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You Are Going to Die
Although I am not a particularly religious person, I attended church services on Palm Sunday last month. After checking that my presence did not cause the church walls to tumble down, I returned ...
Hiring Older Workers in a Tight Labor Market Can Be a Smart Investment
Carriers and others are hiring in the U.S. with an unemployment rate at 50-year lows. With this statistic in mind, the argument toward recruiting older workers grows even stronger, according to ...
Top 5 Imperatives for Insurers in 2019
Strict regulations, fierce competition, new technologies and ever-increasing customer expectations are transforming the very nature of the insurance business. An industry that focuses on managing ...
Building Communication Skills: Lessons From Great Leaders
What do Warren Buffett, Barack Obama, Bill Gates and Elon Musk have in common? Aside from being successful and world-renowned, they share a passion for lifelong learning and a skill in effective ...
Nationwide’s Walker to Become New CEO in October
Nationwide disclosed it has chosen Kirt Walker, a 33-year company veteran, to become its next chief executive officer. "I'm humbled and proud to lead this great company and iconic brand," said ...
‘I Worry Much More About Progressive’ Than Tesla, Buffett Says
Berkshire Hathaway Chair Warren Buffett said he isn't worried about recent assertions by Tesla Chief Executive Elon Musk that the electric car maker could offer a more compelling insurance product ...
These InsurTechs Are Drawing Investors’ Attention
Below, we've gathered highlights of 10 noteworthy InsurTech financings from January 2019 through mid-May. They offer a curious read in combination with each other. For one thing, the list gives a ...
Two Execs at Lloyd’s Insurer TMK Booted After Sexual Harassment Allegations
Two executives at a top Lloyd's of London insurance company have resigned following allegations of sexual harassment. One was accused of groping colleagues at a booze-fueled party, the other of ...
AI in Claims Operations: Lessons Culled From the Early Innings
While there are many different segments of the commercial insurance industry, they often share a similar story. From my vantage point, the workers compensation system was designed to help both ...
Carrier Alert: InsurTechs Pose Third-Party Vendor Security Risks
The InsurTech movement has and continues to drastically change the landscape of insurance. Established carriers are partnering with emerging tech innovators on everything from robotic process ...
Executives On The Move at AIG, QBE North America and Aspen Re
An Accenture veteran is joining AIG to fill a leadership role within its General Insurance Division. QBE North America appointed a new president, Alternative Markets. Aspen Re named a Tokio ...
Tips for Partnering—or Competing—With InsurTech Startups
Interest and investment in InsurTech startups continue to increase. The sector has seen record levels of funding, and many of these companies are beginning to scale and expand. It remains to be seen ...
3 Things Insurance Carriers Need to Know Before Entering Colorado
Colorado isn't like other states. At 2.7 percent, its unemployment rate is lower than the national average. It's the seventh-fastest-growing state in the U.S., adding some 80,000 residents in 2018. ...
Nationwide, State Auto, Liberty Mutual Contribute to Snapsheet’s New $29M Financing
Snapsheet, a virtual claims technology provider, raised $29 million in new funding, and the growing InsurTech plans to invest its cash infusion into furthering a global expansion. New investors ...
AmTrust Halfway Toward Focusing More on Local Markets With Surety Sale to Liberty Mutual
AmTrust Financial Services has completed the sale of some of its global surety operations to Liberty Mutual Insurance, the first piece of a two-part deal designed to help it focus more on local ...
How to Make It Personal: Online Sales in Insurance
Insurers are realizing the increasing need for a more impactful and tailored approach to their online sales process. A brochure-website doesn't cut it anymore, as customers are expecting to encounter ...
AIG Names McElroy to Lead Its North America General Insurance Arm
American International Group, Inc. promoted David McElroy to become president and CEO of its North America General Insurance operations. McElroy joined AIG in September 2018 to become Lexington's ...
Beware of All the Added Risks That 5G Mobile Networks Will Bring: Swiss Re
Insurers and reinsurers alike should be wary about risks stemming from the new 5G mobile networks now being installed around the world, Swiss Re warns in its bi-annual SONAR report. You've heard ...
Executives On The Move at AXIS Re, BHSI and W.R. Berkley Corp.
AXIS Re hired a new executive to help manage its Lloyd's operations. Berkshire Hathaway Specialty Insurance appointed a Chubb veteran to run its expanded operations in Australia. A veteran executive ...
Executives On the Move at Starr, Willis Towers Watson and AIG
Starr Insurance Companies appointed a former Marsh executive to a leadership role involving the UK and Europe. Willis Towers Watson named an executive to oversee Corporate Risk and Broking for the ...
Executives On The Move at Sompo International and Zurich North America
A former Amlin Insurance executive is joining Sompo International Holdings to become head of Financial Lines Insurance in Germany. Zurich North America named a new head of Sales and Distribution for ...
Workplace Injury Claims Keep Dropping With Increase in Older Workers
The number of workplace injury claims continues to decline year after year despite significant changes in workforce demographics that one might think should increase claims frequency, according to a ...
Property/Casualty Insurance in the Age of ‘Humane Automation’
Welcome to the age of "humane automation." As organizations ramp up technology investments in search of greater efficiency, a global conversation is emerging around the need to use artificial ...
Understanding Innovators: How to Motivate New Product Development and ‘Explosive Growth’
The former head of a global life reinsurer's innovation studio has worked in locations as far apart as Singapore and Toronto. But if you want to hear what impresses him these days, steer the ...
Are You Managing Your Relationships?
