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| Today's Headlines | April 20, 2021 |
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Carrier vs. MGA. U.S. vs EU. Specialty niche vs. traditional insurance lines. There are many things that distinguish one InsurTech from the next, including financial metrics like internal rates of return, but representatives of venture capital firms say that founders who clearly can communicate a long-term vision are the ones that stand out when they... read more | | |
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For many organizations, it's been a year of operating remotely. As employees and managers have worked to overcome the challenges that come with remote work, some are now facing a challenge they didn't expect: how to onboard employees remotely. The more common challenges with traditional onboarding, such as lack of understanding of role, time management,... read more | | |
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Application integrity for personal auto insurance has deteriorated more than 20 percent over the past eight years, according to Verisk research,[1] including a 5.6 percent decline in the veracity of data inputs on applications in just the past four years. Cumulatively, Verisk analyzed... read more | | |
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COVID-19 has exacerbated socioeconomic inequality and exposed vast racial and economic disparities in America. Millions have lost their jobs, and research shows that historically under-resourced communities have been hit especially hard both by the virus itself and the economic fallout. The auto insurance industry has an opportunity to help those communities recover and eliminate a... read more | | |
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As actuaries and other professionals in the property/casualty insurance industry start to better understand racism, many people genuinely want to help, but they don't know how. They also fear saying the wrong thing or being implicated, especially since—as we saw in the related article, "Actuary to Actuary: Understanding Racism In the Workplace"—you can be well... read more | | |
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Among the many things that have changed how the actuarial field functions is an underlying movement to automate. By integrating cognitive computing capabilities into their actuarial processes, reserving teams have a new and powerful tool to better equip them to eschew repetitive tasks, like data cleaning, validating and loading, and analysis preparation. Instead, they can... read more | | |
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Litigated claims are a key driver of increasing loss and expense ratios for property/casualty insurance carriers. Data-driven approaches—in particular, suit avoidance techniques and proactive de-escalation practices—can help insurers reduce litigation rates. ALAE Ratios on the Rise Some of the key reasons behind these phenomena are: Litigation funding driving higher incidence of suit filing. Broader definitions... read more | | |
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As observed from the numerous COVID-19 first-party property cases that have already been filed, insureds are claiming insurers have denied their business interruption claims in bad faith. Whether the applicable jurisdiction limits bad faith damages via statute or allows such damages consistent with punitive damages, insurers must ensure their adjusters are handling these COVID-19 claims... read more | | |
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We all need allies—and nowhere is that more true than in the cut and thrust of the workplace. A workplace ally is an individual who is not a member of an underrepresented group but who takes action to support one or many such groups. It could, for example, be men advocating for the advancement of... read more | | |
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We can easily meet our boss's deadlines. We can get to the airport with time to spare before our flight. We can submit the team report a day before it is due. And yet, many of us let the goals and deadlines we set for ourselves slide or even disappear. Why is that? This is... read more | | |
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| | Many of us made big changes to the way we work this year. Whether your team is ... read more | |
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| | Watch on demand: Erie Insurance's Tim Shine shares the journey to digitize the ... read more | |
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| | Digital innovation is reshaping payments in the insurance industry. ... read more | |
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| | Sprinklers prevent costly property damage. Mitigate risk, educate customers, ... read more | |
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| | Against the backdrop of digital transformation and the pandemic, insurers can ... read more | |
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