AM Best Audio: Recent Episodes
A.M. Best Company, Inc.
Lauren Magro, financial analyst, AM Best, said mutual insurers' premium growth is outpacing rising loss costs and driving improved loss ratios. Magro spoke with AM Best TV at the 130th annual NAMIC convention, San Diego.
Raj Bector, senior partner, and Piyush Sharma, partner, both of McKinsey & Company, explain how AI could cut costs by up to 40%, shift roles from “doers to reviewers,” and create a competitive divide between firms that embrace full-scale transformation and those that fall behind.
Bryan Hodgens, senior vice president and head of LIMRA research, explains why standalone long-term care coverage remains scarce, and how hybrid products are emerging as key solutions to help families and younger consumers manage rising caregiving and retirement risks.
Subramanian Sankaran, chief operating officer at Xceedance, said artificial intelligence is a multiplier, and if operations are fragile, AI multiplies fragility.”
Amar Reganti, managing director and fixed income and global insurance strategist at Wellington Management, said insurers enjoy the benefits of higher yields right now, but they should also make sure they are getting diversification across their entire spectrum of investments.
Aaron Hillebrandt, principal and consulting actuary for Pinnacle Actuarial Resources, spoke with Best’s Review about the importance of brokers and broker relationships.
Through the Predict & Prevent podcast, Peter Miller, president and CEO, The Institutes, spotlights how data, AI and collaborative innovation can help the insurance industry move beyond risk transfer to proactive resilience and loss prevention.
Tim Grant, AVP auto insurance, LexisNexis Risk Solutions, explains how advanced segmentation and violation insights help insurers price risk, boost retention and improve road safety.
Michael van Wegen, head of client and market insights international, Gallagher Re Global Strategic Advisory, discusses how reinsurers are balancing strong returns with rising catastrophe losses and market headwinds.
Diane Delaney, executive director, Private Risk Management Association, discusses how insurers can guide affluent homeowners in managing coverage gaps and preparing for evolving risks.
Ann Modica, AM Best director of credit rating, criteria, research & analytics, unpacks the significance of the Federal Reserve’s latest rate cut, key takeaways from its projections, and how shifting payroll data and tariffs may complicate policy ahead.
In his book, “Sell Like a Pro,” Daniel Sarappo, a broker at Retirement Planning Specialists, discusses how building trust, mastering products and creating referral-driven systems are keys for agents to thrive in today’s competitive insurance market.
Jay Feinman, professor emeritus at Rutgers Law School, discusses the structural failures in disaster insurance markets, the growing impact of climate change and the critical role of government in creating resilient, equitable coverage.
Paul Vacquier, CEO, Beagle Services, discusses why non-weather water damage remains a top property loss for insurers, how evacuations worsen claims and how technology can help reduce preventable losses.
Karen Clark, co-founder and CEO, Karen Clark & Co., discusses why the United States remains vulnerable to a $100 billion hurricane, with rising coastal property values amplifying exposure risks for insurers.
In the book Faith & Purpose, industry veteran Brian Duperreault shares lessons from five decades in insurance, reflecting on crisis leadership, innovation and the enduring role of purpose and integrity.
Lauren Darr, partner, Johnson Lambert, shares how electronic-only statutory filing is reshaping statement preparation for insurers.
Jennifer Nuest, SVP, transportation practice leader, Amwins, discusses how rising costs, capacity pressures and legal risks are challenging transportation insurers and how technology is helping to reshape strategies.
F&G CEO Chris Blunt discusses the company’s Retirement Reconsidered survey, which reveals that 70% of Americans over 50 are delaying retirement or even returning to the workforce.
Brent Skiles, SVP of insurance operations, Philadelphia Insurance Cos., shares how insurers can streamline process, leverage technology and balance efficiency with strong underwriting discipline.
Managing General Agents’ Association CEO Michael Keating discusses how MGAs are fueling industry growth, advancing innovation and deepening collaboration across the insurance market.
Sam Haynes, vice president of data analytics at Verisk Maplecroft, discusses how political violence and civil unrest are reshaping insurance portfolios, highlighting new analytic tools such as the first U.S. Strikes, Riots, and Civil Commotion catastrophe model.
