Insurance Thought Leadership

Insurance Thought Leadership

Recent Articles by Insurance Thought Leadership

Six Things Newsletter | December 1, 2020

In this week’s Six Things, Paul Carroll ponders who is liable when a driverless car crashes. Plus, COVID-19 is no black swan; advice for early-stage startups on pricing; how AI transforms risk engineering; and more. Who Is Liable When a Driverless Car Crashes? Paul Carroll, Editor-in-Chief of ITL Now that truly autonomous vehicles are starting […]

Six Things Newsletter | November 24, 2020

In this week’s Six Things, Editor-in-Chief Paul Carroll considers what a new experience for employees may look like. Plus, how to outperform on innovation; technology and the agent of the future; 4 initiatives that unlock IoT’s value; and more. Designing a New Employee Experience Paul Carroll, Editor-in-Chief of ITL As the pandemic has accelerated the […]

Six Things Newsletter | November 17, 2020

In this week’s Six Things, Paul Carroll ponders the key technology trends of 2021. Plus, 6 megatrends shaping life insurance; new paradigm for reinsurance; how to boost chance of being acquired; and more. 2021’s Key Technology Trends Paul Carroll, Editor-in-Chief of ITL While I usually don’t believe in either Christmas songs or lists of key […]

The Future of Blockchain Series

Blockchain has incredible potential to impact traditional business functions and inspire new innovative opportunities A key benefit of the technology, providing a single source of truth kept up to date in real time and accessible through permissions by all stakeholders, has huge implications for the insurance and risk management industries. This webinar begins by exploring […]

Six Things Newsletter | November 10, 2020

In this week’s Six Things, Paul Carroll looks at the new shape of innovation. Plus, transforming the claims space; how AI powers customer contacts; essential steps for cyber insurance; and more. The New Shape of Innovation Paul Carroll, Editor-in-Chief of ITL When I interviewed Howard Schultz for a magazine cover in the late 1990s, I […]

Six Things Newsletter | November 3, 2020

In this week’s Six Things, Paul Carroll shares his thoughts on a new push for autonomous vehicles. Plus, property claims and innovation, driving into the future of telematics, the state of the commercial insurance market, and more. New Push on Autonomous Vehicles Paul Carroll, Editor-in-Chief of ITL As I got set to write this post […]

Six Things Newsletter | October Wrap Up

The most popular topics of October. The future of insurance: hyper-personal; a new boom for life insurance; 6 cybersecurity threats for insurers; secret to leadership in insurtech innovation; and more. THIS MONTH’S TOP ARTICLES Future of Insurance: Hyper-Personal Protection products will increasingly have to be dynamic, meeting the needs of each individual as preferences and […]

Six Things Newsletter | October 26, 2020

In this week’s Six Things, Paul Carroll asks – where are all those benefits promised by AI? Plus, how to pursue innovation in a crisis; speeding innovation in life insurance; a future-proof operating model; and more. Where Are All Those Benefits Promised by AI? Paul Carroll, Editor-in-Chief of ITL Having covered developments in artificial intelligence […]

Six Things Newsletter | October 20, 2020

In this week’s Six Things, Paul Carroll recaps a panel discussion between Insurance CEOs at the International Insurance Society annual forum. Plus, the hyper-personal future of insurance; how to unlock a ‘Customer 360’ view; and more. Insurance CEOs Spec Out a Post-COVID World Paul Carroll, Editor-in-Chief of ITL At the International Insurance Society’s annual forum […]

3 Tips for Increasing Customer Engagement

Customers are rushing to embrace the digital space. Is your business prepared? Even before the pandemic, insurance customers were moving to digital channels and demanding the kind of smooth experience they get with Google and Amazon. With customers demanding new types of interactions and agencies and companies needing to increase leads in a world that’s […]

Six Things Newsletter | October 13, 2020

Moving Beyond ‘Greed is Good.’ Plus, a new boom for life insurance; insurtech’s role in transformation; how analytics can tame ‘social inflation;’ and more… Moving Beyond ‘Greed Is Good’ Paul Carroll, Editor-in-Chief of ITL Last month marked the 50th anniversary of Milton Friedman’s defining essay on the role of the corporation, which concluded that “there […]

