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Taking the Digital Route to Lower Commercial Auto Losses
It's an unfortunate truth that commercial automobile insurance hasn't been a profitable line of business for years. According to industry reports, even though commercial auto rates increased for 31 ...
Lessons From Two Customer Experience Legends
Earlier this year, in the span of just a couple weeks, the business world lost two great customer experience strategists. Jack Bogle was the founder of Vanguard Investments, which is now the ...
Building a Specialty Carrier: Does Culture Beat Strategy, or Is Culture Strategy?
After getting the go-ahead to build a new insurance company, BHSI's founding executive team—Peter Eastwood, president and CEO; David Bresnahan, executive vice president; David Fields, executive ...
Industry Veterans Relish Fresh Start for Their Latest Legacy-Free Ventures
Although the insurance market is awash with capacity and competition, two new specialty companies—a re/insurer and a broker—formed earlier this year, aiming to create something new and different ...
The Future of Insurance Has Brokers at Its Heart
When many of my peers and I entered the industry, several days or weeks could pass between the initial inquiry by a potential policyholder and the time a transaction took place. Applications were ...
Can InsurTechs Follow Uber’s Path? There May Be Pitfalls
Uber Technologies Inc. announced its first quarterly results as a public company with an operating loss of over $5 billion in the quarter. The company is emblematic of the growth-at-all-costs model ...
Unknowns and Long Tails: What’s the Next ‘Ex’?
Executives of property/casualty insurance carriers have been offering reassuring statements about the trajectory of the market lately. Premium rates are keeping pace with loss costs, they say. But ...
Can InsurTechs Really Disrupt Insurers and Reinsurers?
The mantra of InsurTechs is changing. Initially, InsurTechs were going to disrupt the insurance industry through the use of technology; however, technology alone cannot replace the vital role played ...