A decade ago, most of us couldn’t have imagined that our phones could detect a car crash, that sensors worn by industrial workers could flag movements that might result in injuries or that an Internet-connected device could alert police to an in-progress armed attack at a specific location.
Those connections (and more) are described in the “Getting Connected” feature of this edition, compiled by Guest Editor Matteo Carbone.
Carbone is passionate about the idea that insurers, harnessing the capabilities of the Internet of Things, will create a safer world. Serving as director of the IoT Insurance Observatory, he works with global insurers and reinsurers to highlight the possibilities of using IoT for real-time risk mitigation and to incentivize changes in risky behaviors.
When I was editing the last of a special set of articles in a section of Carrier Management's third-quarter 2021 magazine, I struggled a bit with an opening sentence in one of the draft versions. ...
Traditional insurance products focus on risk transfer. Insurers compete based on their ability to use historical loss information, data gathered during the submission process and other data from ...
Insurance IoT is a new way of thinking about the activity of assessing, managing and transferring risks that fits with a world that is going to be more and more hyperconnected. Personal auto is the ...
FROM THE ARCHIVES: A VINTAGE CARRIER MANAGEMENT ARTICLE FROM 2021 Allstate is a leader in adopting telematics, according to IoT Insurance Observatory data indicating that the company has over 2 ...
The global economy is built on the backs of hardworking "industrial athletes," and providing those athletes with the equipment to keep them safe is the mission of one New York-based technology firm ...
The hyperconnection between people, machines and organizations is a pervasive megatrend that characterizes our society in any aspects, at any level, in any part of the world. The Internet of Things ...
Mass litigation is every casualty insurer's worst nightmare, conjuring up memories of the unending flow of asbestos litigation and the devastating effect it had on the industry. Today, though, we're ...
Lee Fogle reached down to save his 12-lb. Yorkshire terrier, Nemo, as a pit bull lunged forward. The attacking dog's jaws clamped onto his left hand, sending him to a clinic for sutures and starting ...
Defending lawsuits and managing trials is a major focus area and expense category for insurers—whether they are defending insureds against liability claims or defending themselves in coverage and ...
Post-pandemic, businesses across the country have recommitted to the mission of addressing diversity, equity and inclusion. Much emphasis has been placed on diversity and inclusion (D&I) during ...
Social inflation has become the buzzword in insurance in recent years, and the exact definition, causes, impact and outlook for the future remain fuzzy to many companies. Social inflation broadly ...
A group of actuaries recently polled about whether people working for InsurTech startups were more talented than those working at incumbent carriers assessed them as just about the same. The true ...
Leading from the front or leading from the middle — where is the real power? Like day needs night, Romeo needs Juliet and bacon needs eggs, so do leaders need followers. However, these great ...
Even if they are never laid out in a formal document, every company is going to have strategic goals. After all, no executive is going to say that they don't want their company to grow or otherwise ...
Many property/casualty insurance companies are finding it very challenging to acquire great talent. There are several key factors that contribute to the headwinds in the talent acquisition market: ...
When we bury ourselves in daily work schedules, self-care and self-management activities are often neglected. To help put those back on your agenda, Carrier Management has compiled tips to take ...
Even the most vigilant insurers and reinsurers scanning the risk landscape for potential future liability problems are likely to fall into landmines. What insurance risks of the immediate or distant ...
For nearly 150 years, managing general agencies have been an important sales and distribution arm of the U.S. insurance industry, initially offering a way for an early insurance company to enter ...
In contrast to their direct-to-consumer counterparts, startups developing software for insurance companies have commanded lower valuations and fewer headlines. While some are doing great work in ...
Back in 2011, the publishing company I used to work for hired a new editor. He was the recipient of multiple awards for outstanding journalism, but insurance was a totally new gig for him. As a ...
Church Mutual is the largest insurer of religious institutions in the country, with a history dating back more than 120 years. The company insures houses of worship, human services organizations, ...
