However, these pressures are unlikely to translate into a uniform surge in insurance premiums across the market, said Mr Korunic. "Premium movements will be more selective and differentiated, depending on how effectively insurers manage risk, design coverage and leverage data and technology." For insurers, the key challenge is to balance affordability with long-term protection value, while continuing to build trust through transparency and simplicity, said Mr Korunic. Insurance products that are difficult to understand or feel disconnected from everyday life will "struggle to resonate", he said. "Insurers who can make coverage easier to understand, easier to buy and easier to claim will earn long-term trust."
