In 2023, insurance leaders will navigate turbulence not seen since the 2008 financial crisis. Insurance cover will shrink or disappear as consumers and small businesses face cash flow pressures. Tech teams will batten down the hatches with less fulsome budgets and greater regulator attention on AI — the technology that’s most likely to help them thrive. More insurers will launch value-added services that shore up revenues while reducing claims. And recession reality comes home to roost as the IPO market evaporates, with many insurtechs exiting through wind downs, roll-ups, or carrier acquisitions. In this report, we delve into Forrester’s predictions for insurance in 2023.