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In August 2018, AM Best surveyed its universe of rated entities to gauge where the insurance industry stands as a whole with regard to innovation. Although we received a wide range of responses to ...
Having achieved unicorn status with a $1 billion valuation less than two years after its official October 2016 debut, InsurTech carrier Root Insurance Company may seem like an overnight success. The ...
"Be optimistic and be indefatigable." Charles Chamness, president and CEO of the National Association of Mutual Insurance Companies, carefully pronounces each syllable of the last word as he recalls ...
Property/casualty insurance carrier executives are challenged to predict the likely state of the market as they shape go-forward strategies for their companies. While 2020 may be a bit off course, ...
When American International Group's chief financial officer spoke about "managing change in an evolving insurance industry" at a rating agency conference in November, Mark Lyons focused much of his ...
Cover Genius has a broad vision: To protect all the customers of the world's largest online companies. According to the InsurTech's website, it currently sells "millions of policies per year in ...
There's two ways for an insurance company to boost profits. The first option is to price products higher, and the second is to reduce operating expenses. Option No. 1 can be a dicey proposition, as ...
Technology is a great amplifier. It amplifies the power of humans and allows us to scale our ambitions. At Clearcover, we take this belief to heart—and it is motivating us to build a smarter car ...
If Bill Pieroni were a Major League Baseball executive, he would be one of those sabermetric types like Oakland's Billy Beane, heralded by the book "Moneyball." His team's manager would have ...
What separates an excellent CEO from the rest of the pack? In a new study on "The mindsets and practices of excellent CEOs," McKinsey & Company looked at the six main elements of the CEO's ...
In statistics, every dataset comes with a margin of error — a measure of the data's reliability. There's always a level of uncertainty in data, and decision-makers use the margin of error to gauge ...
Until recently, there was a relative lull in new mass tort events in the United States. This led to a sense among insurers that mass litigation was no longer the looming threat that it was in the ...
It is difficult to open an insurance industry newsletter these days without seeing some reference to machine learning or its cousin artificial intelligence and how they will revolutionize the ...
Artificial intelligence is having a positive impact on the industry. There are substantial use cases in almost every part of the insurance business, from policy administration and claims to customer ...
The growth of the Internet of Things (IoT) is a relevant trend for our hyper-connected society. A few years ago it was estimated that on a normal day, 127 new devices were connecting to the Internet ...
By this time, most leaders in the insurance industry have heard of using predictive analytics to study previous patterns that can help businesses understand what could happen in the future. However, ...
Industry transformations occur when the pain of staying the same is suddenly greater than the pain of changing, according to Karen White, CEO of RMS. "The second thing that has got to be present for ...
Lloyd's of London is expecting big things for 2020 as it rolls out the key initiatives for its massive modernization project designed make it easier to do business with Lloyd's and, ultimately, ...
Alex Timm's path to the C-Suite of an InsurTech carrier probably isn't typical. Unlike other InsurTechs headed by technology experts or marketing officers from outside the insurance industry, Timm is ...
Social inflation has become the industry's most talked about subject in recent quarters. The frequency and severity of tort claims has increased, and insurers have had to add to prior-year reserves ...
The January/February 2020 edition marks the third time we have pictured an InsurTech founder on the cover of Carrier Management. Louis Ziskin, the founder of DropIn Inc., was the first in December ...
To Alex Timm, CEO of Root Insurance Company, the auto insurance carrier's recent move into the renters insurance market seemed like a natural extension for its customer base given that 70 percent of ...
Among the predictions delivered toward the end of 2019, one long-term forecast stood apart from the rest. "I think insurance will actually start to just disappear into the ether," an industry ...