Six Things Newsletter | October 6, 2020

In this week’s Six Things, Paul Carroll catches a glimpse of the future of insurtech. Plus, why haven’t more startups failed; COVID, and how to pivot to innovation; 6 cybersecurity threats for insurers; and more. A Glimpse of the Future of Insurtech Paul Carroll, Editor-in-Chief of ITL Today’s announcement that Bold Penguin is acquiring RiskGenius […]

Six Things Newsletter | September 29, 2020

In this week’s Six Things, Covid and ‘the Great Reset.’ Plus, where blockchain shines right now; reflections on insurtech,pandemic; commercial claims journey with AI; and more. COVID and ‘the Great Reset’ Paul Carroll, Editor-in-Chief of ITL Although the insurance industry seems to have aggressively and (mostly) successfully shifted toward digital interactions during the pandemic, an […]

Six Things Newsletter | September Wrap Up

September Highlights: 3 big opportunities from AI and ML; the future isn’t just for insurtech; creating the future of distribution; and more. THIS MONTH’S TOP ARTICLES 3 Big Opportunities From AI and ML Machine learning can speed underwriting while reducing costs and providing valuable information on why certain proposals fail. Read More The Future Isn’t Just […]

Six Things Newsletter | September 22, 2020

In this week’s Six Things, ITL’s Paul Carroll asks for some respect for insurance innovators. Plus, digital future of insurance emerges; AI in commercial underwriting; selling where life happens; how to minimize flood losses; and more. Some Respect for Insurance Innovators Paul Carroll, Editor-in-Chief of ITL The insurance industry is pretty good at beating itself […]

Six Things Newsletter | September 15, 2020

In this week’s Six Things, ‘Fake News’ reaches risk management. Plus, creating the future of distribution; how to evaluate AI solutions; you can still have personal interactions; what my $18,289 medical bill says; and more. ‘Fake News’ Reaches Risk Management Paul Carroll, Editor-in-Chief of ITL With all the legitimate concerns about the wildfires in the […]

Six Things Newsletter | September 8, 2020

An Early Taste of Climate Change Disrupting Insurance. Plus, how ‘explainable AI’ changes the game; the future isn’t just for insurtech; ‘virtualizing’ your customer service; COVID-19 and need for analytical insurers; and more. An Early Taste of Climate Change Disrupting Insurance Paul Carroll, Editor-in-Chief of ITL There’s a line that I first heard only a […]

Six Things Newsletter | Sept 1, 2020

A Lesson from Hurricane Laura? Plus, 3 Big Opportunities from AI and ML; How CISOs are Responding to COVID; New Sense of Urgency on Going Digital; COVID-19: What Buyers Want to Know; Payments at the Speed of Light; and The Missing Tool for Cyber Resilience. A Lesson From Hurricane Laura? Paul Carroll, Editor-in-Chief of ITL […]

Six Things Newsletter | August Highlights

August was about COVID and innovation. Plus, why work from home threatens innovation, how insurers are applying AI, 5 hurdles to insurtech success, and more. THIS MONTH’S TOP ARTICLES Bigger Disruptor: Lemonade or Tesla? With its spectacular IPO, Lemonade has the attention of the insurance world, but Tesla may be the bigger disruptor in the […]

Six Things Newsletter | August 25, 2020

In this week’s Six Things, Paul Carroll takes a look at Elon Musk and Your Feedback Loop. Plus, the ‘Law of Computability’ powers the bionic era, COVID-19: technology, investment, innovation, 3 ‘must-have’ digital investments, graph theory, network analysis aid actuaries, and more. *|MC_PREVIEW_TEXT|* View this email in your browser | Forward to a colleague Elon Musk […]

Six Things Newsletter | August 18, 2020

In this week’s Six Things, are sharknados next? Plus, why COVID-19 must accelerate change, 5 hurdles to insurtech success, an inconvenient sales truth, why COVID is a chance to rethink workers comp, and more. Are Sharknados Next? Paul Carroll, Editor-in-Chief of ITL Many years ago, when I watched “Biloxi Blues,” the Neil Simon play about […]

