NAICS 524126 - Direct Property and Casualty Insurance Carriers
This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) insurance policies that protect policyholders against losses that may occur as a result of property damage or liability.
Industry trends:
The Direct Property and Casualty Insurance Carriers industry (NAICS 524126) is currently experiencing several notable qualitative trends. Firstly, there is an increasing adoption of advanced technologies such as artificial intelligence and machine learning to underwrite policies more accurately and efficiently. Insurers are leveraging big data analytics to enhance risk assessment and personalized pricing, which is reshaping traditional approaches to underwriting and claims processing.
Secondly, customer demand for digital and seamless service experiences has risen considerably. Insurtech startups and established insurers alike are investing in digital platforms to offer end-to-end policy management, claims filing, and customer support through mobile apps and online portals, aiming to improve customer satisfaction and retention.
Thirdly, climate change is becoming a critical factor in shaping the industry's outlook. The increasing frequency and severity of natural disasters have prompted insurers to refine their models and strategies around coverage offerings and risk mitigation efforts. This trend also emphasizes the need for enhanced collaboration with governmental entities to develop resilient infrastructure and disaster response frameworks.
Looking ahead, forecasts suggest that the integration of blockchain technology could revolutionize claims management by increasing transparency, reducing fraud, and expediting the claims settlement process. Additionally, the rise of the gig economy is expected to generate new insurance products tailored to freelancers and gig workers. Insurers who adapt promptly to these evolving trends and technological advancements will likely benefit from improved operational efficiencies and strengthened competitive positions in the market.
This industry is comprised of:
Agricultural (i.e., crop, livestock) insurance carriers, direct
Automobile insurance carriers, direct
Bonding, fidelity or surety insurance, direct
Burglary and theft insurance carriers, direct
Casualty insurance carriers, direct
Credit and other financial responsibility insurance carriers, direct
Crop insurance carrier, direct
Fidelity insurance carriers, direct
Fire insurance carriers, direct
Homeowners' insurance carriers, direct
Insurance carriers, fidelity, direct
Insurance carriers, property and casualty, direct
Insurance carriers, surety, direct
Insurance underwriting, property and casualty, direct
Liability insurance carriers, direct
Malpractice insurance carriers, direct
Marine insurance carriers, direct
Mortgage guaranty insurance carriers, direct
Plate glass insurance carriers, direct
Property and casualty insurance carriers, direct
Property damage insurance carriers, direct
Surety insurance carriers, direct
Workers' compensation insurance underwriting
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.