The thing about insurance is that it plays a huge part in dealing with accidents, disasters, and losses that most of us would really rather not think about, let alone go through. By their very nature, claims are made in hard times. That’s where insurance pros come in—their life’s work is about helping people prepare for and recover from the worst. The industry as a whole is struggling with evolving risks, increasingly complex coverage scenarios, and rapidly rising costs, while on the consumer side, premiums pose an ever-increasing burden. Westchester-area insurance agents are focused on learning, navigating, and showing up for their clients.
While it is often said that in life, death and taxes are the only inevitabilities, insurance could easily be third on that list. While other industries tighten and shift in response to economic uncertainty, global conflicts, and AI’s growing impact on the workforce, the demand for property and casualty insurance, in particular, remains relatively steady—which means that, despite its maybe less-than-glamorous reputation, insurance is an important and solid business to be in.
Nationally, the U.S. property and casualty insurance industry represents a nearly trillion-dollar market, with roughly $900 billion in annual premiums, according to the National Association of Insurance Commissioners (NAIC). This is all driven by rising property values, increasing liability exposure, and ongoing business formation—all trends that are reflected in Westchester. With downtowns in cities like White Plains, New Rochelle, Port Chester, and Yonkers continuing to be revitalized, more small businesses are emerging, leading to additional need for coverage. At the same time, Westchester’s high-end housing stock—often featuring older homes using unique materials such as stucco and 100-year-old wood—requires specialized insurance.
The industry itself is in a period of transformation, strengthening long-term market stability and improving how risk is understood, priced, and managed, according to the Insurance Information Institute. Technological advances are allowing insurers to be more data-driven and precise in underwriting, and through advanced analytics, catastrophe modeling, and geospatial tools, companies are better able to anticipate risk and try to reduce loss. In that sense, insurance agencies are becoming almost akin to doctors—focused not just on responding to problems after the fact but on helping clients avoid them in the first place.
“The needs of clients are changing as the world evolves,” explains Ashley Engl, Next-Gen Chair of Big-I New York, a national trade association offering education and advocacy for independent insurance agencies. “With the hardening market, the industry has to assess more options and be creative with risk mitigation.” Those broader shifts are playing out on the local level. Some of the major trends, explained below, are clearly affecting Westchester insurance businesses.
Extreme weather is driving up costs for everyone.
Weather-related losses have become one of the biggest forces shaping the industry. Catastrophic events across the country—from wildfires in California to hailstorms in the Midwest to hurricanes in the South—affect insurers’ overall exposure to potential loss, which in turn impacts premiums nationwide. “The Los Angeles fires last year led to the biggest claim in our insurance history, and that impacts rates for everyone,” says Ken Fuirst, co-president of Levitt-Fuirst Associates in Tarrytown.
While Westchester doesn’t typically experience disasters on that scale, it isn’t immune to severe weather. Intense rainstorms, flash flooding, and winter events like January’s snowmageddon have caused significant damage, including frozen pipes and roof issues. Even homes outside designated flood zones can be vulnerable. “If you’re at the bottom of a hill, you need to be cognizant of the water that could potentially come down,” Fuirst points out. As these events become more frequent, premiums are rising, and homeowners are reassessing their policies to be sure they have adequate coverage.
Weather-related losses have become one of the biggest forces shaping the insurance industry.
Auto insurance fraud is pushing premiums higher.
According to the Insurance Information Institute, New York drivers pay an average of $1,935 per household in auto insurance, ranking us fourth-highest nationwide. A press release issued in May by Governor Kathy Hochul’s office stated, “New Yorkers’ insurance rates total an average of slightly more than $4,000 annually, nearly $1,500 above the national average. Car insurance rates are driven up by a combination of fraud, litigation, legal loopholes, and enforcement gaps. Staged crashes and associated insurance fraud inflate premiums up to $300 a year, according to some estimates.” This is driven in part by fraud tied to the state’s no-fault insurance system.
Established in the 1970s, the no-fault system was designed to speed up payments and reduce litigation by requiring drivers’ own insurers to cover medical expenses and lost wages regardless of fault. While it streamlined some aspects of claims, it also led to high claim volumes, disputes over medical treatment, and widespread fraud. This results in higher premiums for everyday drivers, squeezing household budgets.
In response, Governor Kathy Hochul prioritized reform. New regulations recently signed into law aim to tighten liability rules and adjust how damages are awarded, with the goal of lowering costs. The plan faced opposition from trial lawyers and consumer advocates concerned about limiting compensation for injured drivers. However, it could lead to reduced insurance costs as early as sometime next year.
Consolidation is changing the customer experience.
Another major shift in the industry is the growing role of private equity. Investment firms are increasingly acquiring small and mid-sized independent agencies, consolidating operations, and eventually selling them for a profit.
