{"id":14740,"date":"2022-03-02T15:57:44","date_gmt":"2022-03-02T12:57:44","guid":{"rendered":"https:\/\/insly.com\/?p=14740"},"modified":"2023-08-18T14:08:46","modified_gmt":"2023-08-18T11:08:46","slug":"insly-insurance-market-outlook-trends-for-2022","status":"publish","type":"post","link":"https:\/\/insly.com\/en\/blog\/insly-insurance-market-outlook-trends-for-2022\/","title":{"rendered":"Insly Insurance Market Outlook: Trends for 2022"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><p>What\u2019s the outlook for the insurance market in 2022? <a href=\"https:\/\/insly.com\/\" target=\"_blank\" rel=\"noopener\">Insly\u2019s<\/a> CEO <a href=\"https:\/\/www.linkedin.com\/in\/ristorossar\/\" target=\"_blank\" rel=\"noopener\">Risto Rossar<\/a> explains his vision of how the upcoming year will affect Insurers and MGAs and what the trends will be.<\/p>\n<p>Risto points out two major trends in the insurance space: the rise of no-code and low-code insurance software and insurance distribution moving from direct to Broker side.<\/p>\n<p style=\"text-align: center;\"><iframe title=\"YouTube video player\" src=\"\/\/www.youtube.com\/embed\/AdHnIZPA14A\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<h2>The Rise of No-Code\/Low-Code Insurance Software<\/h2>\n<p>This trend is coming from within the insurance software industry. At the moment, the industry is moving into the no-code and low-code space at speed. In the future, or actually already now, insurance companies, MGAs, and Brokers are able to implement insurance software. Implementation means building products and financial systems, building everything they need, like documents and workflows, without writing any line of code.<\/p>\n<p>Insly is almost there. Of course, we have a lot to do and we see others moving in that direction. It\u2019s a huge win for the insurance industry. Risto thinks it&#8217;s comparable to the innovation we saw in the postal industry, when it moved from the pigeon post to e-mail. Pigeon post is slow, expensive, and unpredictable &#8211; when you send the post, you can\u2019t be sure where it will end up. Old-school software development is similar, it\u2019s expensive, slow, and unpredictable &#8211; you actually don&#8217;t know what you will get before it&#8217;s done.<\/p>\n<p><strong>No-code and low-code insurance software is different. It&#8217;s fast and cheap, and you see right away what you will get out of it.<\/strong><\/p>\n<h2>Insurance Distribution Moving from Direct to Brokers<\/h2>\n<p>There are still a lot of insurance products in many insurance markets that are sold through Brokers and Agents. Our job within the industry is to turn these insurance salesmen into digital superstars.<\/p>\n<p><strong>We should bring the Uber or Bolt moment into the insurance industry, so that insurance Brokers can serve their customers in a digital way.<\/strong><\/p>\n<p>That will help the insurance industry tremendously, because the costs and the service level in the Broker and Agent channel are too high at the moment. These can be brought down with a much bigger increase in the service quality.<\/p>\n<p>Stay tuned for another post about the insurance market outlook for 2022, where Risto will focus on the challenges ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What\u2019s the outlook for the insurance market in 2022? Insly\u2019s CEO Risto Rossar explains his vision of how the upcoming year will affect Insurers and MGAs and what the trends will be. Risto points out two major trends in the insurance space: the rise of no-code and low-code insurance software and insurance distribution moving from [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":14376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[39,78],"tags":[124,26,130],"class_list":["post-14740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance-innovation","category-mga","tag-insurance-industry","tag-insurance-innovation","tag-insurance-market"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Insly Insurance Market Outlook: Trends for 2022 - Insly<\/title>\n<meta name=\"description\" content=\"What\u2019s the outlook for the insurance market in 2022? Risto Rossar explains his vision of the insurance market and what the trends will be.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insly Insurance Market Outlook: Trends for 2022 - Insly\" \/>\n<meta property=\"og:description\" content=\"What\u2019s the outlook for the insurance market in 2022? Risto Rossar explains his vision of the insurance market and what the trends will be.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/insly.com\/en\/blog\/insly-insurance-market-outlook-trends-for-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Insly - Design &amp; deliver insurance products\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/inslycom\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-02T12:57:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-18T11:08:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insly.com\/wp-content\/uploads\/2022\/03\/Trends-blog.png\" \/>\n\t<meta property=\"og:image:width\" content=\"2004\" \/>\n\t<meta property=\"og:image:height\" content=\"782\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mohammadreza Gharaeiyan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@insly_com\" \/>\n<meta name=\"twitter:site\" content=\"@insly_com\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohammadreza Gharaeiyan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/insly.com\/en\/blog\/insly-insurance-market-outlook-trends-for-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/insly.com\/en\/blog\/insly-insurance-market-outlook-trends-for-2022\/\"},\"author\":{\"name\":\"Mohammadreza Gharaeiyan\",\"@id\":\"https:\/\/insly.com\/en\/#\/schema\/person\/950c68d1ff5bf7ef863ec7ad752aa8e5\"},\"headline\":\"Insly Insurance Market Outlook: Trends for 2022\",\"datePublished\":\"2022-03-02T12:57:44+00:00\",\"dateModified\":\"2023-08-18T11:08:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insly.com\/en\/blog\/insly-insurance-market-outlook-trends-for-2022\/\"},\"wordCount\":384,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insly.com\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/insly.com\/en\/blog\/insly-insurance-market-outlook-trends-for-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insly.com\/wp-content\/uploads\/2022\/03\/Trends-blog.png\",\"keywords\":[\"Insurance industry\",\"insurance innovation\",\"insurance market\"],\"articleSection\":[\"Insurance Innovation\",\"MGA\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insly.com\/en\/blog\/insly-insurance-market-outlook-trends-for-2022\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insly.com\/en\/blog\/insly-insurance-market-outlook-trends-for-2022\/\",\"url\":\"https:\/\/insly.com\/en\/blog\/insly-insurance-market-outlook-trends-for-2022\/\",\"name\":\"Insly Insurance Market Outlook: Trends for 2022 - Insly\",\"isPartOf\":{\"@id\":\"https:\/\/insly.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/insly.com\/en\/blog\/insly-insurance-market-outlook-trends-for-2022\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/insly.com\/en\/blog\/insly-insurance-market-outlook-trends-for-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insly.com\/wp-content\/uploads\/2022\/03\/Trends-blog.png\",\"datePublished\":\"2022-03-02T12:57:44+00:00\",\"dateModified\":\"2023-08-18T11:08:46+00:00\",\"description\":\"What\u2019s the outlook for the insurance market in 2022? 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