New data from Evident's Insurance AI Patent Tracker shows that AI innovation in the insurance sector remains highly concentrated. Three United States Property and Casualty insurers, State Farm, USAA, and Allstate, account for 77% of all AI patents filed over the past decade.

Since January 2023, 30 major insurers across North America and Europe have filed 166 AI patents. Although interest in generative AI has increased for claims and customer service, filings remain 30% below the 2020 peak.

Property and casualty insurers continue to dominate AI patent activity. The report shows that they hold 89% of all filings. Much of this innovation centers on telematics, IoT-driven risk monitoring, and other sensor-based systems that meet the technical contribution requirements for patent eligibility in the United States and Europe.

Generative AI patents rose significantly. They increased from 4% of filings to 31% in 2023. However, agentic AI remains uncommon. Only three insurers have pursued patents in this field, with USAA leading activity.

Strategic Applications and Competitive Implications for the Industry

The report highlights several notable applications. USAA is using generative AI to analyze aerial imagery for property damage assessment. State Farm employs machine learning for claims triage and autonomous vehicle fault analysis. Allstate has developed an in-vehicle AI assistant to automate claims and an interpretable AI for underwriting and document indexing. Liberty Mutual utilizes generative AI to generate release notes for its engineering teams. Zurich Insurance Group has created an AI system that standardizes and clears user-typed addresses.

From an industry standpoint, the concentration of AI patent filings reflects competitive and strategic implications. Leading P&C insurers are leveraging intellectual property to safeguard investments in emerging AI technologies that enhance claims processing, underwriting, and customer engagement. For smaller insurers, the patent gap indicates a potential challenge in keeping pace with competitors that are deploying AI-driven operational efficiencies.

Evident noted that the sector faces a critical decision about whether AI patents will remain concentrated among a few frontrunners or develop into a broader competitive tool. As generative and agentic AI reshape the value chain, insurers will need to determine whether to adopt intellectual property defensively or invest proactively to advance innovation across claims, risk management, and customer experience.

A new analysis examines how market concentration among commercial health insurers has shifted across the large group, small group, and individual markets from 2013 to 2023. The review uses enrollment data for fully insured and individual plans from Mark Farah Associates, along with data for self-funded plans for selected charts. It evaluates market competition through three measures. These include the market share of each state's largest insurer, the number of insurers within a state that hold at least 5 percent market share, and the Herfindahl-Hirschman Index, which is a widely used metric to assess market concentration across industries.

Regulation and the market power of other healthcare stakeholders influence how consolidation affects prices and enrollee experience. High concentration may give insurers more leverage to negotiate lower payments to providers. However, limited competition may reduce incentives to lower enrollee costs and may restrict the choices available to purchasers.

Although insurer participation often varies within states, the analysis focuses on state-level data and national averages. These figures illustrate broad trends in competitiveness, but they may not fully reflect the local markets where consumers access coverage. Group market plans may cover employees who live across the country, while individual market plans often apply at the county or local level. In many cases, insurers do operate statewide.

Across commercial health insurance markets, concentration remained high between 2013 and 2023. However, the individual market became more competitive after 2020, while fully insured group markets became less competitive. Most people who purchase individual market coverage do so through the Affordable Care Act Marketplaces. Coverage purchased through the Marketplace often complies with ACA standards, which means it generally aligns with the designs of Marketplace plans.

Enrollment Dominance Among the Largest U.S. Parent Companies

The analysis also highlights that a small number of health insurers account for most enrollment in several major coverage categories. These include fully insured and self-funded private insurance, Medicaid Managed Care, Fee-for-Service type Medicaid programs, and Medicare Advantage. As of 2025, UnitedHealth, Elevance Health, and CVS Health are the three largest parent companies in the United States. Insurers often specialize in different markets. For example, most of Centene’s medical membership participates in Medicaid, while most of UnitedHealth’s medical membership participates in commercial insurance.

Insurance premiums for homeowners have risen sharply in recent years, and Realtor.com reports that many policyholders now adjust their coverage choices to manage costs. A key response has been the greater acceptance of higher deductibles, which can lower premiums but shift more financial responsibility to the homeowner in the event of a loss.

