The theme of this edition, “Travels In Time: The Future of Commercial Underwriting,” introduces content about the use of AI and automation in commercial insurance underwriting.
In addition to intriguing AI-generated art, the pages of this edition describe commercial underwriting transformations at QBE North America, Nationwide and Coterie Insurance, introductions to some of their technology partners at Federato, NeuralMetrics and Planck, and a look into Munich Re’s innovative coverage offerings providing performance guarantees for AI providers. Risk-related updates on the insurability of cyber risk, the implications of social media addiction lawsuits and weather whiplash events are also included.
Carriers and MGUs have embarked on missions to transform experiences of overwhelmed commercial insurance underwriters and their frustrated distribution partners with decision-making power boosts from ...
Carriers and MGUs like QBE NA, Nationwide and Coterie Insurance aren't going it alone as they carry out their missions to transform commercial insurance underwriting. Coterie Insurance and Nationwide ...
At Coterie Insurance, an MGU on a mission to bring speed and simplicity to small business insurance, a 100 percent digital underwriting process is in place. Coterie Insurance's underwriters are ...
Back when Munich Re launched the industry's first insurance coverage for artificial intelligence (AI) at the end of 2018, the policy, aiSure, found few takers. In subsequent years, as more companies ...
Leaders of property/casualty insurance companies writing commercial insurance are expecting the world of property/casualty underwriting to look radically different by the year 2032—with artificial ...
With rising inflation and the prospects of a recession on the horizon, the present macroeconomic environment is forcing property/casualty underwriters to adapt to new technologies and sources of ...
Colonial Pipeline, JBS, Kaseya and other major attacks of last year have demonstrated that if ransomware wasn't already a common part of the global vocabulary, it certainly is now. However, the first ...
When a cognitive bias expert gave the keynote address at a Casualty Actuarial Society meeting in May, he called actuaries the unsung heroes and heroines of their property/casualty insurance ...
Josephine Wolff, associate professor of cybersecurity policy for The Fletcher School at Tufts University, who spoke to Carrier Management about growing gaps in understanding of cyber insurance ...
As corporations increasingly navigate the environmental, social and governmental (ESG) landscape, they require tools and benchmarking to help them meet their ESG targets. After all, regulators are ...
Back in the day doesn't mean what it used to. In most cases, that phrase refers to a time many years ago. But with the world changing as quickly as it is, back in the day can refer to just a few ...
Applying machine learning to pricing and actuarial workflows is becoming easier due to advances in technology and increasingly accessible platforms. These complex algorithms will not replace business ...
When Julian Teicke was a teenager, the lavish events his insurance broker father attended with other successful agents struck him as out of proportion to their essential work helping people. "All ...
The insurance industry still has a lot of work to do when it comes to diversity, equity and inclusion. In fact, despite a strong DEI push across the industry, there was little change in racial, ...
At least half of the U.S. workforce is "quiet quitting," according to Gallup. These workers are still fulfilling their basic job duties, but they're no longer willing to put in extra (unpaid) hours, ...
I think everyone will agree that planning what direction a company will take for the next few years takes a bit of effort. After all the workshops, one-on-one meetings, risk and data analysis, and ...
Panelists at the Insuretech Connect conference at Mandalay Bay in Las Vegas this month claimed embedded insurance is the hottest topic in the insurance industry right now. While opinions may vary, it ...
The first insurance company in the U.S., The Friendly Society, was established in Charleston, S.C., in 1735, according to the Insurance Information Institute's insurance handbook, meaning the ...
There's a new kid on the InsurTech block, and it's seeking to make the insurance experience faster and more personalized with embedded insurance. Embedded insurance is an emerging area of the ...
Scientists have been sounding the climate-change alarm for decades. But despite these dire warnings, a large swath of the public still refuses to believe, and both policymakers and businesses have ...
If you think the weather these days feels like a seesaw, you're not alone. Consider the following: In Colorado last year, a prolonged spell of unusually warm, dry conditions and one of the deadliest ...
The lead-up to mass litigation in the United States has a predictable sequence: Commercial enterprises unleash a new technology that delights consumers and garners handsome profits for ...
In an age where anyone with a computer can be a graphic designer, it's no surprise that magazines are starting to experiment with using artificial intelligence to create their visuals. And while some ...
