Insurance & Risk

Image

Empowering the Underwriter of the Future

By

Megan Bock Zarnoch

I asked an audience how long it takes a new underwriter to go from zero to productive: The majority voted for 24 to 36 months. This is a ludicrous proposition in the age of AI.
Image

Electric Vehicles: A Use Case for UBI

By

Adam Kostecki

EVs bring to light some potentially interesting implications on auto insurance. They could represent a prime use case for a new type of embedded usage-based insurance policy.
Image

Underwriting Enters a New Age of Data

By

Deb Smallwood

96% of insurer executives see personal lines underwriting undergoing significant changes within five years – remarkable given the shifts that have already occurred.
Image

How Will Electric Cars Affect Insurance?

By

Gregg Barrett

Electric vehicles are more difficult and costly to repair or replace compared with gasoline vehicles, but the issues will fade over time.

Agent & Broker

Person holding a phone with mobile apps on the screen

How Agents Can Use Gamification

Digital games activate our brains’ reward pathways. Agents can use them to help customers learn about insurance and make each lesson stick.

The Hybrid Broker

Paul Carroll

Agent and Brokers Commentary: November 2022

We talk with Bryan Davis, a HUB International executive and head of its digital platform, VIU by HUB, about its new hybrid business model that includes digital and its broader implications for brokers.

Auto Insurance

View All >

How Telematics Improve Fleet Safety

Julie Lawton

Within the fleet industry, the most common cause of crashes is distracted driving, which injured more than 420,000 drivers and killed 3,142 people in the U.S. in 2020 alone,

Electric Vehicles: A Use Case for UBI

Adam Kostecki

EVs bring to light some potentially interesting implications on auto insurance. They could represent a prime use case for a new type of embedded usage-based insurance policy.

How Will Electric Cars Affect Insurance?

Gregg Barrett

Electric vehicles are more difficult and costly to repair or replace compared with gasoline vehicles, but the issues will fade over time.

Claims

View All >

How to Minimize Fraud in Disaster Claims

Graeme Rowe

Fraud accounted for $6 billion in losses to insurers and government agencies after Hurricane Katrina, but AI-based verification has come a long way since 2005.

Computer Vision Means Satisfied Customers

Neil Alliston

Insurers need to find a way to speed up claims — and fortunately, advanced computer vision can provide insurers with the means to do just that.

Overhead view of a freeway with on-ramps at sunset

An On-Ramp to Digital Auto Claims

Stephen Applebaum

Alan Demers

No one is happy with the current, cumbersome approach to auto claims -- and a key technology has finally arrived that will digitize and speed the whole process.

Commercial Lines

View All >

Will Medical Inflation Hit Workers' Comp?

Raji Chadarevian

David Colon

Amelia Carroll

While medical inflation in workers' comp has remained moderate for the past decade, the recent spike in consumer prices has elevated concerns.

Person tapping the screen of a FitBit while outdoors

The Key to Cutting Workers' Comp Costs

Stephanie Gifford

Wearable devices paired with artificial intelligence can significantly reduce workers' comp costs for businesses and the insurance providers that protect them.

Don’t Get Left Behind

Patrick Foy

Small businesses often seek providers offering them the most affordable policy quickly and efficiently. Any delay, and they will likely go to a competitor.

International

View All >

The Impact of Rising Inflation and Interest Rates on Insurance Profitability

Insurance performance through inflation cycles.

Asia: Latest Source of Opportunities

Roger Peverelli

Reggy De Feniks

Think of giants like Ping An; innovations such as TenCent's Waterdrop; and ecosystem plays such as Rakuten.

Insurance in UAE Ready for Big Leap

Neeraj Gupta

E-commerce in the UAE is booming, and the growth could let the young insurance industry boom, too.

Life & Health

View All >

Pink prescription medications on a counter

We Must Prescribe Drugs More Accurately

Brian Klepper

Josh Berlin

Major advances have the potential to improve health outcomes dramatically, while eliminating a hugely wasteful percentage of current drug spending.

Where Healthcare Value Can Lead

Brian Klepper

A robust ecosystem of risk-reduction mechanisms can result in far better health outcomes while conservatively reducing total health spending by 25% or more.