Six Things Newsletter | August 11, 2020

In this week’s Six Things, COVID-19 and the long slog ahead. Plus, why work-from-home threatens innovation, how insurers are applying AI, five things here to stay post-pandemic, ‘scalable compassion’ in workers’ comp, and more. COVID-19: The Long Slog Ahead Paul Carroll, Editor-in-Chief of ITL While sorting through the latest studies and projections about the path […]

Six Things Newsletter | August 4, 2020

In this week’s Six Things newsletter, Paul Carroll argues that we should “Burn the Fax Machines” so both clients and companies are happier. Plus, the bigger disruptor: Lemonade or Tesla, AI in a post-pandemic future, crisis mitigation beyond COVID-19, and more. Read more of this week’s most popular articles, curated by ITL’s editor-in-chief. Burn the […]

Six Things Newsletter | July 28, 2020

Growing Risks of Social Inflation Paul Carroll, Editor-in-Chief of ITL “Social inflation,” an on-again, off-again issue for the insurance industry for more than four decades, is on again as a major factor in insurance claims and, thus, rates. The issue, related to beliefs and trends that lead people to expect ever-higher compensation and for juries […]

Optimizing Care with AI in Workers Comp Claims

The expert panel explains how AI can: let you identify the right provider for a case and steer the injured worker to that provider help busy adjusters easily spot potentially troublesome cases and manage them better, from start to finish continuously optimize your network of providers, so you can be sure to have the right […]

Six Things Newsletter | July 21, 2020

Let’s spend a minute on why devil’s advocates are so important when formulating personal and corporate strategies, and how you can use them — rather easily, in fact. Plus why traditional insurance won’t work, the tipping point for claims automation, and more. COVID and the Need for Devil’s Advocates Paul Carroll, Editor-in-Chief of ITL Over […]

Six Things Newsletter | July 14, 2020

The Silos Are Coming Down Paul Carroll, Editor-in-Chief of ITL While I’ve heard many too many empty promises of corporate synergies over the years, I’ve learned that one form of cross-selling really does work: “Do you want fries with that?” So, I’ve been waiting (and hoping) for insurers to find ways to achieve similar sorts […]

Six Things Newsletter | July 7, 2020

Forward to a colleague A Way Forward on Flood Insurance? Paul Carroll, Editor-in-Chief of ITL In the mess that is flood insurance in the U.S., a bright spot emerged late last month when First Street Foundation released a major report on the issue, along with a model that will go a long way toward making […]

Six Things Newsletter | June 30, 2020

What to Learn From the Segway’s Failure Paul Carroll, Editor-in-Chief of ITL The original Segway, whose demise was announced last week to a chorus of chuckles about mall cops and I-told-you-sos about the nerd factor, may have been the most beautiful piece of design I’ve ever seen. Only the iPhone rivals the Segway, in my […]

The Griffith Foundation and The Katie School of Insurance June Webinar Series

In an effort to meet the educational needs of financial regulators during these challenging times, the Katie School of Insurance is collaborating with The Institutes Griffith Insurance Education Foundation to deliver a series of 8 non-partisan, non-advocative webinar programs during the month of June.  Because of significant overlap with the informational needs of legislators, we […]

ITL Video Series

Coming Soon! With the world turned upside down by the pandemic, we’re spending a lot of time thinking not only about how to navigate the choppy waters but also about what the world will look like for insurers and their customers once we finally (safely) reach the other side.  Fortunately, we don’t have to do […]

How AI Can Vanquish Bias

This article by Lemonade co-founder and CEO Daniel Schreiber tackles a profound issue for insurance and offers an innovative solution. The article suggests a smart way to watch for bias hidden in algorithms and to correct for it. In the process, Daniel provides an opening toward a holy grail: being able to price risk accurately for […]

How AI Can Vanquish Bias

This article by Lemonade co-founder and CEO Daniel Schreiber tackles a profound issue for insurance and offers an innovative solution. The article suggests a smart way to watch for bias hidden in algorithms and to correct for it. In the process, Daniel provides an opening toward a holy grail: being able to price risk accurately for […]

10 Tips That Your Innovation Program Is Failing

The saying in journalism is that there are no new stories, just new reporters. It seems the same is true of mistakes in innovation programs: There are no new errors, just new companies making them. I say that having spent years watching innovation programs at established companies fail for almost the same reasons, time after […]

