

175、forces age,while driving efficiency and improving service to increasingly digital-savvy seniors.Modernize data architecture to incorporate granular demographic and traditional risk factors,enabling integrated assessments across internal and external sources.These enhancements deliver immediate impro

176、vements in customer experience and cost efficiency(Figure 8).They also enable long-term innovation through reinvented data models that support near real-time decision-making,strategic automation,and sustained productivity gains in a world with dramatically different demographic profiles.Dean Brown,t

177、he Group Chief Operations Officer at Everest Group said,“Insurers should scale automation and AI investments into their operating models with prudence.Successful implementations require thoughtful design,robust controls,and skilled personnel with an engineering mindset to deliver transformative effi

178、ciency and customer experience gains.”Source:1.Pasadena now;2.BCG,Capgemini Research Institute forFinancial Services analysis,2025Figure 8.Reduce costs by enhancing operating modelsReduce capability gapInsurers self-assessment,%Real-time data analytics11%80%Generative AI11%63%ImportanceCapability ma

179、turityAdapt servicingReduce costs31,210claims filed within 20 days of the LA fire start120-30%lower loss-adjustment expenses with Gen AI claims augmentation2World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202531Strengthen risk management

180、 and capacity deployment for demographic transformationBuilding on the underwriting modernization themes explored in our World Property and Casualty Insurance Report 2024,adapting risk approaches to address the complexity of converging demographic and climate trends offers significant advantages.Thr

181、ee urgent initiatives stand out:Redefine the underwriting models with aging-related risk factors,urban concentration patterns,and changing property utilization to increase rate and eligibility accuracy.Implement dynamic authority levels aligned with portfolio conditions.Develop near real-time risk i

182、ntelligence to optimize capacity across geographies and business lines with different demographic trajectories.These initiatives address critical underwriting capability gaps while optimizing exposure management (Figure 9).Over the long term,they improve how insurers model interconnected risks by re

183、fining risk appetite and optimizing capacity allocation.This enables more dynamic portfolio management as risk landscapes evolve with demographic changes.The result?A foundation to create innovative coverage for emerging liability exposures,“Insurers must deploy granular catastrophe models on a regu

184、lar basis that precisely identify the catastrophe risks amid urbanization and aging populations.This delivers ongoing value through optimized market entry/exit decisions while satisfying quarterly targets.Additionally,in the long term,it strengthens rating assessments through demonstration of enhanc

185、ed risk management and capital adequacy.These models bridge quarterly executive imperatives with transformation goals,with the aim of long-term profitability amid increasingly volatile risk environments.”Julie Serakos Managing Director,Model Product Development,Insurance Solutions,MoodysReduce capab

186、ility gapInsurers self-assessment,%ImportanceCapability maturityFigure 9.Source:1.First Street;2.Capgemini Research Institute for Financial Services analysis,2024;Capgemini Research Institute for Financial Services analysis,2025Enhance underwriting to optimize risk exposureUnderwriting17%88%Manage s

187、ervicing surgeReduce risk exposure27%of U.S.property policies underprice climate risk exposure190%of insurers achieved improved underwriting results with advanced risk mitigation2World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202532emer

188、ging self-operating machines,and AI applications that increasingly replace an aging human workforce.Alex Schmelkin,the founder and Chief Executive Officer at Sixfold,said,“P&C underwriting must evolve from data accumulation to data synthesis.In the long-term,insurers integrating AI-driven risk inter

189、pretation will empower underwriters to act decisively,turning raw data into real-time strategic insights.”P&C insurer streamlines data management for more precision underwritingBusiness challenge:A leading North American property and casualty insurer with worldwide operations struggled to make timel

190、y,data-driven underwriting decisions.The carriers process for evaluating location risk crucial for catastrophe(CAT)modeling,actuarial analysis,and predictive analytics relied heavily on manual data consolidation and integration.Manual efforts were inefficient in combining available data residing in

191、disparate systems and formats.Key information,including addresses,exposures,construction details,occupancy,engineering reports,claims history,and external data,was inconsistently stored,hindering efficient analysis and informed decision-making.Business solution:To improve operational efficiency and

192、CAT risk management,the insurer partnered with Capgemini to create a centralized,reliable source of location data.This“single point of truth”for all location data enabled near real-time data processing by identifying and integrating the most accurate data from trusted sources to support CAT exposure

