Insurance Industry Faces Evolving Risks: Insights from Survey

A recent survey by The Insurance Information Institute (Triple-I) and Munich Re outlines critical concerns for the insurance industry, such as cyber incidents, economic challenges, and the rise of artificial intelligence. The RiskScan 2026 study gathered insights from over 1,700 U.S. and U.K. participants, including consumers, small-business owners, middle market decision-makers, P&C insurance agents, brokers, and carriers.

Michel Léonard, chief economist at Triple-I, highlighted the survey's findings, emphasizing the influence of catastrophic events, cyber threats, economic inflation, and geopolitical instability on today's risk landscape. Léonard pointed out that these factors are increasing insurance risks, affecting affordability, claims severity, and capital allocation, thereby challenging the market's long-term stability.

The survey findings reveal that participants are particularly concerned about economic inflation, downturns, and rising property insurance costs. Triple-I CEO Sean Kevelighan stressed the industry's responsibility in closing protection gaps and collaborating with stakeholders to improve risk management through better prediction, preparation, and prevention strategies.

The report also examines the role of artificial intelligence in the insurance industry, recommending its application in specific areas to maintain human oversight in critical decision-making processes. Furthermore, it addresses external challenges, such as FEMA's proposed changes affecting the public power sector and the commercial risks posed by deepfakes, indicating the complex landscape insurers must navigate.

Overall, the report underscores that the insurance sector is experiencing significant operational shifts driven by digital transformation and evolving risks, urging insurers to adapt strategically to sustain market stability and consumer trust.