Runaway Litigation: What Does The Future Hold For Insurers?

Social Inflation and the Risk of D&O-GL Clash

Social inflation is the primary explanation offered for the need to increase general liability and excess casualty premiums in the last two years. With social inflation, injured parties are more ...

Insurers Need Playbook to Slow Social Inflation; COVID Didn't Do It

If liability insurers and defendants want to turn the tide of social inflation, they need to come together as teammates with a solid game plan, a reinsurance claims executive said recently. Agreeing ...

What Reinsurance Execs Say About Social Inflation

While some observers reported a letup in social inflation during COVID-19 lockdown periods, reinsurance executives speaking at a recent conference said they fear U.S. jury verdicts and settlements ...

COVIDigation Nation: Why So Many Cases? Are More Coming?

Let's get a few things out of the way. First, I am not a data scientist or an actuary. I am an attorney interested in data. More specifically, I am interested in using data from disparate sources to ...

Executive Viewpoint

'Well Done Is Better Than Well Said': Retiring CEO Reflects

Next year I will be retiring from the National Association of Mutual Insurance Companies, an organization founded to advance the cause of member companies and their policyholders. It's been my work ...

Executive Profile

Stories+Words+Machines: A Nerd's Formula for Building an InsurTech

There probably aren't too many people who think about insurance claims scenarios when they go out to buy ice cream. Chris Cheatham, the CEO of InsurTech Risk Genius, is one of them, according to a ...

Leadership Challenges

How Insurers Can Build Trust Through Customer Advocacy

For the average insurance consumer, the arithmetic is hard to ignore: The less insurers pay in claims, the more money they make. Thus is planted the seed of a doubt that so many policyholders seem to ...

Technology and Analytics

AI Insurance: Who Is Insuring the Algorithms?

There are some algorithms in life that, even with the very best marketing, don't really matter too much. For example, if Netflix's recommendation algorithm points me toward the first episode of a ...

Autonomous Trucking Technology Is Here—Are Commercial Insurers Ready?

June 16, 2019, was a seemingly normal day on Florida's Turnpike in Orlando. Minivans were filled with families on their way to Disney; local Floridians were going about their daily routines. But ...

Why Ecosystem Distribution in P/C Insurance Is Critical Now

Even before COVID-19, the property/casualty insurance industry was making the move toward digital in distribution as well as other areas of the business, such as claims and pricing. Ecosystems in ...

Reinsurance 2020

Reinsurance Experience in Africa, Asia Sets MGA Tempo Apart

Tom Bailey, executive director of Tempo Underwriting, has a theory about what it takes to build a business based on the reinsurance MGA model. "For a reinsurance MGA to be successful and to have a ...

MGA New Paradigm Aims to Bridge the Natural Catastrophe Protection Gap

Evan Glassman saw a gap in the property insurance market—literally. Glassman, working as a retail producer in south Florida for most of his career, realized that the insurance industry's products ...

Envelop Risk Paves the Way as InsurTech Reinsurance MGA

Managing general agents for reinsurance are rare. Reinsurance MGAs that write cyber are even rarer, which is the world that Envelop Risk inhabits. "We think we're the only InsurTech firm involved in ...

What 'Follow the Fortunes' Means for COVID-19 Reinsurance Claims

How reinsurers will respond when cedents pay their insureds for COVID-related business interruptions remains an open question, legal and insurance professionals suggested recently, adding more ...

Finding Niches: Reinsurance MGAs Carving Out Special Market Slices

Reinsurance managing general agents are a rare breed as opposed to their more prevalent insurance-focused counterparts. The successful reinsurance MGAs have a niche, a focus. What they have in common ...

Lemonade Aftertaste: Will Reinsurers Keep Covering Unprofitable InsurTechs?

The IPO of Lemonade in July highlights the value of leveraging ample reinsurance to move from startup phase to a public company, which the online provider of renters insurance pulled off in a scant ...

The Challenges of Leading an InsurTech; What's Next for RiskGenius?

Chris Cheatham believes forming partnerships with QBE and Guy Carpenter were the two biggest milestones in the history of his company, RiskGenius, so far. But was there ever a time when he thought it ...

How to Compute Car Insurance Discounts for Automated Safety: Enter Swiss Re

A car owner should be able to pay lower insurance premiums for driving a car with safety features, such as automated braking that stops the car when the driver is distracted or lane keep assist ...

The Insurance Jobs 'Revolution'

Early in 2020, I wrote a series of articles about insurance carriers that got top ratings on an online job site. To do my research, I had to sign up to provide information about my job. Ever since, I ...

Researchers Worry That 'Whiteness' of AI Erases People of Color: Risk Alerts

Researchers from the University of Cambridge are worried that the "overwhelming whiteness" of artificial intelligence may remove people of color from humanity's vision of the future. Teens and young ...

Leadership Tips: Finding the New Normal

Nearly six months into the global pandemic, many individuals and companies are still struggling to find their new normal. While some jobs might require employees to be on-site—whether in the office ...