USAA members will receive about $3.7 billion in financial rewards in 2025, marking the largest return to members in the Association’s 103-year history. This record total stands out against last year’s $2.2 billion in rewards. USAA says the increase reflects its commitment to military families and its focus on delivering value to members.

Record Financial Rewards in 2025

USAA announced that members are receiving approximately $3.7 billion in financial rewards in 2025. The Association describes this as the highest amount returned to members since USAA’s founding 103 years ago. In comparison, members received $2.2 billion in financial rewards in the previous year.

USAA attributes the record rewards to financial discipline that keeps the Association financially sound while still providing value. The company also points to proactive steps taken by both USAA and members to prevent losses.

Recent Support Initiatives for Members

The announcement follows several recent efforts aimed at supporting members. During a recent government shutdown, USAA provided members with nearly $450 million in zero-interest loans, payment extensions, and fee waivers.

In November, USAA also launched Honor Through Action, which it describes as a five-year, $500 million initiative. The program seeks to strengthen military family resiliency by bringing together public, private, and nonprofit partners. USAA says the initiative focuses on three pillars: meaningful careers, financial security, and overall well-being.

Leadership Perspective

Juan C. Andrade, President and CEO of USAA, said the Association places members at the center of its decisions. He stated that sharing financial results with members reflects USAA’s responsibility to deliver strong value and exceptional service for the military community. He also said USAA takes action every day to keep costs down and protect the long-term value of membership. Andrade added that the company will continue pushing for reforms aimed at addressing broader factors that increase insurance costs for consumers.

Auto Rate Stabilization and Member Savings

USAA has focused on stabilizing auto rates. The company reports that its auto insurance rate changes have been lower on average than competitors and the broader industry. USAA says members save an average of about $100 annually per policy because of these lower changes.

USAA expects rates to continue stabilizing in 2026. At the same time, the company notes that rates vary based on factors such as claims trends, state trends, and a member’s driving record.

Programs to Help Members Reduce Premiums

USAA states that its rewards and rate stabilization efforts support military families. To help members save on insurance premiums, USAA offers bundling and discount programs. Examples include:
• USAA SafePilot®, which the company says saves members an average of over $230.
• Connected Home, which supports early water leak detection.

USAA also notes that if members experience a claim, the company works with them to help them recover quickly.

Expanded Outreach in 2025

In 2025, USAA expanded proactive outreach to members. The company says it reached nearly 3 million policyholders with personalized guidance. This outreach aimed to help members manage insurance costs, identify savings opportunities, and take proactive steps to prevent loss.

About USAA

USAA was founded in 1922 by a group of military officers. The company provides insurance, banking, and retirement solutions. USAA serves 14 million members of the U.S. military, veterans who have honorably served, and their families. The company is headquartered in San Antonio and operates offices in eight U.S. cities and three overseas locations. USAA employs more than 38,000 people worldwide and contributes each year to national and local nonprofits that support military families and communities where employees live and work.

Back-to-back atmospheric rivers will bring heavy rain and significant flood risk to parts of western Washington and Oregon through Thursday, with additional storms expected beyond the middle of December. Meteorologists predict that the setup will bring multiple rounds of moisture from the Pacific, raising concerns about urban flooding, small streams, and larger rivers across the region.

Atmospheric Rivers Lining Up Over the Pacific Northwest

Storms are lining up offshore and moving inland with increasing moisture. Some of the most intense rain producers will be atmospheric rivers, which concentrate heavy rainfall into a relatively narrow corridor. A long plume of moisture, sometimes referred to as the Pineapple Express, will stretch from west of Hawaii into the interior northwestern United States through at least midweek. Forecasters expect this plume to fuel many inches of rain in a short period.

As the storms arrive, the moisture feed will push inland across Washington, northern Oregon, northern Idaho, and western Montana. The result will be a mix of flooding types, ranging from water collecting in metro areas to rapid rises on small streams and short-run rivers.

Flooding Expected Across Streams and Rivers

Forecasters warn that low-lying roads near streams and rivers may become impassable due to high water. In some areas, the risk of flooding and mudslides could rise to extreme levels, and authorities may consider evacuations if conditions worsen. Motorists should expect hazardous travel from repeated downpours, blowing spray, and ponding on roads. Conditions may also deteriorate at Seattle-Tacoma International Airport, potentially leading to delays.