While that strategy can be lucrative for investors, it may come at a cost to customers. Longstanding relationships can be disrupted, and service may become less personalized. Clients who once worked with a dedicated agent may find themselves dealing with rotating contacts that lack the familiarity and level of trust they’re accustomed do.
Strategic coverage choices can better protect homeowners.
As property values rise in Westchester, so does the cost of rebuilding or repairing a home—making adequate insurance coverage more important than ever.
For higher-value homes, experts say it often makes sense to prioritize protection against major, catastrophic losses rather than smaller, routine claims.
“When you have a nice house in Scarsdale or Chappaqua, you allocate your insurance dollars toward the more catastrophic exposures and take higher deductibles,” Fuirst explains. “You don’t insure the small things because you can afford to replace them.”
That approach ensures that if a major event occurs, homeowners have the resources to fully restore their property—including specialized elements like slate roofs or original woodwork—without being underinsured.
AI is improving efficiency—but not replacing people.
Like most industries, insurance is exploring how artificial intelligence can improve efficiency and enhance customer service. AI is already being used to streamline communication and help agents prepare for client meetings. Because insurance policies can vary widely between carriers—and similar coverage can be described or handled differently—AI tools can help agents and clients better understand their options. It can also serve as a training and coaching resource for sales teams, helping them more clearly explain and compare policies. Still, industry professionals emphasize that AI is a supplement, not a substitute, for human expertise. “We’re not looking to replace employees,” says Fuirst. “We’re looking to utilize them better—focusing on technical knowledge and client-facing work instead of getting bogged down with non-productive tasks.”
Local agents still offer a key advantage.
In an era when almost anything can be purchased online—including insurance—it may be tempting to go with the fastest, most convenient option. But insurance is rarely one-size-fits-all, so a quick solution may not be the best one. Working with a local agent offers a level of continuity and expertise that’s hard to replicate through a call center or app. Instead of speaking with a different representative each time, clients have a consistent point of contact who understands their specific needs.
“There are still a lot of people who want to work with someone knowledgeable who can provide personalized guidance,” says Weezie Mullaly, CEO of Mullaly Insurance Agency in Yonkers. “The benefit of a small agency is that I’m your dedicated agent—you can call me or email me with a question anytime.”
Considering a Career Pivot?
Certain skill sets translate well into the insurance business, according to Big I’s Ashley Engl. “There’s a place in insurance for almost any career background,” she says. A few examples:
- Teachers make great insurance salespeople because they’re good at educating others.
- Former athletes also do well in sales because of their competitive nature and focus on hitting goals.
- Retail and hospitality professionals can seamlessly translate their communication and conflict resolution skills into customer service and claims roles.
- Former military and public safety professionals can thrive in risk control and leadership positions.
Some Tools of the Trade
Insurance industry professionals tap into a variety of sources to stay up to date on their ever-changing industry.
- Insurance Information Institute, aka Triple-I, consistently provides data-driven insights to educate industry professionals, public policymakers, consumers, and the media.
- Captive Insurance Companies Association (CICA) is a membership organization that provides educational resources and advocacy geared to the captive insurance industry.
- Big I New York, also a membership association, serves independent agents specifically. Seven Big I state associations founded Catalyit, an organization focused on helping agents understand changes in insurance industry technology.
- Annual “E-Days,” or Education Days, take place regionally all over the U.S., featuring speakers, classes and vendors to help insurance professionals keep current on developments and trends.
- Old-fashioned networking provides real-time feedback. “Captive agency owners will meet, sometimes with independent agents as well. We get lunch or dinner and just talk shop, like, ‘Here’s what I’m seeing, what about you?” says GEICO agent Weezie Mullaly.
Getting Licensed
In New York, to become a licensed insurance agent or broker, you must be 18 and pass a state licensing exam administered by PSI Services, a testing organization contracted by the New York State Department of Financial Services (DFS). First, you must complete coursework either in-person or online in your area of choice, whether Property & Casualty, Life, Accident & Health, or Personal Lines, and then you take the appropriate exam. A college degree is not required to pursue insurance licensure.
Know Any Future-Focused Gen Z-ers?
According to a career study by Cake & Arrow, a product innovation agency that works with the insurance and financial services industries, 79% of Gen Z have never considered working in insurance, and nearly half (49%) say they have no interest in the field. Sixty-seven percent describe insurance careers as boring. Even so, they should consider that 400,000 workers are expected to retire from the insurance industry this year. That creates unique and potentially lucrative opportunities, notes Ken Fuirst, especially for strategic thinkers with excellent listening skills and the ability to project empathy in person and by phone. Big I’s Ashley Engl adds, “As the world is changing, the needs of insurance are changing, too. This is not a career where you’re ever going to be bored.” Weezie Mullaly sums it up this way: “You never really meet anybody who says, ‘I want to grow up and sell insurance.’ But it’s an amazing industry.”
79% of Gen Z have never considered working in insurance
400,000 workers are expected to retire from the insurance industry this year
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