As we approach 2022, North American insurers face a daunting set of challenges. They’re beset by well-backed, nimble upstarts like Lemonade, who are eager to grab an increasing share of business, establish footholds in new business lines and knock traditional players off the throne.

They also find themselves in a radically different competitive environment than even five years ago. In a world where consumers are accustomed to ease of use, seamless experiences and “one-stop” shopping, carriers have been forced to adapt or risk perishing. But in their urgency, are they leaving an opportunity on the table?