The self-described "Insurance Nerds," Nick Lamparelli and Tony Cañas, share the origin, growth, and enduring impact of the Profiles in Risk podcast, a grassroots platform that has educated, entertained, and influenced a generation of insurance professionals through authentic storytelling and passionate industry advocacy.
Stephen Crewdson, senior director of global insurance intelligence at J.D. Power, said rising premiums are challenging small commercial insurers, but service quality, communication and understanding customers’ businesses are now the top factors keeping clients loyal.
Brent Skiles, SVP of insurance operations, Philadelphia Insurance Cos., shares how insurers can streamline process, leverage technology and balance efficiency with strong underwriting discipline.
Nicole Murphy, nonprofit directors and officers liability product manager, Travelers, outlines the key risks facing higher education leaders, including funding shortfalls, donor scrutiny, campus unrest and governance challenges
Kevin Smith, senior vice president, NFP, said that with multimillion-dollar "name, image and likeness” contracts raising the stakes, traditional malpractice coverage is proving inadequate as schools, physicians, and conferences face mounting legal and financial exposures.
Terra CEO and Co-Founder James Benham discusses the power of AI and automation in reducing manual tasks, improving decision-making and reshaping the future of workers’ compensation.
Steven Rodriguez, vice president of Philadelphia Insurance Companies E&S, said that construction has been a standout and now makes up about 60% of their book of business.
Travis MacMillian, president – Americas at Xceedance, said that E&S market participants today are more open than ever to alternative distribution strategies.
David Nelson, executive vice president for E&S Wholesale at Nationwide, said the company’s strategic priorities are enhancing the customer experience, delivering with operational excellence, and managing the business for sustained financial strength and stability.
Reinsurer rankings shift as Swiss Re implements IFRS 17, according to a new Best's Market Segment Report. Chris Pennings, financial analyst, AM Best, discusses the research.
Lisa Miller, founder of the Florida Insurance Roundup podcast, shares how decades of public service and private sector leadership inspired a mission to demystify insurance, champion resilience, and give voice to the issues shaping Florida’s market.
Tanguy Catlin, a senior partner at McKinsey & Co., discusses how insurers can boost performance by integrating AI across operations, focusing on workflow redesign, technology reuse and strong leadership to ensure successful adoption.
EY America's Life and Group Insurance Transformation Leader, Chris Morbelli, breaks down the latest LIMRA-EY Workplace Benefits Report, highlighting how rising costs, a shifting workforce and growing demand for wellness and leave solutions are driving a transformation for brokers, carriers and employers.
Gene Lanzoni, head of enterprise content, Guardian Life, discusses how rising financial stress is driving insurers to offer holistic mental, physical and financial wellness solutions.
David Blades, associate director, AM Best, reflects on the lessons Hurricane Katrina taught the insurance industry, leading to advancements in catastrophe modeling, underwriting practices and public-private partnerships.
George Hosfield, VP and GM of home insurance, and Tanner Sheehan, VP and GM of U.S. claims, LexisNexis Risk Solutions discuss how advanced technology, evolving consumer expectations, and smarter partnerships are reshaping home insurance strategies from underwriting to claims.
Appearing on The State of the Line Podcast, National Council of Compensation Insurance Executive Director and Senior Economist, Stephen Cooper, discusses the most recent U.S. jobs report and how key labor market statistics could potentially impact workers’ compensation insurance.
Sumit Taneja, leader of the AI consulting practice, EXL, highlights how insurers are using generative AI to speed up underwriting, streamline claims and enhance customer service while emphasizing the growing need for strong governance, regulatory awareness and thoughtful integration with legacy systems.
AM Best’s Lee McDonald and Sridhar Manyem discuss the company’s 2026 Student Challenge, which invites college and graduate students to develop creative, real-world solutions to pressing insurance issues, including AI risk, flood coverage gaps, gig economy protection needs. Prizes and industry exposure are offered for the next generation of insurance leaders.
Kevin LaCroix, creator of The D&O Diary and executive vice president of RT ProExec, built a following for the blog nearly 20 years ago during the stock options backdating scandal. With tariffs, regulatory changes and emerging technological risks, there have been no shortage of topics to cover.
