Insurers that focused on modernizing technology and improving their data, analytics and artificial intelligence (AI) capabilities are now able to incorporate generative AI (gen AI) as a natural next step on their reinvention journey. Gen AI is changing everything. It is being…
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Cyber is an expanding net-new growth area with opportunity to deliver a compelling insurance offering especially in the mid-market. Yet, the path to becoming a market-leading and profitable cyber insurer is fraught with challenges. In this article, we outline the essential strategies…
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The brokerage market has enjoyed a period of sustained revenue growth, profitability, and shareholder value, driven by favorable macroeconomic conditions. M&A activity has flourished due to easy access to inexpensive capital on a robust cash flow business, while organic growth has been…
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Recently, many leading insurers have applied transformative solutions to enhance their cyber products. With the cyber insurance market projected to double to $29B by 2027, we explore what constitutes market-leading cyber claims management. In this blog we’ll delve into the complexities of…
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Personal lines insurance is very price-sensitive. As discussed previously, maintaining a 20+% expense ratio is not feasible for insurers. Beyond pricing, what truly fosters customer loyalty, and how can insurers compete to increase their market share? In this blog, I explore strategies…
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Use of algorithmic underwriting is increasing across the insurance industry. With enhanced decision-making and improved risk assessments, an algorithmic approach to underwriting can optimize operations for insurers and experience for their customers. In this post we delve into the evolution and advantages…
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The global P&C personal lines market, which historically saw premium growth at 3%, has risen sharply to more than 15% in the last two years. Despite this premium growth, the expense ratio for most insurers remains in the high-cost range of 20…
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The UK is the historical birthplace of the modern insurance industry and where the London Market emerged as a hub for global risk. How are industry dynamics and new domestic challenges in claims and pricing shifting the landscape? It’s London Calling. We…
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Strategic claims segmentation diverges from the traditional ways of managing claims, promoting a more detailed, data-driven approach. Traditional segmentation only considers the monetary value and data points such as the cause of loss and the exposure. Strategic segmentation considers the individual merits…
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Risk used to be relatively simple. If a local bakery wanted insurance, you would worry about the structure, the location, how it operated and could have a pretty good view of its risk profile. Today that same business is far more complicated…
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As we look ahead to 2024, while we see many challenges for the insurance industry, we meet these with optimism. Insurance is a resilient industry with a deep sense of purpose—offering people, families...
GenAI has taken the world by storm. You can’t attend an industry conference, participate in an industry meeting, or plan for the future without GenAI entering the discussion. As an industry, we are in...
Generative AI (GenAI) has the potential to transform the insurance industry by providing underwriters with valuable insights in the areas of 1) risk controls, 2) building & location details and 3)...
Life insurance stands on the cusp of a new chapter in reinvention. Until now, insurers have been gradually moving forward with wide-scale digital transformation. But with the impacts of AI, including ...
In celebration of International Women’s Day, we are delighted to be part of a panel of extraordinary women leaders for this special edition of Insurance News Analysis. We discuss the strides being mad...
As we bid farewell to 2023 in this final Insurance News Analysis of the year, we are happy to welcome Cory McAnelly, Assistant Vice President of Enterprise Innovation Strategy at Principal, to join as...
Today’s cloud-based policy administration systems (PAS) are designed to enable both P&C and Life insurers to manage policies through their entire lifecycle and are the foundation of carriers’ digi...
Strategic claims segmentation diverges from the traditional ways of managing claims, promoting a more detailed, data-driven approach. Traditional segmentation only considers the monetary value and da...
Risk used to be relatively simple. If a local bakery wanted insurance, you would worry about the structure, the location, how it operated and could have a pretty good view of its risk profile. Today...
The global P&C personal lines market, which historically saw premium growth at 3%, has risen sharply to more than 15% in the last two years. Despite this premium growth, the expense ratio for most...
