Claims & Reserving
AXIS Loses Nearly $200M in Q4
AXIS Capital Holdings closed out its 2018 fourth quarter with a nearly $200 million net loss, something President and CEO Albert Benchimol blamed largely on higher property catastrophe losses. The ...
Decoding the Hidden Value of Unstructured Text Data
Data science is about supporting decisions with insights, advice or predictions based on rigorous analysis of prior business facts, decisions and outcomes. One of the biggest challenges for insurers ...
2018 Catastrophe Losses Faced 60 Percent Protection Gap: Aon
Economic costs of 2018's 394 natural catastrophe events came to $225 billion with insurance covering $90 billion of the overall total. The results reflect the fourth costliest year on record of ...
U.S. Proposes Dramatic Expansion of Commercial Drone Flights
The federal government has unveiled a long-awaited set of proposals to dramatically expand civilian drone flights while also tightening security, critical steps for an industry seeking to expand into ...
Between an Ant and a Grasshopper, Lemonade’s Results ‘Most Improved’
The three U.S. venture-backed InsurTech carriers we have been tracking for several quarters have more money, more premium and more losses as we head into the last quarter of the year. During the ...
‘Root’ of the Problem: Why One InsurTech’s Loss Ratios Still Disappoint
In the first part of this four-part article, we revealed that Root—currently the fastest growing carrier of three VC-backed InsurTechs we've been tracking—also posted the worst loss ratio result ...
Sweden’s Wildfires Just One Sign of Growing European Climate Disaster
Hannele Arvonen, the owner of one of Sweden's largest lumber yards, is spending the winter months planning for a new and unexpected threat to her business: regular wildfires raging just south of the ...
State Farm Testing Blockchain Tech for Auto Claims-Related Subrogation
State Farm said it is testing a blockchain product for auto claims-related subrogation. Subrogation is typically the last part of an insurance claims process, where one insurance company recovers ...