Stephen Crewdson, managing director, Global Insurance Intelligence Group, JD Power, explains that rising homeowners and renters rates, especially among bundled customers, continue to fuel switching behavior and pose retention challenges for insurers.
Srini Koushik, president, AI and sustainability, Rackspace Technology, discusses AI’s impact on insurance through enhanced service, efficiency and ethical use in a shifting regulatory landscape.
Paul Kottler, U.S. president of Crawford & Company’s Global Technical Services, discusses how insurers are combining advanced technologies with expert adjusters to manage the growing complexity and cost of large-loss claims.
Steve Bowen, chief science officer, Gallagher Re, discusses the drivers behind 2025’s elevated catastrophe losses and what they signal for future climate and insurance risk.
Michael Balarezo, CEO of Adjusto and wildfire survivor, shares how personal loss, industry frustration, and emerging technology are reshaping the insurance claims process to be faster.
Steve Firko, executive vice president and chief operating officer, Pennsylvania Lumbermens Mutual Insurance, explains how mutual insurers’ policyholder-focused structure, long-term stability and deep industry ties uniquely position them to serve niche markets.
Shannon Woods, chief legal and compliance officer, Mutual Group, discusses the evolving regulatory landscape, the growth of AI, and how strategic partnerships and innovation are helping mutual insurers seize long-term opportunities.
Kimberly Landry, associate research director, LIMRA, discusses how insurers can support employers in boosting benefit satisfaction and addressing changing workforce needs through tailored offerings and improved communication.
Ann Modica, director credit rating, criteria and research at AM Best breaks down the recent decline of the US dollar, its fiscal drivers, and what the volatility means for insurers with global exposure.
Earlier this year, Pinnacle Actuarial Resources and CARFAX announced the release of a new vehicle scoring and automobile pricing tool called the CARFAX Vehicle Build Score (VBS). Pinnacle Senior Consulting Actuary Gary Wang discussed the value of the VBS solution for automobile insurers with AM Best TV.
James Crinnion, Vice President Commercial Surety at Philadelphia Insurance Companies, said that over the last five years, there’s been an explosion in surety-backed letters of credit. “There’s always been a push and pull between the surety industry and the banking industry,” he said.
Mark Friedman, PwC’s U.S. insurance deals leader, discusses the rise in insurance deal value in 2025, driven by strategic megadeals, strong investor interest and sector resilience.
Jason Ott, president, Aon Private Risk Management, discusses how affluent clients are proactively adapting to climate volatility through fortified properties, strategic insurance planning and evolving risk mitigation to safeguard high-value assets.
Kevin Sandelin, senior risk consulting engineer at Allianz Risk Consulting, discusses the growing frequency and severity of wildfires, their impact on industries like agriculture, utilities, and construction, and how insurers and clients can use emerging technologies and mitigation tools to better manage wildfire risk.
Melissa Carmichael, head of U.S. cyber, Beazley, discusses rising AI-driven cyberrisks and supply chain challenges, highlighting the critical role insurers play in strengthening cyber readiness and safeguarding businesses against evolving threats.
Shane Riedman, president of antifraud analytics at Verisk, discusses trends as outlined in recent company reports highlighting the sharp rise in collision severity, evolving subrogation strategies, and the growing role of data and AI in helping insurers improve speed, accuracy, and recovery outcomes.
Dale Porfilio, formerly chief insurance officer of the Insurance Information Institute, discusses the ongoing threat of lightning-related losses, insurer mitigation efforts and shifting storm patterns impacting risk.
Keith Golembiewski, assistant vice president, director of annuity research, LIMRA, discusses strong annuity sales, rising demand for guaranteed income and how insurers are adapting to meet evolving retirement needs.
Erika Melander, head of Nationwide’s national manufacturing practice, discusses how supply chain shifts are creating new risks for manufacturers and how insurance advisers can help manage them.
Stephen Cross, founding partner of McGill and Partners, CEO of McGill and Partners Europe, discusses the U.K. government’s new captive-friendly regulations and their potential to boost London as a top global captive insurance hub.
AM Best Director Edin Imsirovic discusses a new Best's Commentary that finds the insurance industry's crypto-market penetration is limited, but provides opportunities.
Rashid Galadanci, CEO and co-founder, Driver Technologies, discusses how connected car technology and telematics are transforming insurance by improving underwriting accuracy, speeding up claims and reducing fraud.
