A Special Time for Specialty Markets
The specialty insurance marketplace always has been a vast laboratory for nascent products. It once was a tiny market. Those days are over. Today, with tens of billions in premiums in the U.S. ...
Eyes in the Sky: Geospatial Information Systems
When Mike Fitzgerald, the principal insurance analyst for CB Insights, talks about geospatial technology and its applications in property/casualty insurance, he finds it challenging to restrain his enthusiasm about the subject.
“I really do view this as the next big thing—on the order of the Internet, on the order of mobile phones,” said Fitzgerald who is the guest editor for the content of this edition that is devoted to the current and potential uses of geospatial information systems in insurance.
Fitzgerald connected with representatives of all corners of the P/C insurance industry to describe ways in which insurers can access data from cameras and sensors positioned aboard satellites, drones and manned airplanes, store the information in the cloud, and use artificial intelligence to apply what sensors capture to the business problems of insurance.
Other highlights of this edition include an investigation of why founders leave InsurTechs, and profiles of InsurTechs Vouch and Shepherd, who are innovating commercial underwriting for their target markets.
In This Issue
Executive Viewpoint
Underwriting
Building Insurance for the Companies Building the Future
Back in 2015, after working more than 15 years on the underwriting side of the property/casualty insurance business, Chad Nitschke started to become frustrated with the lack of change in the ...
Artful Mosaic Creates Global Agility for Specialty Startup
Mosaic Insurance, the Bermuda-headquartered startup and Lloyd's specialty insurer, operates with a unique structural twist. Its hybrid model has the flexibility of a managing general agent (MGA), the ...
Rebuilding Construction Insurance
At the end of an hour-long interview, the chief executive officer of an InsurTech focused on liability coverage for middle-market commercial construction contractors gave an unusual answer to a ...
Claims/Legal
Push for Litigation Funding Disclosure Grows
The privacy once enjoyed by investors who finance other people's lawsuits was rarely questioned before Hulk Hogan brought a media spotlight onto the niche industry after winning a $140 million jury ...
Leadership and Management
Why Founders Leave InsurTechs
Ron Glozman has always been a problem-solver, a good skill to have as a tech visionary creating companies that automate manual processes in the insurance industry. Once the business is launched, he's ...
Carpe Futurum: How to Reorient Your Company's View of Risk
Never before, or at least never in the modern era, has the world witnessed such an extraordinary level of risk and uncertainty. Although a cursory look at the news confirms this, in-depth surveys ...
Leadership Tips
5 Tips to Help You Retain Talent During 'The Great Resignation'
The talent war is about to get fiercer thanks to "The Great Resignation." Millions of U.S. workers have quit their jobs, and research shows that nearly half of employees are actively looking to make ...
Risk Alerts
Social Inflation or Science: What Is Fueling Climate Litigation?
A rising amount of litigation tied to the environmental and health impacts of greenhouse gas emissions prompted a question from the leader of a liability risk analytics company recently: "Is it about ...
8 Emerging Risks to Watch: Climate Change, Tainted Products, Deepfakes
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 ...
What Do You Do With Emerging Interest Risks?
Every emerging risk strategy must begin with a horizon scan. At Praedicat, our strategy is to scan the scientific literature for indications that scientists are investigating a new hypothesis that ...
Technology and Analytics
Is InsurTech Hype or Not?
Although more than 6,000 people attended this year's InsureTech Connect conference in Las Vegas, three words uttered by one well-known attendee got the most attention from readers of Carrier ...
From the Editor
When Will the 'Climate' Change?
During the recent InsureTech Connect conference, Pranav Pasricha, global head of P&C Solutions for Swiss Re, made this observation while talking about property insurance innovations: ...
Cover Story
Meet the Guest Editor
Mike Fitzgerald, principal analyst, Insurance for CB Insights, served as a guest editor for this edition of Carrier Management. In addition to conceiving the idea for the featured topic, geospatial ...
Beyond Claims: How Carriers Use Geospatial Analytics to Underwrite Property
If there is a bright side to the tumultuous ride that was 2020, it's the surprisingly agile turn property insurers took to move away from traditional reactive approaches toward more proactive ...
Eyes in the Sky and Beyond: Why Geospatial Information Matters to Insurers
When Mike Fitzgerald, an insurance technology expert, talks about geospatial technology and its applications in property/casualty insurance, he finds it challenging to restrain his enthusiasm about ...
A Top-Down View of Insurance Risk: Understanding the Geospatial Insurance Consortium
One of the best-kept secrets about the property/casualty insurance industry is a member-centric organization that manages the largest aerial imagery program in the world. That's right. The world's ...
High and Rising: Cloud to Street's Research on Flood Exposure
The title on the cover of the August 2021 edition of Nature magazine—"High and Rising: Satellite images reveal an increasing number of people and places exposed to floods"—gives a sense of what ...
Found in Space: How Skytek Tracks Supply Chain Risks—and More
Oil spills, port explosions, blockages in the Suez Canal and supply chain risks. These are just some of the events that global space company Skytek has analyzed over the past year for its insurance ...
Seeing Through Clouds: Why Now Is the Time for Geospatial Technology in Insurance
The prospect of property/casualty insurers and reinsurers adding information from geospatial imagery to their toolkits for underwriting, product development and claims handling isn't an entirely new ...