Nearly every small stream and short-run river in parts of Washington and Oregon is expected to reach at least minor to moderate flooding. In the Washington Cascades, several rivers are already at moderate to high flood stage. AccuWeather meteorologists report that multiple rivers downstream of Mount Rainier could approach or exceed record levels that have not been reached in approximately 75 years.

The Snohomish River at Snohomish, Washington, is forecast to set a new record height of 35.30 feet on Friday. The river gauge at Snohomish has been in operation since 1949. Meanwhile, the Grays River at Covered Bridge near Rosburg, Washington, set a new record Monday night at 33.36 feet. The gauge near Rosburg has been in operation since 2005, and its previous record was 33.15 feet, set on December 3, 2007. Several other locations along rivers in the region are forecast to crest within a foot of their records.

Rainfall Totals Could Reach Twice the Normal December Amount

A large zone in the Pacific Northwest, including Portland, Oregon, is forecast to receive 4 to 8 inches of rain from Monday through Wednesday night. Within that zone, pockets of 8 to 12 inches are expected, especially along west-facing slopes of the Pacific Coast ranges and the Cascades in Washington and northern Oregon. AccuWeather’s Local StormMax for the first half of the week is 22 inches.

December typically brings frequent rain to the Pacific Northwest. However, forecasters say the storm pattern in the weeks ahead could deliver twice the normal monthly rainfall in some areas. For context, Seattle’s historical December average is 5.72 inches. Astoria, Oregon, averages 10.68 inches, and Stampede Pass, Washington, averages 12.60 inches when including rain and melted snow. With multiple storms in line, totals in some locations may exceed those benchmarks quickly.

Mudslides, Road Washouts, and Avalanche Risk

In addition to flooding, saturated topsoil will increase the likelihood of road washouts and mudslides. Debris flows are expected to be most common in and near areas that have experienced wildfires, although they may also occur elsewhere as soils become destabilized.

At the highest elevations of the Cascades, where heavy snowpack and fluctuating temperatures create unstable conditions, avalanche risk will increase. Still, freezing levels are expected to remain high enough that most storms this week will bring rain rather than snow to mountain passes, which may limit pass closures tied to snowfall even as runoff rises.

NOAA Aircraft to Investigate the Storms

Hurricane Hunter aircraft from the Air Force Reserve’s 53rd Weather Reconnaissance Squadron will investigate the atmospheric rivers during the tropical offseason. According to the latest NOAA schedule, aircraft are scheduled to study the storms this week, helping to improve the understanding and forecasting of these moisture-driven events.

Pattern Shifts Later This Week, Then Reloads

Forecasters expect a brief easing or a northward shift in the storm sequence during the latter part of the week. After that, the storm track is projected to move farther south again next week. The storms are expected to grow larger in size, bringing a return of heavy rain and high-country snow from this weekend into next week.

Until that shift occurs, a northward bulge in the jet stream will dominate. This change will lead to unusual warmth across much of the West Coast during the middle part of December. Farther inland, the warmth will peak on Wednesday in portions of Montana and Wyoming. Then colder air will press in, and locally heavy snow is expected to develop on Thursday.

Continuing Impacts Into Mid-December

Rounds of moisture will continue to move through the coastal Northwest, and periodic flooding and mudslide problems are expected as the storm train persists. With rivers already elevated and more rain on the way, conditions will remain sensitive to additional surges of precipitation through at least mid-December.

Gold and other precious metals have surged in value over the past year, and that rise is creating a practical coverage question for homeowners and renters with jewelry. A recent CNBC article reports that jewelry owners may want to review their homeowners insurance limits and consider whether additional protection is needed, especially for higher-value pieces.

Precious Metal Prices Are Rising Quickly

Gold prices have climbed sharply. The cost of a troy ounce, which equals 31.1 grams, is up about 58% over the last year to roughly $4,200 in Monday morning trading. Other metals used in jewelry have also experienced significant price increases during the same period. Platinum has increased about 76% to around $1,651 per troy ounce. Silver has climbed about 84% to about $58 per troy ounce. Looking longer term, gold’s price has increased roughly 1,400% since 2000. Over the same timeframe, the Standard & Poor’s 500 index has gained approximately 382%.