Tine Simonsen, head of insurance for Continental Europe at Coalition, discusses how rising cyberthreats and digital growth in the Nordics are driving demand for active cyber protection and shaping the future of insurance in Europe.
Zac Townsend, co-founder and CEO of Meanwhile, discusses how Bitcoin is transforming life insurance with fully crypto-denominated policies and new product opportunities.
Karve Chief Underwriting Officer Ken Svean discusses his book, “The Ultimate Guide to D&O Underwriting,” which offers key insights and tools for navigating the evolving directors and officers insurance market.
Mark McGhiey, senior associate vice president of risk management & client services for Nationwide Insurance, says as billion-dollar storms become more frequent, a survey reveals that many businesses are nevertheless opting to reduce coverage in favor of short-term cost savings.
Patrick Foy, senior director of commercial insurance strategic planning, TransUnion discusses how new data reveals dramatic shifts in where and how Americans are relocating, with implications for everything from risk assessment in fast-growing Texas markets to Gen Z-targeted outreach, auto underwriting, and beneficiary tracking.
Steven Crewdson, managing director, insurance business intelligence, J.D. Power, says insurers are failing to tailor service for high-value customers, with cross-channel interactions and clear policy understanding the top satisfaction drivers of 2025.
InnSure Executive Director Charlie Sidoti discusses how NOAA’s decision to archive its billion-dollar climate disaster database could impact insurance affordability and resilience, urging insurers to share data and aid vulnerable communities.
Understanding what is in the environment is how risk managers can approach highly probable, impactful, and often overlooked cyberrisks, said Reid Sawyer, head U.S. cyber risk consulting for Marsh.
AM Best Senior Industry Research Analyst Christopher Graham discusses a new Best's Market Segment Report that finds new cyber supplementing highlights pricing difference by policy type.
NCCI’s Donna Glenn and Christine Pike discuss how their podcast brings concise updates on medical inflation, workforce dynamics and economic indicators to an industry seeking accessible, data-backed insights.
AM Best Associate Director David Blades discusses a new Best’s Market Segment Report that finds social inflation, declining reserve redundancies and rising claims severity continue to vex the MPL segment.
Eric Werkheiser, VP of professional liability and specialty programs at Nationwide E&S and Specialty, said when it comes to specialty insurance, the company will stay open-minded and explore opportunities as they come.
Mark McGhiey, senior associate vice president of risk management & client services for Nationwide Insurance, discusses how rising driver anxiety, staffing shortages and underused safety tech are fueling distracted driving risks, and what commercial insurers can do in response.
Adrian Jones, head of underwriting and specialty retail at Acrisure, offers this advice to executives about social media in part two of a two-part interview: Don’t let anybody else do it. He also suggests a regular cadence of posts, since it improves familiarity and that leads to trust, which generates business.
Adrian Jones, head of underwriting and specialty retail at Acrisure, discusses the strategic importance of “being blessed” with data to help insurers improve their performance on multiple fronts, ranging from customer management to improving efficiency in part one of a two part interview.
AM Best Senior Industry Research Analyst Christopher Graham highlights a new Best’s Market Segment Report that finds market uncertainty, evolving technology and tariffs among the factors affecting the directors and officers segment.
Steve Doire, strategic platform and client adviser, Clearwater Analytics, discusses how insurers are shifting to outsourced management and private markets to boost returns, manage risk and meet growing regulatory demands.
Rahul Khanna, global head of marine risk consulting, Allianz Commercial, discusses the sharp drop in vessel losses, the rise of shadow fleets and how geopolitical instability is reshaping maritime risk and global supply chains.
Tim Nunziata, senior vice president of E&O and cyber at Nationwide Insurance, said that when it comes to cyber, each industry has a nuanced
threat landscape that can’t be painted with this broad brush. It’s important for clients and risk managers to find tailored solutions to meet their company’s needs, he said.
Chris Williams, employment practices liability product manager, Travelers Insurance, discusses how rising mental health awareness is increasing workplace discrimination claims and emphasizes the need for employers to update policies, train staff, and consult legal counsel to keep pace.