Embracing Risk Management As a Driver of Value

We have been telling everyone who would listen for a long time that the future of the insurance industry will be dictated, not by the insurers, but by the clients. We have also been telling you that this reorientation will manifest itself first on the commercial side of things, if for no other reason than […]

Workers Comp: Tip of the Spear on Innovation

Participating in a panel last week in Orlando at the WCI360 event brought into focus two ideas about innovation in insurance that aren’t understood fully enough yet. One is that workers comp will lead the way, because innovation can happen in so many more ways than is true for other parts of the insurance industry. […]

Coaching to Win at Innovation

With August approaching, football training camps (American football) are opening, and I can’t wait. I am reminded of a conversation I recently had with a sports agent about what makes some coaches consistently successful.  My conversation with Bruce Tollner, a founder of Rep 1 Sports who works with college and professional coaches, focused on the […]

Why Assumptions Are Dangerous

You know what happens when you assume? That’s right, you’ve heard the line before. But it’s true. So, why do we continue to assume so many things that we just don’t know will hold up?  People who study these things tell us that we all have to make assumptions to a certain point, or we’d […]

Aim for More Than a Passing Grade on Innovation

A little-known part of my professional career was a four-year stint as an entrepreneurship professor at a private university. All my students fell into one of three buckets: those who wanted to actually learn and were always prepared; those who just didn’t care; and those (the majority) who wanted to know what they needed to […]

Some Hope in the Face of the Wildfire Threat

In 2018, there were over 6,000 wildfires in California alone, destroying well over 10,000 structures, producing over $9 billion in property damage and claiming the lives of at least 88 people. Horrific. But there’s hope. More than 95% of the wildfires in California are controlled within the first 24 hours and are contained to 10 […]

Treading Water is Not a Strategy

In the wake of A.M. Best’s announcement that it will include a formal innovation assessment as part of its rating procedure for insurance companies, ITL Chief Innovation Officer Guy Fraker and I attended Best’s “Review and Preview” event in Scottsdale last week. Guy’s session was super well-attended, about twice as many folks as we expected. […]

Catastrophe Insurers Have a ‘Pinto Moment’

Over the past couple of weeks, we have used this commentary to shine a light on and begin a discourse regarding what we believe are the avoidable consequences of certain catastrophic events. As our takeoff point, we’ve focused on PG&E’s announcement that it plans to file for bankruptcy protection following massive liabilities from California’s wildfires […]

Will insurance avoid its own Blockbuster moment?

Now, more than ever, insurance executives should be seeking out opportunities to have their assumptions challenged, to understand how technologies can be applied, to embrace the idea that even the most incomprehensibly advanced innovations are easily grasped through the lens of consumers.  Conferences such as the recently concluded Global Insurance Symposium in Des Moines have […]

Seizing the opportunity to take a broader view of risk tech

“My light bulb moment was when I realized that as important as insurance—and by extension insurtech—is, ‘risktech’ is the future of technology that will be the most helpful to risk leaders going forward. “I am not talking about today’s popular governance, risk management and compliance systems framework, but rather the technology solutions that will help […]

2017 Innovators to Watch List

The complete list of 2017 Innovators to Watch follows: Agent Ave AOC Insurance Broker AppBus Aquaai Atidot Bold Penguin Care Bridge International Carpe Data Casentric, LLC CASPER Security Clear-Cut Medical Ltd Click2Sure Coastal Risk Consulting, LLC DataCubes DataRobot Digital Fineprint Driveway elevateBenefits Gain Compliance GAPro System GeneYouIn Goqii HazardHub Inc Hello ZUM Infinilytics Inc Instanda […]

Predicting innovation and transformation for insurance in 2018

While 2017 saw lots of progress in insurance, as the year winds down we’re going to put a stake in the ground and predict that 2018 will be the year that ushers in the amazing season of innovation and transformation that so many of us are hoping to produce.  For the last few years, the […]

How Google Is Wrong About the Internet

Eric Schmidt, the executive chairman of Google, said this week that the Internet will disappear — “There will be so many IP addresses, so many devices, sensors, things that you are wearing, things that you are interacting with, that you won’t even sense it,” he said. Now, Eric is a very smart fellow; he’s worth several billion dollars […]

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