Carrier Management

23/11/2024

Speed to market is critical for MGAs in today’s fast-changing insurance world. But success isn’t just about speed—it’s about launching effectively.

Watch this on-demand webinar from our friends at Vertafore to learn:
✅ Navigating uncertainty in product development.
✅ Optimizing tech for rapid launches.
✅ Using APIs for seamless communication.
✅ Building a winning team.

Register now! https://ecs.page.link/kq1h6

In today's quickly transforming insurance landscape, speed to market is essential for...

22/11/2024

It is “how” commercial lines carriers execute their underwriting strategies, not “what” lines they write that is key to profitable growth for top performers, according to new research from McKinsey. https://ecs.page.link/mrXee

It is “how” commercial lines carriers execute their underwriting strategies, not “what” lines they write that is key to profitable growth for top performers, according to new research from McKinsey. A section of the consulting firm’s recently published “Global Insurance Report 2025: The ...

21/11/2024

Despite a consistent drop in the number of structurally deficient bridges in the U.S since 2020, one in three still needs to be replaced or repaired, according to a recent report from the American Road & Transportation Builders Association.

There are 168.5 million crossings on nearly 42,100 bridges rated in poor condition.

Despite a consistent drop in the number of structurally deficient bridges in the U.S since 2020, one in three still needs to be replaced or repaired, according to a recent report from the American Road & Transportation Builders Association. There are 168.5 million crossings on nearly 42,100 bridges....

21/11/2024

Cyber crime, climate change, and business interruption are the chief risk concerns among key marketplace segments in the insurance industry, a new survey from Munich Reinsurance America Inc. and the Insurance Information Institute (Triple-I) showed. https://ecs.page.link/n4Ntb

Cyber crime, climate change, and business interruption are the chief risk concerns among key marketplace segments in the insurance industry, a new survey from Munich Reinsurance America Inc. and the Insurance Information Institute (Triple-I) showed. “RiskScan 2024” revealed the top risk concerns...

15/11/2024

While a $2.4 billion boost in loss reserves for the third-quarter will help Swiss Re’s executives sleep better on a bigger cushion, across the industry, worsening trends in U.S. liability loss costs aren’t letting up, they said earlier this week. https://ecs.page.link/er6rv

While a $2.4 billion boost in loss reserves for the third-quarter will help Swiss Re’s executives sleep better on a bigger cushion, across the industry, worsening trends in U.S. liability loss costs aren’t letting up, they said yesterday. In fact, Swiss Re put up higher reserves for recent prior...

13/11/2024

Rate hikes haven’t been enough to bring profits to U.S. homeowners insurers, according to a new analysis from Aon, which finds that returns-on-equity for a group of homeowners insurers studied are negative in more than half of U.S. states.
https://ecs.page.link/p1upP

Rate hikes haven’t been enough to bring profits to U.S. homeowners insurers, according to a new analysis from Aon, which finds that returns-on-equity for a group of homeowners insurers studied are negative in more than half of U.S. states. The negative prospective returns were calculated by Aon fo...

13/11/2024

Back-to-back hurricane landfalls in the span of less than two weeks have placed flood insurance in a new light for many inside and outside of the insurance industry, if not front and center. https://ecs.page.link/DMtRF

Back-to-back hurricane landfalls in the span of less than two weeks have placed flood insurance in a new light for many inside and outside of the

13/11/2024

A majority of American retail workers (57 percent) report feeling unsafe going into the peak holiday shopping season, according to Motorola Solutions’ second annual U.S. Retail Worker Safety Report.

This comes as many of the 1,000+ retail managers and staff surveyed reported experiencing increases in crime in the last year, and more than half reported concerns about hostile customer interactions and store theft. https://ecs.page.link/gyD1P

A majority of American retail workers (57 percent) report feeling unsafe going into the peak holiday shopping season, according to Motorola Solutions’ second annual U.S. Retail Worker Safety Report. This comes as many of the 1,000+ retail managers and staff surveyed reported experiencing increases...

13/11/2024

As artificial intelligence technology continues to evolve, claims professionals must adapt to the changing landscape in the fight against fraud.

While AI has been a useful tool for detecting and preventing fraudulent claims, it has also opened the door to new methods of deception, particularly through AI-generated content like deepfakes. This has made traditional fraud detection methods inadequate, forcing insurers to adopt new technologies even faster to stay ahead.

This episode of Between the Lines will explore how claims professionals can navigate this new frontier while remaining vigilant to traditional red flags of claims fraud. https://ecs.page.link/eq5qX

As artificial intelligence technology continues to evolve, claims professionals must adapt to the changing landscape in the fight against fraud. While AI has been a useful tool for detecting and preventing fraudulent claims, it has also opened the door to new methods of deception, particularly throu...

13/11/2024

A new survey of 500 job seekers’ search habits finds that nearly 62 percent of Gen Z respondents found the limited number of employment opportunities as the most stressful aspect of the job search process, while 67 percent of Millennials and 61 percent of Gen X view the lack of communication from employers to be the most anxiety-inducing. https://ecs.page.link/rCCLT

A new survey of 500 job seekers’ search habits finds that nearly 62 percent of Gen Z respondents found the limited number of employment opportunities as the most stressful aspect of the job search process, while 67 percent of Millennials and 61 percent of Gen X view the lack of communication from ...