AM Best Senior Financial Analyst Josie Novak discusses a new Best's Special Report on Florida's property insurance market, which posted its first underwriting profit in nearly a decade.
Jason Kaminsky, CEO, kWh Analytics, discusses how insurers must adapt models and partnerships to address growing risks in the rapidly changing renewable energy sector.
Patrick Foy, senior director of strategic planning, TransUnion, discusses how evolving consumer behavior, generational shifts in homeownership and climate are reshaping insurance strategies in 2025.
Cyber Intelligence 4U CEO Ariel Evans discusses a book she co-authored, Navigating Supply Chain Cyber Risk, and how third-party cyberrisks are reshaping insurer strategies and risk management approaches.
Matt Sackett, CEO, Doxa Insurance Holdings, shares how actuarial rigor, niche specialization and a forward-looking approach to emerging risks are fueling growth and resilience in today’s competitive MGA landscape.
Chris Hendricks, head of Coalition's incident response, discusses findings from the 2025 Cyber Claims Report, including a drop in ransomware claims, and a surge in business email compromise and funds transfer fraud losses.
Kimberly Landry, associate research director, workplace benefits research, LIMRA and LOMA, discusses the need for greater awareness and education around disability insurance, and how insurers can help protect consumers from unexpected income loss.
In the All Eyes on Economics podcast, Insurance Information Institute Chief Economist and Data Scientist Michel Léonard explores how economics delivers tools that specifically match business needs in today’s uncertain economy.
Melissa Ricco, co-head of Barings’ Structured Credit Investment Team, said that the opportunity in collateralized loan obligations for insurance investors remains compelling.
Dan Byrnes, president and principal at Asset Allocation & Management LLC, said that AAM has built a reputation for delivering customized investment strategies that align with the unique needs of insurers.
Mark Yu, head of Enterprise Capital Strategy at New England Asset Management, said that stress and scenario testing are crucial components of the company’s asset allocation analysis.
Robert Lewis, CEO, INTX Insurance Software, discusses the need for end-to-end policy management systems in property/casualty insurance, and the challenges of legacy software.
Swiss Re Chief Underwriting Officer-Casualty, Laure Forgeron, breaks down short- and long-term forces, including inflation, tariffs, evolving mobility patterns and emerging technologies that are redefining risks and strategies in the $2.2 trillion global motor reinsurance sector.
Sridhar Manyem, senior director, industry relations Americas, AM Best, discusses regulatory sandboxes for testing products, and how AI is being used in pricing and claims. Manyem spoke with AM Best TV at the InsurTech Hartford Symposium 2025.
Eleanor Bragg, a research analyst with Verisk Extreme Event Solutions, discusses how systemic risks including “forever chemicals” litigation, climate change liability and artificial intelligence are reshaping the insurance industry's approach to modeling and mitigation.
Bill Ross, CEO, Insurance Industry Charitable Foundation, discusses key takeaways from the 2025 IICF Philanthropic Roundtable, where industry leaders from 26 insurance organizations explored innovative ways to integrate corporate social responsibility, enhance volunteerism and strengthen community leadership across the sector.
Stephen Crewdson, senior director, J.D. Power, discusses how stabilized switching rates despite high shopping activity signal a shift in consumer behavior, prompting insurers to focus on retention, digital engagement and identifying high-value customers in the auto and homeowners insurance market.
Joan Woodward, who joined Travelers 16 years ago from Goldman Sachs, discusses her role in leading the Travelers Institute's podcast initiative, which explores the intersection of business, insurance and public policy.
Ivan Gonzalez, CEO, Swiss Re Corporate Solutions, said companies are turning to parametric solutions, catastrophe bonds and captive arrangements that offer custom coverage. Gonzalez spoke with AM Best TV at the RIMS RISKWORLD conference, held in Chicago.
William Mule, global risk solutions practice leader, Hub International, discusses how multinational companies are adapting to geopolitical instability, climate change and evolving ESG regulations through proactive risk management and innovative insurance solutions.
Allen Kirsh, head of claims, judicial and legislative affairs, Zurich Insurance, discusses the growing impact of social inflation and legal-system abuse on insurance, and how his team is working with policymakers and industry leaders to champion meaningful tort reform.