These increases matter for insurance because the replacement cost of jewelry today may exceed older appraisals. Loretta Worters, spokesperson for the Insurance Information Institute, said a piece bought or last appraised years ago could now cost significantly more to replace.

Gold Jewelry Leads The Market

Gold jewelry represents the largest share of the global jewelry market. Grand View Research found that gold jewelry accounted for 54.9% of the $366.8 billion global jewelry market in 2022. Retail prices are generally higher than the intrinsic value of the metal, although the difference varies depending on the quality and gold content.

The commonly referenced spot price applies to pure gold, or 24 karat gold, which is soft and malleable. Therefore, jewelry makers mix gold with other metals, often silver, zinc, or copper, to strengthen pieces or change their hue. For example, 14 karat gold jewelry is 58.3% gold, while 10 karat is 41.7% gold. As karat increases, gold content and intrinsic value also rise.

Standard Policies Have Low Jewelry Limits

Even as values rise, homeowners and renters policies often provide limited jewelry coverage. Most policies cover jewelry as personal property for common risks, such as theft or fire, but they typically apply special limits, usually around $1,000 to $2,500 in total. They also typically do not cover accidental loss or wear and tear, according to Sarah Cast, Specialty Lines Vice President at Allstate.

Cast added that owners of higher-value pieces should check policy limits and consider options to fill coverage gaps, particularly with gold values climbing.

Scheduling And Updated Appraisals

Owners may add a rider to an existing policy or buy a standalone jewelry policy. However, because some options impose per-piece limits, owners should confirm the value of each item. Worters said many insurers and advisors recommend reappraising jewelry every few years, especially when market conditions shift.

For high-value items, owners may want to schedule them for pickup. Scheduling involves creating a detailed list of each piece, including photos, an appraisal or sales receipt, and the cost to replace it. Coverage can range from a few thousand dollars to hundreds of thousands of dollars, depending on the items and insurer. Deductibles typically do not exceed $500, and premiums usually range from 1% to 3% of the insured value annually. Scheduled coverage may also include broader protections such as mysterious disappearance, accidental loss, and sometimes damage. Some valuable articles' policies can automatically adjust for rising value under certain conditions.

Cast advised owners to take inventory with photos and appraisals, store documents safely, and then review policy details with an insurer or agent to decide whether to add protection or purchase separate coverage.

Gallagher Re released its Mortgage Market Report for Q4 2025. The quarterly report reviews the major economic drivers shaping the mortgage market and highlights the performance of credit risk transfer. It also includes an origination quality index derived from Freddie Mac’s ACIS and STACR programs.

Economic indicators from the quarter suggest a supportive environment for mortgage activity. Gross Domestic Product grew by 1.0% during the quarter and rose 2.0% year over year. Meanwhile, the unemployment rate increased slightly to 4.3%. At the same time, personal income per capita climbed to a record $76.3K per household, up $1.8K. The labor force participation rate held steady at 62.3%, aligning with levels seen from 2015 through 2018.

Interest rate conditions shifted during the quarter. Treasury yields and mortgage rates declined, which the report links to a more accommodative Federal Reserve policy stance. The Federal Reserve implemented two 25-basis-point rate cuts in the period. However, the report states that future reductions remain uncertain because the Federal Reserve continues to base decisions on incoming data. In addition, a government shutdown delays the release of several key indicators, which adds uncertainty to near-term rate expectations.

On the origination and securitization side, the report notes subdued volumes. Quarterly GSE securitization volumes remained near 10-year lows. Even so, Freddie Mac’s market share stayed steady at more than 50%. The estimated credit risk transfer-eligible share of new securitizations also remained near an all-time high, at roughly 80%. These figures outline the competitive and structural conditions for CRT participation as of 2026.

Home price trends showed modest growth in the quarter. National home prices rose 0.3% during Q4 and increased 1.6% year over year. Looking across states, 44 of 51 states, including Washington, D.C., recorded annual home price appreciation. The report cites a range from a 3.0% decline in Florida to an 8.4% increase in Connecticut. The most substantial annual growth clustered in the Northeast and Midwest.

Overall, Gallagher Re’s Q4 2025 Mortgage Market Report presents an economy with steady income gains and easing rates, alongside low securitization volumes and varied but broadly positive home price movement across most states. The report positions these factors as the key conditions shaping mortgage market performance at the end of 2025.