193、 management.Using historical data,the insurer now tracks changes and supports point-in-time analysis.This solution supports multiple certification-scoring factors for each location and leverages a data-driven methodology to drive system and functional behavior.Data lineage was established to track e

194、very location from source to certification.Business results:The transformation helps the insurer to make more informed decisions,improve underwriting accuracy,and enhance operational efficiency by creating a unique location ID for approximately 10 to 12 million global addresses and enriching locatio

195、n data with over 800 data points from internal and external sources.This comprehensive data integration delivers deep insights into all account locations,enhances risk management accumulation alerts,and delivers actionable intelligence for underwriting,account scoring,and risk-engineering survey gui

196、dance.Capgemini Research Institute 2025Capgemini Research Institute 2025ConclusionTop-performing insurers turn demographic challenges into competitive advantagesThe demographic transformation reshaping our world creates both challenges and opportunities for P&C insurers.Success requires continuous e

197、volution rather than one-time transformation,and a thoughtful and simultaneous focus on both solutions to near-term business needs and pathways for long-term growth.The questions in Figure 10 on the right can help your organization navigate these complex trade-offs.By addressing these strategic ques

198、tions,board directors and insurance executives can move beyond incremental improvements to develop truly differentiated capabilities for an aging,urban world.Forward-thinking leaders balance immediate actions with long-term vision.They strengthen strategic positioning in demographically advantageous

199、 markets,enhance operational capabilities to serve aging customers,and evolve risk governance frameworks to address urban concentration.This balanced approach enables measurable improvements today while building the foundations for sustainable leadership in a demographically transformed tomorrow.Wor

200、ld Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202533Source:Capgemini Research Institute for Financial Services analysis,2025 Figure 10.How to get started:The hard choices facing P&C InsurersBoard discussion the whatExecutive discussion-th

201、e howWhat market entry or exit will position us ahead of these demographic transitions?How should our geographic footprint evolve as economic growth shifts from aging regions to younger markets?How should we reallocate capital investment to align with these demographic-driven market shifts?How will

202、our underwriting and capacity models adapt to these demographic changes?How will we adapt our talent strategy as our industry experts retire and working-age talent pools shrink?Which business lines will expand or shrink as populations age and urbanize?What new capabilities do we need to assess and p

203、rice risks in aging,urban-concentrated populations?What mix of AI augmentation and knowledge transfer will sustain operations in aging markets?How can insurers shift from project-based transformation to continuous business evolution?Risk and portfolio selectionHuman andAI talentMarket and portfolios

204、trategyOperations anddigital resilienceWorld Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202534The World Property and Casualty Insurance Report 2025 draws data from three primary sources:the 2025 Global Voice of the Customer Survey,the 202

205、5 Global Insurance Executives Survey,and the 2025 Global Macroeconomic Forecasts created in collaboration with a leading macro forecaster.This primary research covers insights from 18 markets:Australia,Belgium,Brazil,Canada,China,France,Germany,India,Italy,Japan,Malta,the Netherlands,Norway,Portugal

206、,Spain,Switzerland,the United Kingdom,and the United States.2025 Global Voice of the Customer SurveyOur comprehensive Voice of the Customer Survey,administered in January and February of 2025 in collaboration with Phronesis Partners,polled 5,016 P&C insurance customers in 13 countries.These markets

207、represent all three regions of the globe the Americas(the United States,Canada,and Brazil),Europe(Belgium,France,Germany,Italy,Portugal,Spain,and the United Kingdom),and Asia-Pacific(Australia,India,and Japan).2025 Global Insurance Executives SurveyThe report also includes insights from interviews w

208、ith 274 senior insurance executives of leading P&C insurance companies across 15 markets.These markets represent all three regions of the globe the Americas(the United States,Canada,and Brazil),Europe(Belgium,France,Germany,Italy,the Netherlands,Norway,Spain,Switzerland,Malta,and the United Kingdom)

209、,and Asia-Pacific(Australia and India).2025 Global Macroeconomic ForecastsThe report also includes insights from macroeconomic forecasts done with a leading global macroeconomic forecaster.These forecasts projected key macroeconomic indicators like population,dependency ratio,GDP,urbanization rates,

210、productivity gains from technology,and the impact of climate change,along with key insurance indicators like premiums by lines of business.These projections were done for the period between 2024 and 2050 across 11 markets representing all three regions of the globe the Americas(the United States,Can