Mark Popolizio, vice president of Medicare Secondary Payer compliance at Verisk, discusses key 2025 CMS policy updates, new reporting requirements and strategies insurers can use to stay compliant, reduce costs and mitigate liability under the evolving MSP framework.
AM Best Chief Ratings Officer Ken Johnson unpacks the latest industry outlooks, the growing impact of private equity and offshore reinsurance structures, and the importance of transparency and balance sheet discipline amid evolving global regulations in this repost of the InsuranceAUM.com.podcast.
Brittney McLaughlin, vice president of underwriting for human and social services at Philadelphia Insurance Companies (PHLY), said the landscape for human and social service risks is constantly changing. As the landscape continues to evolve, PHLY remains committed to providing innovative solutions that help human and social service organizations manage risk effectively, she said.
Keith Golembiewski, assistant vice president and head of LIMRA research, said that strong interest rates, market performance and growing awareness among plan sponsors fueled a record-breaking year for pension risk transfer deals.
Dawn Walker, associate director, AM Best, warns of privacy concerns as the sector increasingly adopts automation technologies. Walker spoke with AM Best TV at the InsurTech Hartford Symposium 2025.
Mike Antognoli, Allstate’s mobile product director, said the insurer’s app, which has five million monthly users, uses driving information to tailor risk management and offer cost savings for safe driving. The app also aims to build connections to alert customers to where to park, cheap fuel, and potential weather hazards, he said.
AM Best Director Ann Modica discusses the implications of Federal Reserve Chairman Jerome Powell's decision to hold interest rates steady, and what the bond market is telling us about the future of monetary policy this year.
Aaron Hillebrandt, principal and consulting actuary, Pinnacle Actuarial Resources, said diversification of risk is important—and a great strategy.
Craig Schioppo, global head, Marsh’s Transactional Risk Group, discusses how a resurgence in M&A activity, growing demand for tax insurance, and expansion into emerging markets like Dubai and Latin America drove significant global growth in the transactional risk insurance market in 2024.
Wisconsin Insurance Commissioner Nathan Houdek said the largest risks for property/casualty insurance are tied to severe weather and cyber. Another concern is consolidation in the health market with rising costs pressuring health insurance buyers. Houdek spoke at ReConnect 2025, a reinsurance conference in the Cayman Islands.
Natalie Kelly, head of life & health global underwriting, Swiss Re, explains why long-term health benefits from blood sugar regulators also depend on sustained behavior change, personalized underwriting and the strategic use of behavioral science.
AM Best Director Ann Modica explains that with first-quarter GDP unexpectedly shrinking by 0.3%, the Federal Reserve faces mounting pressure to navigate between curbing persistent inflation and avoiding a deeper economic slowdown.
In a book he co-authored, Sustainability and the Insurance Market: Trends and Challenges, University of Valencia’s Juan Bataller-Grau explores sustainability’s impact on insurance, shaping risk management, responsibility and profitability.
Brandon Nuttall, chief digital and AI officer for Xceedance, said generative AI is becoming more integral for insurance executives’ technology strategy, but moving from “buzz to business value” remains a challenge.
Louis Gritzo, chief science officer and staff senior VP, FM, said a new Science and Technology Center in Luxembourg, set to open in 2027, will drive innovation and risk mitigation in commercial property insurance across EMEA.
Lisa Harris, EVP of natural resources, CAC Specialty, discusses the insurance ramifications of the Keystone Pipeline spill, exploring risk mitigation strategies, environmental liability and how brokers and insurers can better collaborate with energy clients to manage critical infrastructure risk.
Michel Léonard, chief economist and data scientist, Triple-I, explores how inflation, interest rates, third-party litigation and global tariff uncertainty are reshaping underwriting, investment strategies and the industry's protection gap.
Carter Lawrence, commissioner of the Tennessee Department of Commerce and Insurance, said choices and competition in a business-friendly environment will help the insurance market meet the needs of the state’s growing population. Lawrence spoke with AM Best TV at the CIRCA ReConnect Conference in Grand Cayman.
Srdjan Todorovic, head of political violence and hostile environment solutions at Allianz Commercial, discusses key findings from the latest Allianz report, including terrorism trends, sabotage threats and the growing complexity of civil unrest that businesses face worldwide.
