Hippo Insurance CTO insurtech predictions for 2023

As we welcome the new year, it's natural to reflect on the year that passed and look ahead to the challenges and opportunities that lie ahead, and more specifically how new technologies might impact the insurance industry. As always, we must separate the signal from the noise. For many, artificial intelligence is a perennial buzzword, but paradoxically, it appears the technology is largely still in its infancy in the insurance industry, and especially in the home insurance space. Regulators and insurers alike are understandably grappling with challenges created by the lack of model explainability, presenting challenges for the widespread use of AI to directly evaluate and price risk for homeowners insurance in the near future. Instead, major technological innovation in homeowners insurance in the coming year will likely come from solutions and tools designed to improve the ingestion and processing of data in ways that positively impact the consumer experience throughout their homeownership journey.