211、ada,and Brazil),Europe(France,Germany,Italy,and the United Kingdom),and Asia-Pacific(Australia,China,India,and Japan).MethodologyCapgemini Research Institute 2025Capgemini Research Institute 2025World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Inst

212、itute 202535Advanced portfolio assessment:While populations and market dynamics are shifting,insurers must strategically adapt their portfolios to align with long-term growth opportunities.As the market sizes and exposures evolve per the insights in this report,the insurers book needs to adapt with

213、strategic changes to the go-to-market with a long-term horizon.Capgemini will bring insights from the insurers global book of business using Oxford data and research findings to identify potential hotspots of business shrinkage and whitespaces to target in total addressable market growth areas.Futur

214、e-ready insurance models:In an era of population shifts,insurance companies must focus on operational resilience and sustainability for continued success.Developing robust models that integrate sustainability is crucial for aligning with changing clients values and preparing for climate change impac

215、ts.By fostering resilience,insurers enhance long-term viability and navigate complex regulations.Digitalization,through tools like the Underwriting Workbench,reduces costs by automating processes,streamlining workflows,and boosting productivity.Our ambition is to design a relevant target operating m

216、odel and create a roadmap for implementation,integrating sustainability into business models and leveraging digital tools to enhance efficiency and productivity.Customer and distribution insights for growth:Enhancing customer experience and engagement is vital as the population evolves,reshaping per

217、sonal insurance lines.Understanding clients preferences across different age groups and tailoring products to their needs enables insurers to refine distribution strategies and strengthen relationships.This approach elevates customer satisfaction and supports corporate strategy by addressing diverse

218、 market segments unique requirements.By leveraging data analytics and customer insights,insurance companies can optimize marketing,increase retention,and drive growth.These strategies ensure insurers respond to clientele expectations while adapting their workforce to meet evolving demands.Modernize

219、data and AI estate for insurance:Data and AI are pivotal in transforming operations,especially as the population dynamics discussed in the report reshape risk assessment and customer engagement.Embracing advanced analytics and AI,insurers optimize capacity management,aligning decisions with nuanced

220、and evolving customer needs.Capgemini will modernize the Data Estate with robust technologies and composable(multi)cloud-based architecture to reduce costs,and foster agility.This modernization establishes a single source of truth,facilitating dynamic analytical insights and AI-driven solutions.Capg

221、eminis RAISE and AURA platforms will drive scalable and proven AI solutions embedded in the Insurance value chains.Insurers will be able to compete effectively and efficiently meeting the demands of a demographic that values tailored solutions.Partner with CapgeminiCapgemini Research Institute 2025A

222、bout Future4CareWho is Future4care Future4care is Europes leading ecosystem dedicated to digital health.Launched in 2021 through an alliance between Sanofi,Generali,Capgemini,and Orange,Future4care brings together key HealthTech playersmajor corporations,experts,healthcare professionals,public insti

223、tutions,and startupsto foster meaningful synergies and drive innovation in healthcare.We believe that only a collective commitment from these multidisciplinary stakeholders will enable the emergence of European champions and accelerate the widespread adoption of AI-and digital-based solutions,giving

224、 caregivers more time and offering new opportunities for patients.Thats why we work every day to build unprecedented collaborations within our ecosystem,shaping the future of healthcare together.What does Future4care do Future4care operates in Paris and Berlin,with a 6,400m Parisian campus dedicated

225、 to the members of our ecosystem.Within these walls,a variety of eventsincluding conferences,meet and greets,reverse pitches,and workshopstake place year-round,designed to inspire,foster networking,and encourage collaboration among our members.Future4cares activities are structured around three main

226、 pillars:a startup accelerator supporting European scale-ups in their growth journey;an institute dedicated to forward-thinking research and prospective topics;and an open innovation factory that fosters collaboration between corporations and startups.Learn more:https:/ Property and Casualty Insuran

227、ce Report 2025Capgemini Research Institute 2025World Property and Casualty Insurance Report 202537Capgemini Research Institute 2025World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202538Ask the expertsShane CassidyInsurance Business Unit

228、Leader Shane Cassidy is Executive Vice President and head of Capgeminis Global Insurance Business Unit.Shane has been at the forefront of digital disruption and innovation for over two decades,identifying and developing solutions to address the market evolution.Nathan SummersManaging Director of Fin