Jordan Barker, climate risk specialist, Beazley, discusses how rising economic uncertainty is pushing sustainability lower on the corporate agenda, despite growing exposure to extreme weather and energy transition risks.
Bryan Hodgens, head of research, LIMRA, discusses how economic pressures, remote work trends, and rising employer expectations are transforming benefits brokers into data-driven, consultative partners.
Raju Seetharaman, technology chief, Legal & General America, discusses how AI, data analytics and digital innovation are transforming life insurance by streamlining underwriting, empowering agents and expanding access for customers with complex health profiles.
Climate risk, supply chain and geopolitical risk continue to be major concerns, said Christopher Majka, staff vice president of data visualization, FM. He noted that proprietary cybersecurity data has been introduced into the index this year.
Neil Sprackling, CEO of Life and Health Re US at Swiss Re, explores how breakthroughs in personalized medicine, metabolic health and early disease detection are transforming longevity expectations and underwriting in the insurance industry.
AM Best Associate Director Jason Hopper and Industry Analyst Kaitlin Piasecki discuss a new Best's Special Report that finds eligibility redeterminations after public health emergencies are leading to a mismatch between acuity and rates.
John Dickson, CEO and president of Insurmark, discusses the rising frequency and severity of tornadoes, wind, and hail storms, the evolving insurance landscape, and the critical steps homeowners and agents should take to mitigate risk and ensure adequate coverage.
Aaron Hillebrandt, principal and consulting actuary, Pinnacle Actuarial Resources, said diversification of risk is important—and a great strategy.
In his book, Claims-Made Insurance: The Policy That Changed the Industry, Fisher Consulting President Frederick Fisher explores the intricacies of claims-made policies, offering a comprehensive guide to their evolution, components and challenges.
John Lopes, executive vice president, Nationwide Alternative Ventures and Emerging Markets, said that given the size and scope of the company, Nationwide is one of the most diversified carriers in the U.S.
Wai Tang, senior director, and Matt Tuite, director, both of AM Best, discuss a new Best's Special Report that finds ILS capacity reached a record high in 2024, as did issuance of 144A natural catastrophe bonds.
Suzanne Williams-Charles, CEO of Bermuda International Long-Term Insurers and Reinsurers, discusses how the island is balancing robust regulation with innovation in life and annuity markets.
While cyber is becoming more of an operational risk, increased severity trends and emerging technologies such as AI are raising concerns, said Ziad Kubursi, head of Financial & Executive Liability, Hartford Financial.
Justin Hakes, senior vice president of public affairs, National Association of Mutual Insurance Companies, discusses the success of the Insurance Uncovered podcast, its role in delivering key industry insights, and how it keeps members informed on pressing insurance issues.
Rapid premium rate increases, coupled with pockets of higher reinsurance pricing, also expands the need for higher capital, said Jason Hopper, associate director, AM Best, discussing a new Best's Special Report.
AM Best Director Edward Kohlberg highlights a new Best's Market Segment Report that determines that economic conditions, regulatory frameworks and engaging products will reshape the future of the Life/Annuity market.
David Meinen, CIO at SIAA, discusses how artificial intelligence, predictive analytics, and high-quality data are revolutionizing independent insurance agencies, enabling them to enhance customer relationships, improve underwriting, and drive business growth in an increasingly competitive market.
With over 14,000 YouTube subscribers and 21,000 LinkedIn connections, Prasath Parthiban, host of the PNC Insurance Helpline, is on a mission to make insurance concepts accessible by empowering small business owners, newcomers, and industry professionals alike through short, insightful, and non-monetized videos.
Paul Giliberto, head of management liability, private non-profit, Zurich Insurance, discusses the evolving private directors and officers insurance market, highlighting increased competition, the impact of M&A slowdowns and emerging risks such as rising bankruptcies and interest rate pressures. Giliberto spoke with AM Best TV at the PLUS D&O Symposium in New York City.
Justin Baker, AVP of life insurance, LexisNexis Risk Solutions, discusses how the industry is leveraging electronic health records and real-time health insights to enhance underwriting, improve risk assessment, and expand access to coverage.
AM Best Senior Director Jacqalene Lentz outlines a new Best's Market Segment Report that finds despite weather-related catastrophe losses, overall P/C underwriting results improved in 2024, and AM Best expects the industry to build on its solid rebound in 2025.
