Michael Murray, Author at Insurance Thought Leadership




Michael Murray

Michael Murray

Michael Murray is a University of Chicago-trained economist passionate about providing decision-quality information and insight that helps others profit from deep understanding of both the big picture and subtle nuances. Murray is an accomplished manager, research professional and author known for superior quantitative and qualitative analysis, critical thinking, creativity and communicating complex material in a manner readily understood by all.

With more than three decades of experience tracking, analyzing and reporting on the big picture trends and developments affecting the property/casualty industry and the entities therein, Murray served most recently as assistant vice president for financial analysis at ISO, a Verisk Analytics company.

Murray’s responsibilities at ISO from December 1986 to February 2015 included a range of initiatives pertaining to insurer enterprise risk management, such as ISO’s ERM Forum and ISO’s web-based insurer enterprise risk management portal. His portfolio also included ISO’s quarterly reports about insurers’ financial performance, related press releases and ISO’s Top 100 Insurer Financial Results product, as well as ISO’s annual analyses of property/casualty industry loss and loss adjustment expense reserves, ISO’s Insurance Issues Series publications and econometric modeling of frequency, severity, pure premium and exposure trends. In addition, Murray provided econometric support for ISO advisory loss cost filings, oversaw production of ISO’s annual analyses of insurers’ expenses and taxes by line of business, wrote thought leadership speeches and by-lined articles for senior executives and participated in a variety of special projects.

From January 1986 to October 1986, Murray served as a senior economist in the Business Economics Group at W.R. Grace, where his duties included economic and financial market forecasting. His professional experience also includes a nearly six-year stint from April 1980 to December 1985 in the corporate planning and research department at Royal Insurance (now the Royal Sun Alliance). During that period, he built the models Royal used to project industry frequency, severity, exposure and premiums by line and the models Royal used to forecast key industry income statement and balance sheet items. Murray also generated market share and profitability analyses in addition to contributing to the development of Royal’s strategic and operational plans.

Murray’s interests include the application of multivariate regression and other advanced analytic techniques to all manner of insurance problems, including economic capital modeling, enterprise risk management, loss reserving, financial forecasting and operational decision making.

A National Merit and New York Board of Regents scholar, Murray earned his masters in economics from the University of Chicago in 1979 and his bachelor of arts in economics with honors from the State University of New York at Stony Brook in 1977.

Murray is a past president and former member of the board of the Society of Insurance Research, and he remains an active member of the Society. In addition, he has served on the advisory board for the Howe School Alliance for Technology Management, affiliated with the Howe School for Technology Management at the Stevens Institute of Technology and remains an active participant in the Alliance. Murray is also a member of the National Association of Business Economists and the New York Association of Business Economists.

Recent Articles by Michael Murray

Equifax Breach: The Implications

The massive data breach suffered by Equifax has both serious consequences for consumers and potentially profound long-term implications for commerce and the nascent cyber insurance industry. In the three days since Equifax’s press release announcing the breach potentially exposing names, addresses, birthdates, Social Security numbers and other information for about 143 million U.S. consumers, both […]

Harvey Hammers Home NFIP Issue

The economic devastation and human suffering that Hurricane Harvey inflicted on vast numbers of people will sorely test the National Flood Insurance Program (NFIP) as it comes up for renewal, with the NFIP lapsing if Congress and the president fail to act by the end of the month. Some in the federal government, state regulators, […]

Hurricane Harvey: A Moment of Truth

The first major hurricane to make landfall in the U.S. since hurricanes Dennis, Katrina, Rita and Wilma in 2005, Hurricane Harvey will cause billions of dollars in economic damage and disrupt countless lives. In the wake of massive economic losses and untold human suffering, including loss of life, millions of individuals and businesses will turn […]

Plunging Costs for Autonomous Vehicles

Personal auto liability is U.S. property/casualty insurers’ largest line of business, and personal auto insurers face a long and daunting list of challenges. But many of those challenges will merely alter competitive dynamics within auto insurance markets, enabling the best insurers to gain market share at the expense of weaker competitors (e.g., those insurers that […]

Solving the Insurance Talent Crisis

A lot of ink has been devoted to the looming talent crisis in insurance, bemoaning the difficulty of attracting qualified young people to careers in an industry that is a cornerstone of commerce and one that helps countless people and businesses around the globe recover when the worst occurs. And one need not look far […]

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