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The Power of the First Offer: Anchoring, Evidence and the Battle for Perception
If negotiation is the job, as Ronald Morrison wrote in the first article of this series, then the first offer is often the moment that defines success. Behavioral economists Daniel Kahneman and Amos ...
Rebuilding Commercial Lines Underwriting: Smarter, Simpler and More Strategic
Commercial lines underwriting is at a critical turning point. Traditional models built on manual reviews and static decision-making are struggling in today's fast-paced, data-driven insurance ...
Truckers Seek Detours Around Rising Costs and Litigation
The COVID-era boom in trucking is definitely over. The trucking sector is experiencing one of its most challenging times, with trucking operators' profitability dropping across all sectors, total ...
Should Company Size Determine a Carrier’s ERM Practices?
Gather a group of 20, 30 or even 50 P/C insurance executives in a room and ask, "Who here wants their company to miss achieving its strategic goals?" or "Who wants to always have to put out fires ...
Anchored in Maritime Roots, the Cayman Islands Set Sail for Reinsurance Opportunities
The Cayman Islands have a story familiar to many in insurance—entering the industry unexpectedly from somewhere else. In fact, the islands went from sustaining the economy as an exporter of thatch ...
AI Investments Are Top Priority; Hourglass Workforce Structure Takes Shape: Insurance CEO Survey
"We are very bullish on AI, and we're leaning into it." That's how Alan Schnitzer, chief executive officer of Travelers, responded to a recent question from an investment analyst who wanted specifics ...
Don’t Forget the Front Line: Why Insurers Need to Research the Agent Experience
In the rush to improve customer experience, many insurers have overlooked a critical group of stakeholders: the independent brokers and agents who sell their products every day. With this group now ...
Viewpoint: Strong In-House Claims Functions Help Build Trust in MGA Sector
The managing general agent (MGA) market is in the spotlight as one of the most agile and innovative arrows of growth for the insurance sector. But as with any arrow, direction and precision matter. ...