229、ancial Services,Capgemini Invent Nathan Summers is the Managing Director of Financial Services at Capgemini Invent.He has more than 25 years of consulting leadership experience and works with senior client leaders on group strategy and strategic transformation initiatives.Lotfi BaccoucheCo-Lead of I

230、nsurance Practice,Capgemini Invent Lotfi Baccouche is co-leading Capgemini Invent insurance practice globally.He advises major insurance firms on business strategy and operating models.He supports insurance firms in improving their operational efficiencies and risk profiles by developing and impleme

231、nting technologically enabled solutions.Adam DenningerGlobal Industry Leader for IAdam Denninger leads Capgeminis global strategy and product solutions for the insurance industry.Adam has 20+years of experience creating and delivering solutions at the intersection of business and technology.World Pr

232、operty and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202539Elias GhanemGlobal Head of Capgemini Research Institute for Financial Services Elias Ghanem leads Capgeminis global portfolio of financial services thought leadership.He oversees a team of st

233、rategy consultants and sector analysts who deliver market insights to help clients build future-proofing strategies.He has more than 25 years of financial services experience,focusing on win-win collaboration between incumbents and startups.Luca RussignanHead of Insurance and Deputy Head of Capgemin

234、i Research Institute for Financial Services Luca Russignan is an insurance expert with more than 15 years of experience with industry-leading consultancies and insurers.At Capgemini,he enables CXO conversation in the insurance sector through data-driven thought leadership to shape insurance business

235、 strategy across the UK,US,Italy,and APAC.Kiran BoosamGlobal Portfolio Leader for Insurance Kiran Boosam leads Capgeminis Global Insurance Portfolio.A career P&C and Life insurance expert,Kiran assesses the industry dynamics,forecasts Insurance CxOs strategies,shapes fitting innovative portfolios,an

236、d enables key accounts to leverage the power of the Capgemini group,external ecosystems,and emerging technologies.Remi TordeuxInsurance Practice Head,FS France and Continental Europe Rmi has served the Insurance industry for over 20 years working for worldwide leaders in consulting and technology.Le

237、ading strategic initiatives and transformation programs enabled him to develop an expertise in Insurance business and the IT platforms supporting Insurance operations,both with custom built solutions as well as market software solutions like DuckCreek,Guidewire,Cleva,and Prima.He has a strong experi

238、ence working in international projects in Europe and Asia.He graduated from the Centrale Paris Engineer School in 2002.Ask the expertsWorld Property and Casualty Insurance Report 2025Capgemini Research Institute 202540Key contactsGlobalShane Cassidy Adam Denninger Ian Campos Nathan Summers Australia

239、&New ZealandRoshnai Chaudhuri Saugata Ghosh BelgiumPatricia Boydens Sanjay Jhamb FranceRemi Tordeux Thibaut Legrand GermanyJoachim Rawolle Florian Gmach IndiaAshwin Raghunatha Chari Ujjwalita Preejush ItalyMatteo Bonati Luca Antonini JapanAtsushi Terasawa Kazuhira Takewa Latin AmericaRicardo Acacio(

240、Mexico)Renata Ramos(Brazil)NordicsJimut Basa Helen Jensen(Sweden and Finland)Cecilie Vatn(Norway)PortugalBernardo Ferreira Santos bernardo- Laura Magalhes Southeast AsiaSreepad Kamath Alexis Klein SpainJordi Valls jordi.valls-Antonio Luis Nuez Pitera antonio-luis.nunez-The NetherlandsJimut Basa Ewou

241、t Bouwman United KingdomWendy Williamson wendy-Lotfi Baccouche United States and CanadaSatish Weber Lars Boeing World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025Capgemini Research Institute 202541AcknowledgmentsWe offer special thanks to the insurers,ecosystem partne

242、rs,and industry experts who contributed their valuable time during the World Property and Casualty Insurance Report Executive Interviews and Voice of the Customer Survey.We appreciate the expertise of participating firms:Achmea,Allianz Partners Espaa,Allianz SE,Alper Seguros,Alte Leipziger Versicher

243、ung AG,Argenta Assuranties NV,AXA Partners Spain,Baloise Belgium NV,Baloise Sachversicherung AG Deutschland,BB Seguros,BDM NV,Belfius Insurance,Bradesco Seguros,Brasilseg,BRB Seguros,CNP Seguradora,CNP Seguros Holding Brasil,Ethias NV,Federale Verzekering,Group P&V,Grupo HDI,Helvetia Assicurazioni,H