02/11/2024

Tech Bytes: New Partnerships at bolt, Ascend >> https://ecs.page.link/ih2os

InsurTech bolt announced a collaboration with Salesforce to launch bolt for Salesforce on Salesforce AppExchange, an enterprise marketplace for partner apps and experts. The collaboration aims to automate the process of insurance quoting, enabling brokers, agents, and account managers to deliver tai...

02/11/2024

A new study has found that the COVID-19 pandemic significantly impacted patient safety indicators in U.S. hospitals, according to the University of Pennsylvania School of Nursing. https://ecs.page.link/bxNwr

A new study has found that the COVID-19 pandemic significantly impacted patient safety indicators in U.S. hospitals, according to the University of Pennsylvania School of Nursing. The study, from Penn Nursing’s Center for Health Outcomes and Policy Research (CHOPR), examined data from the National...

29/10/2024

The P/C insurance industry is at an inflection point as the rise in climate-related risks and natural catastrophes has severely impacted American insurers.

Just last year, the country saw a record-breaking influx in extreme weather and climate disasters with a combined total of $92.9 billion in damages, according to The NOAA National Centers for Environmental Information’s final update to its 2023 Billion-dollar disaster report.

P/C policyholders are aware of the impact of extreme weather and are looking to their carriers to inform them of weather-related risks. However, this is proving to be challenging as frequency of storms is not only increasing, but severity as well. https://ecs.page.link/5ZmrN

The P/C insurance industry is at an inflection point as the rise in climate-related risks and natural catastrophes has severely impacted American

29/10/2024

“The amount of rain to be expected on the wettest day of the century has increased by almost 20 percent from 1980 to 2020,” said Texas A&M University Regents Professor of Atmospheric Sciences and Texas State Climatologist Dr. John Nielsen-Gammon, who also serves as director of the Southern Regional Climate Center. “We already know that climate change is causing heavier rainfall almost everywhere in the United States. We wanted to measure how much the risk of extreme rainfall has changed over time." https://ecs.page.link/Z7vJ3

The heavy rain that hit much of the southeastern U.S. during Hurricane Helene is part of a long-term trend, according to new research led by Texas A&M University Regents Professor of Atmospheric Sciences and Texas State Climatologist Dr. John Nielsen-Gammon. The study, published in the Journal of Ap...

28/10/2024

The catastrophic flooding and destruction caused by Hurricane Helene in western North Carolina likely caused at least a record $53 billion in damages and recovery needs, Gov. Roy Cooper’s administration said Wednesday. https://ecs.page.link/ppxGn

The catastrophic flooding and destruction caused by Hurricane Helene in western North Carolina likely caused at least a record $53 billion in damages and recovery needs, Gov. Roy Cooper’s administration said Wednesday. The state budget office generated the preliminary figure for direct or indirect...

16/10/2024

Progressive disclosed property and vehicle insurance loss estimates for Hurricanes Helene and Milton in conjunction with the carrier’s report of third-quarter earnings yesterday, indicating it won’t cede property losses from either storm to reinsurers.

Only losses from Hurricane Helene hit third-quarter earnings, which more than doubled to $2.3 billion, compared to $1.1 billion of net income for third-quarter 2023.

Even though Helene added $563 million of catastrophe losses, adding 3.0 loss ratio points to overall underwriting ratios for the quarter, Progressive recorded a combined ratio of 89.0 across all of its businesses, down from 92.4 for last year’s third-quarter. https://ecs.page.link/PMB2T

Progressive disclosed property and vehicle insurance loss estimates for Hurricanes Helene and Milton in conjunction with the carrier’s report of third-quarter earnings yesterday, indicating it won’t cede property losses from either storm to reinsurers. Only losses from Hurricane Helene hit third...

16/10/2024

When actual prices line up with technical prices, insurers expect underwriting profits to emerge. But what if underwriters find ways to adjust technical prices downwards? Based on interviews with underwriters conducted for their research, Tony Buckle and John Carolin, co-founders UWX, suggest that truer leading indicators of performance come from listening to the open and honest assessments of underwriters and keeping track of actions of managers. https://ecs.page.link/UfgsQ

15/10/2024

Check out the Risky Future Live Wrap-Up! Hosts Allen Laman and Elizabeth Blosfield will break down the most impactful moments from this year’s Risky Future virtual conference! This event is packed with insights from top risk management experts covering the biggest challenges in transportation, workplace safety, innovation risks, and more.

Watch the summit on demand here to catch up on all the insightful sessions: https://riskyfuture.com/

Discussion Topics Include:

� � Transportation & Logistics: Cyber threats, weather impacts, and supply chain disruptions.

� Workers & Workplaces: Managing risks from injuries, accidents, and compliance.

� Innovation Risks: Addressing data security, privacy, and legal challenges.

� Best Practices: Strategies to communicate risk and maximize insurance coverage.

� Firsthand Accounts: Real-world experiences managing crises.