Rising Insured Losses and Evolving Consumer Expectations
Global insured losses from catastrophic weather events are projected to reach $145 billion in 2025, up from $137 billion in 2024, according to Swiss Re Institute research. The California wildfires in January alone caused an estimated $40 billion in insured losses. In response, insurance companies are innovating and improving efficiency while managing rising claim severity driven by inflation and climate-related events.
“Insurers are under pressure from multiple fronts,” says Jeff Gill, Americas insurance sector leader at EY. “They must innovate, operate more efficiently, and accelerate speed to market while managing rising claim severity and growing regulatory demands.” Consumers can reasonably expect insurers to provide peace of mind, flexibility, and seamless digital experiences.
Top Insurance Companies in 2025
AXA UK is delivering on these expectations, ranking No. 7 in homeowners insurance and No. 4 in auto insurance in the U.K. according to Forbes’ 2025 rankings. The company aims to provide “peace of mind, flexibility and choice” along with intuitive digital journeys. Allianz had a strong showing globally, ranking in 10 countries, including Germany where it placed No. 6 in homeowners, No. 15 in auto, and No. 6 in life insurance.
Allianz’s Proactive Approach to Climate Disasters
Allianz is tackling climate disasters head-on with an AI-based severe weather warning system that predicts exact locations and impacts of extreme weather events. The company sends an average of 10 to 12 warnings per year to each German customer, enabling them to protect their assets. During the 2024 flooding in Southern Germany, Allianz deployed specialized claims task forces and dispatched thousands of drying devices to aid recovery efforts.
Customer-Centric Strategies
MAPFRE España, which ranked No. 1 in homeowners insurance, No. 2 in auto, and No. 4 in life insurance in Spain, prioritizes long-term customer relationships over sales volume. The company focuses on quality products, excellent customer service, and optimizing responsiveness while strengthening digital processes.
Balancing Digital Efficiency and Human Touch
Insurance companies recognize that while digital efficiency is crucial, personal contact remains vital for customers, especially after tragic events. Allianz’s strategy includes providing easy online access while maintaining the option to connect with human representatives. This balance between technology and human empathy is key to meeting customer needs during challenging times.
Methodology Behind the Rankings
Forbes partnered with Statista to survey over 45,000 people across 15 countries who held insurance policies within the last three years. Respondents rated their insurers based on employee advice, customer service, price performance, transparency, and claims service. The top 304 insurance companies were ranked across three categories: homeowners, auto, and life insurance.
