News

New Big “I” survey reveals that only 3 in 10 Americans (31%) review or shop for insurance each year, with many waiting until premiums increase, major life changes occur, or coverage issues arise.

From artificial intelligence (AI)-driven operational shifts and dynamic climate modeling to heightened cyber and privacy risks, 2026 is shaping up to be a year of transformation for the insurance industry.

As homeowners contend with inflation, extreme weather and increasingly complex coverage needs, new reports from Nationwide and The Hanover reveal widening gaps in insurance coverage—and an expanding role for agents helping clients navigate today’s risk environment.

Nearly half of U.S. homeowners have seen their insurance premiums increase over the past year, signaling growing concerns over insurer loyalty and long-term profitability, according to J.D. Power.

Nationally, homeowners insurance rates jumped 11.4% in 2024, with double-digit increases reported in the last two years.

While most homeowners are familiar with common risk areas and the technologies designed to mitigate them, relatively few have implemented these solutions in their own homes, according to The Hanover.

A record 6.8% of all home insurance customers are actively shopping for new policies in 2024, yet only 2.2% of homeowners switched policies as a result.

As auto insurance shopping rates rose during the fourth quarter of 2023, carrier retention rates dropped.