Motor Insurance Price Increases to Decelerate
Motor Insurance Price Increases to Decelerate

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According to a report by Swiss Re, motor insurance price increases are expected to decelerate. As claims inflation eases, insurers will be able to better control premium hikes. The high claims costs in 2023 had led to significant premium increases. However, from 2024 onwards, as claims inflation moderates, the pace of price increases is expected to slow down. Swiss Re recommends that insurers leverage technology and data analytics more effectively to reduce claims costs.
Source and Details: Reinsurance News

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