Woman with a phone smiling at something off-camera

Mental Health Challenges (Part 2)

Sally Spencer-Thomas

Central to the conversation of how best to support the mental health of BIPOC and AAPI communities is to realize one size does not fit all.

Personal Lines

View All >

Underwriting Enters a New Age of Data

Deb Smallwood

96% of insurer executives see personal lines underwriting undergoing significant changes within five years – remarkable given the shifts that have already occurred.

Person holding a drawing of a house in their hands

Biggest Home Insurance Factors for 2023

Adrian Dzielnicki

Rising costs, general anxiety about the economy and a surge in relocation that began during the pandemic are driving insurance shoppers to seek more options.

A gold lock atop a blue background with elements of data

Most People Won’t Trade Away Privacy

Andrew Hurst

More than six in 10 people don’t think that any discount is worth letting insurance companies collect more information about their driving habits and homes.

Regulation & Public Policy

View All >

Two people putting paper into boxes at the polls

What the Mid-Term Elections Mean

Richard Sega

Scott Hawkins

Here are the key issues that Conning believes will affect the insurance industry resulting from the election out-comes.

Blue connected net of light in front of a city

Regulatory Interest in Big Data

Anthony Habayeb

California warns that it is watching and that "bias and discrimination in any form will be investigated and will not be tolerated."

Can Insurers Be At Least A Bit Optimistic On Inflation?

In this webinar with ITL Editor-in-Chief Paul Carroll, Dr. Michel Leonard, head of the Insurance Information Institute's Economics and Analytics Department, lays out the Triple-I's latest thinking on the perplexing problem of inflation.

Reinsurance

View All >

How Cedents Can Win Reinsurance Race

Jerad Leigh

Here are three lessons from the most recent renewal cycles that can guide cedents looking to get the best result from their reinsurance placements.

Tress surrounding a view of the a city under a blue sky

Redefining Facultative Underwriting

Dave Rengachary

Why have reinsurers' facultative underwriters wait until an insurer has finished its process? Why not consult as experts across an ecosystem?

A New Paradigm for Sourcing Capacity

Dogan Kaleli

Capacity-seekers and capacity-providers are starting to recognize the benefits of an organized digital marketplace with an efficient electronic infrastructure.

Resilience & Sustainability

View All >

The End of Globalization?

Following many decades where globalization ruled, corporations will be reversing their globalization efforts for at least the next decade and likely far longer.

Several birds flying over the beach in the sunlight

We're Flying Blind on Climate Risk

Denise Bower

Carlos Sanchez

Because infrastructure often has a long lifetime, it's crucial to understand physical climate risks and embed resilience from the outset.

Low angle photo of blades of grass with dew on them

How Insurance Can Help on Net-Zero Goals

Natalia Moudrak

By bolstering confidence in the integrity of carbon offset transactions, insurers can ultimately enable greater capital flows to areas where investment is most critical.

Risk Management

View All >

"Micromorts": A New Way to Talk About Risks

Thinking in terms of micromorts--one chance in a million of dying each day--lets us see, for instance, that 230 miles in a car equals six on a motorcycle.

People in a meeting room looking over graphs

How Risk Managers, Brokers Must Collaborate

Gary Session

Solutions can address brokers’ administrative risks from within, in a way that focuses on the customer/risk manager experience and leads to vastly improved alignment.

Person hold a tablet with a chart shown next to pencil and paper

Real-Time Digital Risk Management

David Braunstein

Kristy Neal

Pat Stoik

Loss control teams at insurance brokers and carriers desperately need new ways to de-risk day-to-day operations of high-value shippers that have had troubling losses.

Underwriting

View All >

Empowering the Underwriter of the Future

Megan Bock Zarnoch

I asked an audience how long it takes a new underwriter to go from zero to productive: The majority voted for 24 to 36 months. This is a ludicrous proposition in the age of AI.

Underwriting Enters a New Age of Data

Deb Smallwood

96% of insurer executives see personal lines underwriting undergoing significant changes within five years – remarkable given the shifts that have already occurred.

Turning Underwriting Inside Out

In this webinar, we explore a different way of looking at how to improve underwriting; focusing on the needs of the underwriter, not just on the process.