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As an insurance carrier executive, how often have you asked for an internal data report only to be told it will take weeks or months and thousands of dollars to develop and cannot be easily modified ...
Harnessing data effectively is the specialty insurance sector's next great evolutionary step. Success in underwriting will soon demand that carriers strategically tap into the enormous pools of data ...
According to a draft document published by the NAIC Big Data (EX) Working Group in November last year, regulators were concerned about these questions related to carriers' use of data analytics: Do ...
The sin of omission—saying or doing nothing when you see something you know is wrong—"is just as grave as the sin of committing an unethical act." Jack Salzwedel, the CEO of American Family ...
Early in my career, my mentor, Darnell Moore, conveyed an important concept to me: "Find your voice, Jack! Be heard!" Darnell's wisdom has guided me through the years. Finding my voice has been ...
When to retire is one of the toughest decisions for any executive to make. For a CEO at the top of the pyramid, the decision is rife with complexities. Not only must the CEO relinquish day-to-day ...
Insurers have long wrestled with the question of whether it is better for them to buy or build their information technology; that is, whether it is better for them to develop their own proprietary ...
In today's underwriting environment, carriers are constantly asked to do more with less, and do it faster. Underwriters need to underwrite effectively and price the right risks appropriately while ...
The property/casualty business provides countless examples of initiatives to leverage data and analytics to improve agency relations, new business acquisition, underwriting and rating, and claim ...
For all the time and energy that companies invest in improving their customer experience, many are unknowingly sabotaging those efforts. How? Simply by using two words that should be stricken from ...
Timothy NeCastro recalled the conversation he had with his wife in 2015, mulling their eventual retirement. It was a sobering one. "Lisa said to me, in as kind a way as she could, that given my ...
Big data and analytics have become insurance industry buzzwords in recent years, but for Helen Crooks, chief data officer at Lloyd's of London, data has been a longtime passion and has defined her ...
In dystopian fantasies, artificial intelligence and robots take over the world, acting on their own and becoming completely uncontrollable for their human creators. We're not there yet, and may never ...
Armed with cognitive computing technologies, the property/casualty insurance industry is making it more difficult to perpetrate claims fraud successfully. Employers, insurers and the economy at large ...
Why do some leaders have greater success than others? In this fast-paced world, we are continually challenged to fit more work into the same time frames that we all have. One of the most challenging ...
Claims form the core of the relationship between insurance companies and their customers. Every claim is an opportunity for insurers to demonstrate their value, strengthen customer loyalty and boost ...
Increasing customer satisfaction and improving efficiency of operations are important for anyone seeking to serve a niche market of discerning K-12 public school educators. Thus, Horace Mann ...
Property/casualty insurers have widely adopted the principles of relational database management into their policy administration systems, but the potential benefits of that approach for data analysis ...
For Steven Linkous, 2017 was a very busy year. A 50-year-old married father of two grown sons, Linkous faced plenty of demands in his role as the longtime president and CEO of Harford Mutual. On top ...
For a CEO in the property/casualty insurance industry—or any sector for that matter—stress is a given. CEOs constantly fields meetings, trips, disagreements, negotiations and more. They have the ...
Networking is a necessary evil in the business world. If you're not a natural extrovert, mingling with strangers can prove awkward and nerve-wracking. This is true for many, but even more so for ...
