Reducing Claims Overpayment Is Vital for Carrier Survival
Failure to catch overinflated claims is costing the insurance industry tens of billions of dollars each year. Paying too much or too little on a claim isn't beneficial to ...
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Love Thy Frenemies: 3 Reasons an Interconnected Claims Network Benefits the Industry
Coming off the worst underwriting performance in over a decade, the U.S. P/C insurance industry continues to face significant headwinds that threaten profitability and ...
Will S&P Change ‘Negative’ Reinsurance Outlook to ‘Stable’ in ’23?
While no one directly asked the question of this article's headline at the S&P Global Ratings June annual insurance conference, the prospect that an outlook change is near came into view during ...
Is Insurance Recruiting Being Impacted by Artificial Intelligence?
The movie "Terminator 2" is the first thing that comes to mind when I hear about artificial intelligence. A universe where machines take over our daily lives seems so ...
Navigating the Challenges of Wildfire Risk Modeling
As wildfires raged across Northeastern Canada in June, spreading toxic smoke across a large swath of Eastern and Central U.S., risk and insurance executives were reminded ...
Technology Is Moving Fast; Can Insurers Keep Up?
As evidenced by the recent popularity of generative AI tools, the tech landscape in insurance seems to be moving at an increasingly fast pace.
Why Did It Take a Pandemic to Drive Electronic Placement in the London Market?
Electronic placing in the London market was a long time coming, with many obstacles to overcome. It took the pandemic to prove electronic placement is a benefit and not a ...
2nd Act: From Rear Admiral, U.S. Navy to Director of Insurance Operations
What does a rear admiral do after 31 years in the Navy?
Instead of retiring, Rear Admiral John Spencer decided to pursue a second career ...
2nd Act: From Commercial Airline Pilot to AXA XL’s Head of Aerospace Claims
Like most of us in the insurance business, Tom Vargo, AXA XL's claims manager-Aerospace, did not grow up wanting to be an insurance executive. He was fascinated with ...
How to Characterize Emerging Risks for Liability Modeling
This is the second part of a two-part article. In the first part, we defined a framework that can be used to classify both systemic and emerging risks.