Shifting Gears: How Insurance Companies Are Adapting to Global Risks and Evolving Their Business Models

Insurance has long been a way to protect against unexpected events, such as extreme weather conditions and technological risks. With the increase in hurricanes, flooding, heatwaves, malware, data breaches, and identity theft, insurance companies are recognizing the need to evolve their business models to prevent instability and avoid asset loss before it happens. The Deloitte’s 2024 Global Insurance Outlook report highlights this shift and the awareness among insurers globally.

To identify which insurance companies are ahead in adapting to these changes and global risks, Forbes partnered with Statista for the second year in a row. They surveyed over 45,000 individuals across 15 countries who have held insurance policies for their home, car, or life within the last three years. Respondents rated their satisfaction with their insurer, willingness to recommend it, and criteria such as customer service, advice, price performance, transparency, and damage service. The analysis of survey responses led to the identification of the top insurance companies that made it to the final lists in the homeowners