P/C Insurance Profit Making

Carrier Management Magazine • Quarter 2 2023 Edition

Profit-making engines of P/C insurers are featured in this edition, along with articles about a current hot topic in tech—generative AI.

“Alignment” is a key concept that ties the two seemingly disparate themes together.

Aligning values of people and machines in some chosen way to achieve desired outcomes is a key to success in both areas.

Read the stories of RLI’s 27 straight years of underwriting profit, American Modern’s multiyear business transformation and SiriusPoint’s in-progress turnaround, told to Carrier Management by the executives that manage the alignment activities. And then read about the perils of misaligning emerging generative AI tools, like ChatGPT.

In This Issue

Cover Story: P/C Insurance Profit Making

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 ...

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 ...

Finance and Operations

Executive Viewpoint

Leadership and Management

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 ...

Technology and Automation

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 ...

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 ...

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 ...

Risks and Opportunities

Conference Report

From the Editor

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 ...