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| Today's Headlines | March 8, 2021 |
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The global pandemic has triggered fundamental changes that present insurers with new challenges and opportunities. Insurers embracing technological advances in underwriting will have an edge in the post-pandemic era. The Limits of Traditional Underwriting In response to COVID-19, businesses are accelerating their modernizing efforts, rendering traditional underwriting methods out of date. The pandemic has set... read more | | |
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The recipe for building a billion-dollar-premium commercial insurance operation from nothing in four years involves mixing a new model for doing business with a supportive and visionary executive team, a fast-paced collaborative and diverse group of "A-level" players, and a leader with a will to win. During a recent interview with Carrier Management, Michael Chang,... read more | | |
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Highly profitable sub-90 personal auto combined ratios recorded by 10 publicly traded property/casualty insurers in 2020 don't look anything like the 106 recorded in 2016. But they're headed in that direction, Fitch Ratings analysts suggest. Competitive pricing forces and a return to historical claims frequency patterns as the economy recovers make the 2020 level of... read more | | |
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U.S. insurers are strengthening language in policies that cover business losses to protect them from future claims related to the coronavirus pandemic or other widespread illnesses that disrupt operations, industry sources say. read more | | |
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RLI Corp. is making a new of leadership changes as it gears up for long-time CEO Jonathan Michael's retirement at the end of 2021. read more | | |
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The underwriters of the future will need to be "exponential," multiplying their value by developing new skills and taking on enhanced responsibilities. This means evolving into new roles, such as technology trailblazer, data pioneer, deal-maker, portfolio optimizer and risk detective, according to Deloitte's new report, "The rise of the exponential underwriter." Deloitte surveyed 19 chief... read more | | |
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The auto insurer Geico Corp, a unit of Warren Buffett's Berkshire Hathaway Inc, must face a proposed class action claiming it overcharged policyholders as the coronavirus pandemic led to less driving and fewer accidents, a judge has ruled. read more | | |
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The largest wholesale insurance broker, Amwins Group, is getting even larger as it has agreed to acquire Worldwide Facilities, the fourth-largest wholesale insurance broker in the U.S. read more | | |
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As more people get vaccinated around the world, insurance carriers are weighing possibilities of cutting their real estate footprints and allowing associates to work at home more than they did prior to the COVID crisis. "We are working through this and making sure we get to a ratio of 0.6 workspaces per person," Thomas Buberl,... read more | | |
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| | Is your insurance organization prepared to meet the heighted expectations of ... read more | |
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| | Now more than ever, insurance carriers are interested in using data science to ... 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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| | Consumers don't take into account the fees that insurance companies have to pay ... read more | |
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| | It has never been more evident that traditional paradigms no longer serve the ... read more | |
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