How to Be Strategy-Focused: The Balanced Scorecard Explained

While a transformation is a daunting task for any carrier, American Modern used a tool known as Kaplan and Norton's Balanced Scorecard and Strategy to map out the way ...

What's Next at American Modern: Conquering Yellowstone

"We don't call it 'digital transformation' because we haunted the organization with 'business transformation.' We needed to find a better word," American Modern CEO ...

COO Tip: Ditch the Weekly Status Meeting; Let's Get It Done

These days, operations executives in the insurance industry can easily get consumed with all things tech—and with the quest to introduce operating efficiencies by ...

CEO Insights: Lessons Learned From a Business Transformation

Collapsing seven legacy technology systems into a single, integrated one while also winnowing 3,000 specialty insurance products down to 600 isn't easy. Particularly when ...

The Pros and Cons of Going Private

In the days before hedge fund manager Daniel Loeb decided to drop its buyout of SiriusPoint, Carrier Management asked analysts at AM Best and Fitch Ratings about the pros ...

How 1,000 Owners Keep RLI's Underwriting Profit Record Going

The underwriting expense ratio at RLI Corp. settles in at about 40 percent year in and year out, yet RLI's overall combined ratio is regularly among the best in the ...

Repricing Is Not Reunderwriting

A rising tide carries all boats. That rings true currently in commercial insurance. Carriers have broadly brushed aside concerns about geopolitics, inflation and natural ...

Serious Change Underway at SiriusPoint

SiriusPoint has seen a cluster of challenges over the past two years—ranging from an incomplete merger integration to persistent underwriting and investment losses to ...

Executive Viewpoint: Is Insurance the Hero AI Needs?

I founded Monitaur in 2019 to enable confidence and trust in AI through governance and assurance. With my partners, the company was founded with the belief that by enabling governance, we could ...

Executive Viewpoint: When It Comes to Protection, It's Time to Go on Offense

During my time playing wide receiver at the University of Northern Colorado, I learned firsthand there are a lot of advantages to being on offense. Being on offense is ...

Executive Viewpoint: Taking the Next Step on Cyber War Exclusions

Cyber insurance has been a success story since the late 1990s, offering companies protection for one of their leading emerging risks. In my opinion, the most important ...

7 Tips for Developing Future Leaders

"What's in it for me?"

Employees are more likely to feel invested in learning and development programs if they know how the training actually applies to their daily ...

Fractional Executives: An Option for Retirees

There's a huge wave of baby boomers retiring from insurance companies over the next few years. "These companies are losing senior executives en masse," says Ira Ziff, ...

The Role of the Fractional Executive in the Insurance Industry

In a relatively short time, the gig economy has revolutionized the way we live and work. Ridesharing apps like Uber and Lyft changed the way we get around. Delivery ...

Eight Straight Years of Workers Comp Profits: What Could Go Wrong

Workers compensation insurance stands out as the most profitable major U.S. commercial insurance product line over the last five years, bolstered by relative claims ...

U.S. Personal Auto Results Headed the Wrong Way. Is a U-Turn Possible?

Although the pandemic may appear more distant in the rearview mirror, its lasting impact on the personal auto insurance industry may be larger than initially ...

Social Inflation Hits Insurers, Not Economies

You know things are bad when the term "nuclear" is deemed inadequate to describe the rise in legal verdicts against corporations.

Is AI Risk Insurance the Next Cyber for Insurers?

The rising enthusiasm around generative AI and the prospective increase in AI adoption are opening up intriguing opportunities for insurers to underwrite AI risks. However, before they delve into the ...

Navigating the AI Frontier: A How-To Guide for P/C Insurers

"In the midst of chaos, there is also opportunity." — Sun Tzu

We are living in an epoch of profound transformation and paradox, ...

P/C Use Cases for ChatGPT and Other LLMs

ChatGPT and other large language models (LLMs) represent augmented intelligence tools through which users can combine artificial intelligence (AI) with human intelligence ...

Eyes Wide Open: A ChatGPT Users' Guide for Insurance Professionals

OpenAI's ChatGPT will give you some pushback if you ask it how to commit a crime—like breaking into someone's house. But a little creative coaxing can elicit a "misaligned response" from the ...

ChatGPT and Beyond: How Insurers Are Using AI

If you ask Rachel Alt-Simmons, head of global claims innovation and optimization at AXA XL, what she is most enthusiastic about when she contemplates the world of AI, she'll happily describe the ...

Endocrine Disruption Litigation Has Arrived

How long does it take for science to identify a new type of harm from commercial activity before litigation tries to hold the businesses accountable?

Electric Vehicles and the New Frontier They Represent for Auto Insurers

Electric vehicles (EVs) and internal combustion engines could not be more different in some respects, but there's one thing they have in common: They both represent a ...

Chubb's Greenberg: Start Questioning the Societal Benefits of Litigation Funding

Chubb CEO Evan Greenberg said society and the business community need to start asking questions regarding the purpose of third-party litigation funding, a major ...

Alignment = Profit (or Problem)

As we brainstormed content for Carrier Management's second-quarter 2023 edition, with features about profit-making engines of P/C insurers and features about the uses of ...