Personal Lines
Birth of a Unicorn: How Branch’s Founders Turned Noes Into Yeses
Like most startups, the founders of unicorn Branch faced some early setbacks. In a word, the process was "intense," according to Steve Lekas, co-founder and CEO of the InsurTech, which bundles home ...
Cambridge Mobile Telematics Acquires European Telematics Company Amodo
Cambridge Mobile Telematics, a telematics service provider, announced that it has acquired Amodo, a telematics company based in Europe. The acquisition brings together two telematics companies with ...
Top CM 2023 News Story: State Farm P/C Businesses Report $13B Underwriting Loss in 2022
Late last year, State Farm's chief executive broke the news that the auto giant would record the largest underwriting loss in its 100-year history for 2022. On Monday, the news became official with a ...
Berkshire Hathaway Reports First Underwriting Loss Since 2017, Drop in GEICO Staffing
Berkshire Hathaway recorded its first full-year underwriting loss since 2017—but a small one—as strong profits from reinsurance operations were almost enough to counterbalance the deteriorating ...
Liberty Mutual Tackling U.S. Personal Lines Challenges
The story of U.S. personal lines challenges impacting the results of multiline insurers was repeated for Liberty Mutual, which reported underwriting losses and waning policy growth in the segment in ...
Root Books Another Loss; Stays Positive on Embedded Insurance
Calling embedded insurance the "next secular trend in distribution," Root Inc. CEO Alex Timm in a letter to shareholders said the company has an advantage to scale access in the channel and become ...
With Rate Increases Still Pending, Lemonade Is Slowing Growth in ’23
Executives of InsurTech Lemonade say they're slowing down growth in 2023, as the company waits for regulators to approve rate hikes needed to keep up with inflation. "So long as these mismatched ...
Why Not Go Direct on Homeowners, Allstate CEO Asks
When Allstate's chief executive officer looks at potential growth opportunities for personal lines insurers, he sees an untapped part of the homeowners insurance market—customers that will buy home ...