My accountant, Eric, recently told me his son passed the bar to practice law in New Jersey. During our conversation, Eric told me how he had explained to his son this important difference between his ...
Plane Crash Kills 3 Hilb Group Executives in Insurance Agency Tragedy
The Hilb Group, headquartered in Richmond, Va., has confirmed that three regional executives died in a plane crash near Roatán, Honduras, on Saturday, May 18. Rob Miller, regional leader, Hilb Group ...
Systems Integration: Leave Patchwork Solutions Behind
One of the biggest challenges property and casualty insurers face today centers on the functionality of their legacy systems, which weren't built to align or integrate with other platforms, external ...
U.S. Personal Lines Is on an Upswing, Driven by Auto Insurance Gains
U.S. personal lines insurance saw strong premium growth of 8 percent in 2018. What's more, the sector's statutory combined ratio of 99 for 2018 represented the market's best results since 2013, ...
Underwriters, Traders Arriving Late to London’s Sobriety Party: Viewpoint
For most of the traders, bankers, lawyers and accountants who populate the City of London, the era of excessive daytime boozing is long gone. Pubs and pints have been replaced by coffee shops and ...
Build a Better Company by Recognizing Employees Who Do Things the ‘Right’ Way
One way to be a good leader is to proactively search for and recognize employees who are doing things the right way. That's a tip from Bruce Jones, senior cast development director at the Disney ...
Reputations Lost: Lessons for Insurers From Other Industries
"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently." Those words are attributed to Warren Buffett, and if Buffett said them, ...
Executives On The Move at Everest Re and GuideOne Insurance
Everest Re appointed a veteran insurance industry board member and financial executive to its own board of directors. GuideOne Insurance named a new chief underwriting officer.
Performance-Based Pay Linked To Employee Mental Health Problems
Roughly seven of 10 companies in the United States, if not around the globe, use some form of pay-for-performance compensation system: bonuses, commissions, piece rates, profit sharing, individual ...
InsurTech Startups Will Scale Up and Mature in 2019, and Other Predictions
The insurance technology, or InsurTech sector has seen much technological and investment development over the past few years. Traditional insurance business lines such as health, auto, and commercial ...
AIG Shareholders Back $21M Pay Package for CEO Duperreault
American International Group Inc said shareholders approved a $21 million pay package for Chief Executive Officer Brian Duperreault during the company's annual meeting on Tuesday. A non-binding ...
Design and Architectural Transformation at Zurich North America and CNA
Zurich North America and CNA have at least one thing in common: Within the last few years, they shed their old, outdated headquarters and redesigned completely new spaces from the ground up. They ...
Guy Carpenter Suspends Two Over Email Harassing Incident
A Lloyd's of London insurance broker, Guy Carpenter & Co., suspended an executive for sending a sexually suggestive email about a female colleague. A second employee was suspended for forwarding ...
Next Insurance: How We’re Overcoming the Roadblocks of Commercial Auto
When Next Insurance launched its commercial auto insurance coverage in September 2018, one frequently asked question—whether Next had such an offering—gave way to another: Why was Next Insurance ...
Carrier/InsurTech Partnerships Offer Short-Term Benefits: J.D. Power Expert
Carriers seeking to build up their InsurTech capacity face a number of choices to get there—some quite pricy. In the short term, partnerships may be the most cost-effective and least risky way to ...
Executive View: Why Insurers Need to Partner With Customers, Tech Startups
As smart carriers continue to leverage cognitive and digital computing technologies to better understand, mitigate and absorb customers' property and casualty risks, the insurance industry is primed ...
Carrier Management Announces the Launch of ‘InsurTech Today’
Today, Carrier Management premiers a brand-new email newsletter called InsurTech Today. This inbox resource is written for those who value a quick take on the most important InsurTech developments. ...
How InsurTech Can Improve Catastrophe Response
I have been on the catastrophe front lines. I have worked 12-hour days, seven days a week, for weeks on end estimating and paying for losses to ensure people had money to start repairing their ...
Lemonade’s European Expansion Begins in Germany
Lemonade is making good on its promise to expand into Europe, with news that it is now open for business in Germany. The New York-based startup said it has started offering contents and liability ...
Executives On The Move at Markel International and Aspen Re
Markel International is bringing a Chubb and AIG veteran on board to head its personal accident, contingency and entertainment business in Asia. Aspen Re made two major executive promotions and a ...
Billionaire Covering Morehouse Grads’ $40 Million Student Debt Has Insurance Industry Ties
The billionaire technology investor and philanthropist who has promised to assume the $40 million student debt of the entire graduating class at Morehouse College has ties to the insurance industry. ...
Determining Lemonade Investors’ Likely Exit Strategy
Now that Lemonade has raised nearly $500 million in financing to date and is pursuing an international expansion, speculation has begun as to what the exit strategy will ultimately be for investors ...
Turn Introversion Into a ‘Networking Superpower’
Crowded networking events can be a source of dread for introverts. But Holly Raider, a clinical professor of management at the Kellogg School of Management, believes introverts can be just as skilled ...
Welcome to the Debut of Our InsurTech Newsletter
Welcome to the debut edition of Carrier Management's InsurTech email newsletter. The launch of this twice-monthly offering comes at a crucial time for InsurTech, which is an increasingly important ...
The Latest Launches From Next Insurance, The Hanover and Selective
Next Insurance recently launched professional liability coverage targeted to its small business client base. The Hanover Insurance Group now offers watercraft insurance. Selective Insurance Company ...