What P&C insurers can do as claims inflation pressures results in Europe

The property and casualty (P&C) claims landscape is becoming increasingly challenging due to unprecedented claims inflation. There are many underlying causes—among them, the COVID-19 pandemic, the invasion of Ukraine, and global supply chain disruptions. Claims executives have already been dealing with steadily increasing costs over the past few years. Results are being threatened by growing inflationary pressures and the already razor-thin margins in many markets that further exacerbate the problem (Exhibit 1). In fact, the entire market is struggling to cope with these challenges, as a competitive advantage is becoming increasingly difficult to maintain and customers are becoming more demanding.

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