244、iscox,Mapfre Seguros Gerais S.A.,MDS Group,Pier Seguradora,Reale Group,Santalucia,SegurCaixa Adeslas,Seguros SURA,SIGNAL IDUNA Allgemeine Versicherung AG,Smile Insurances,SOMPO Seguros,Stellantis Insurance,Suhai Seguradora,Swiss RE Corporate Solutions Brasil Seguros,SwissRe,The Auto Club Group,Tokio

245、 Marine Seguradora,Travelers,Tryg Forsikring,Wawanesa Insurance,Youse Seguros,and Zurich Espaa.We recognize the following teams and individuals for analysis,composition,and production:Capgemini Research Institute for Financial Services:Priyanka Kumari,Raghav Agrawal,Sukanya Sen,and Swati Goswami,for

246、 providing in-depth market analysis.Tamara Berry for editorial guidance and content oversight,and Dinesh Dhandapani Dhesigan for graphical interpretation and design.Capgemini Sponsorship Committee:Adam Denninger,Florian Gmach,Kiran Boosam,Lotfi Baccouche,Shailesh Yadav,and Shivakumar Balasubramanian

247、.Capgeminis Global Insurance Network:Andre Sussumi Tsuno,Barry Houston,Cecilie Vatn,Chirag Thakral,Divyaang Mittal,Dorin Izbas,Ebru Aksak,Enrique Saenz Arranz,Franziska Rlli,Gustavo Leanca,Hardik Mehta,Javin Neff,Kent Ho,Klaus Thummert,Kristofer le Sage de Fontenay,Marcel Walther,Matteo Bonati,Matth

248、ew Herson,Mayank Sethi,Michael Greineder,Norma Hauer,Pranay Desai,Prashant Shastri,Richard Drab,Sameeth Varghese,Sean Rowlands,Shulamit Bot,Tommaso De Portu,Virendra Singh,Vivek Panneerselvam.Marketing:Meghala Nair,Jyoti Goyal,Sunanda Ganguli,David Merrill,Neha George,Fahd Pasha,Manasi Sakpal,Anthon

249、y Tourville,and Manisha Singh for their overall marketing support for the report;and the Creative Services Team Pravin Kimbahune,Anupriya Andhorikar,Balaswamy Lingeshwar,Sushmita Singh and Chirantan Kulkarni for report production.Pranav ShivramProject Manager Project Manager for insurance thought le

250、adership with 3+years of experience in financial servicesJuhi VallabhDeputy Project Manager Project Manager for insurance thought leadership with 3+years of experience in financial servicesCapgemini Research Institute for Financial Services:Lead AnalystsWorld Property and Casualty Insurance Report 2

251、025Capgemini Research Institute 2025Capgemini Research Institute 202542Endnotes1.United Nations,“World Population Prospects 2024,”accessed January 02,2025.2.Oxford Economics analysis;February 2025.3.UCLA,LA Wildfires caused as much as$164 billion in total property and casualty losses;February 04,202

252、54.Oceantomo,“Intangible Asset Market Value Study;”accessed January 26,2025.5.The University of Texas at Austin Energy institute,“The Timeline and Events of the February 2021 Texas Electric Grid Blackouts;”accessed January 28,2025.6.Allianz partners,“Allianz Partners India announces partnership with

253、 CI metrics to enhance predictive weather-based automotive assistance solutions;”October 21,2024.7.Swiss Re,“More risk:the changing nature of P&C insurance opportunities to 2040;”September 6,2021.8.Global Data analysis9.Capgemini Research Institute for Financial Services analysis10.Goldman Sachs,“Pa

254、rtially autonomous cars forecast to comprise 10%of new vehicle sales by 2030;”August 19,2024.11.Wards Auto,“Mercedes-benz-takes-legal-responsibility-for-its-level-3-technology;”January 30,2023.12.Nationwide,“Getting smarter:Nationwide and Resideo join forces to fortify and help protect homes;”Octobe

255、r 24,2023.13.Reinsurance News,“Munich Re launches innovative coverage for AI solutions;”April 28,2023World Property and Casualty Insurance Report 2025Capgemini Research Institute 2025World Property and Casualty Insurance Report 2025Capgemini Research Institute 202543About usCapgemini is a global bus

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