As we move through 2023, the insurance market landscape is undergoing significant changes. From health and auto to life and property insurance, leaders must adapt to shifting trends and challenges. In our 2023 mid-year market update, we’ll explore key developments and offer insights on how to stay ahead of the curve.
Trends & Outlook
- Attraction & Retention Challenges: In 2022, employers faced record-high job openings and struggled to attract and retain talent. Employees held leverage, pushing for:
- higher pay
- competitive benefits
- more flexibility
Despite signs that this trend may be changing, attraction and retention remains a major challenge for employers—one that’s likely to continue through 2023.
- Inflation & Economic Uncertainty: Experts predict potential recession risks in the coming months due to rising interest rates and prolonged labor market challenges. Inflation has emerged as a significant concern, forcing businesses to make difficult financial decisions amid reduced margins and changing consumer behaviors.
How Kapnick Can Help
Navigating these challenges requires strategic guidance and innovative solutions, which is where Kapnick comes in. We assist our clients in securing coverage and addressing insurance, risk management, and operational challenges through customized solutions for business insurance, employee benefits, and personal insurance.
Our proactive approach to risk includes services such as:
- risk analytics
- advanced modeling
- loss control surveys
- claims advocacy
We’re passionate about providing insights that help clients become more efficient and implement impactful strategies to respond to today’s trends and tomorrow’s emerging challenges.
By partnering with Kapnick, you can deliver value and stand out in the competitive market—whether it’s obtaining the best terms, rates, and coverages or attracting and retaining top talent. Our risk professionals are ready to work with you to develop the right strategy for your goals in 2023 and beyond.
Check out our complete 2023 mid-year market update for more information, or reach out at info@kapnick.com or 888.263.4656.