Franklin Manchester, global insurance strategic advisor at SAS Institute explais how insurance leaders face a growing ethical responsibility to close the global protection gap — leveraging AI, data, and technology to build resilient communities while overcoming trust barriers and adapting to climate-driven risks.
AM Best Industry Analyst Helen Andersen discusses two new Best's Special Reports on property/casualty and life/health 2024 rating trends.
Marc Adee, CEO, Crum & Forster, chronicles the company's two centuries of history, from insuring New York City buildings to delivering diverse risk solutions.
Sam Melamed, CEO of NCD, discusses the evolving landscape of standalone dental insurance, exploring how shifting regulations, consumer preferences, and Medicare and ACA dynamics are influencing market opportunities and challenges.
Joseph Zazzera, director, and Jon Housel, senior financial analyst, both of AM Best, discuss a new Best's Market Segment Report that finds capitalization and liquidity remain strong, but the segment faces several earnings headwinds.
Brad Medd, chief technology officer, Zinnia, discusses how rising annuity sales are driving the need for digital transformation, pushing insurers to embrace real-time technology for a smooth customer-centric experience.
Bob Frady, co-founder of PropertyLens, discusses how infrastructure spending, data analytics, and insurtech startups are transforming risk modeling, enabling insurers to move from broad-stroke rating to hyper-local assessments.
Robert Hartwig, University of South Carolina, discussed how tariff expansion could impact the insurance industry: from rising costs to supply chain disruptions; and offers strategies to address these challenges.
Nationwide risk management leader Mark McGhiey discusses the results of a survey that finds 50% of mid-market businesses struggle with economic uncertainty, supply-chain constraints and regulatory changes, highlighting gaps in preparedness.
AM Best Associate Director Jason Hopper outlines a new Best's Special Report that finds about a dozen US L/A companies ceded business to sidecars at year-end 2023, tripling since 2021.
Bonnie Guth, head of government affairs at Munich Re, and Stef Zielezienski, chief legal officer, APCIA discuss a new survey by their two organizations highlighting growing consumer concerns over excessive lawyer advertising, nuclear jury awards, and hidden third-party litigation funding—factors that experts say are driving up insurance costs and the price of everyday goods.
Eugenio Gonzalez, insurance leader at Plug and Play Ventures, discusses how insurers are leveraging open-source AI models to enhance transparency, reduce costs, and customize solutions, while innovation hubs are bridging the gap between startups and the insurance industry.
Hosted by Nick Hoadley, CEO of Insurance Search, the Insurance Coffee House Podcast is an insightful and conversational interview program with leaders in the insurance and insurtech sectors. It includes practical management tips and advice.
Xceedance Executive Vice President Sachin Kulkarni discussed insights on the evolving excess and surplus insurance market, highlighting the impact of automation, technology, reinsurance, bundling and talent growth on the future of the sector.
AM Best Senior Industry Research Analyst Christopher Graham and Senior Financial Analyst Robert Valenta discuss a new Best's Market Segment Report that finds infrastructure projects lead the increase in public spending.
Patrick Foy, senior director of strategic planning, TransUnion’s insurance business, discussed what drove the surge in auto and property insurance shopping, insurer challenges from cat losses and rate limits, and how data targets top prospects.
Tony Canci, Vice President of Underwriting - Human Services at Philadelphia Insurance Cos., said the home health care sector is poised for growth in the years ahead.
Beau Bishop, senior vice president of catastrophe operations, Charles Taylor, discusses the unique complexities of wildfire recovery, the critical role of insurance in safeguarding properties, and how agents can use these events as educational tools.
Robert Passmore, department vice president, personal lines, American Property Casualty Insurance Association, discusses how new tariffs could raise costs and disrupt supply chains for P/C insurers, and how strategies could ensure stability.
AM Best Industry Relations Associate Director Dawn Walker outlines a new Best’s Market Segment Report that finds a preponderance of insurers expects DUAE-sourced premium to continue to grow.
Charlie Sidoti, executive director, InnSure, discusses California's state-backed bailout of the Fair Plan, its impact on the insurance market, and why integrated innovation, community-focused reinsurance, and systemic reform are crucial for building long-term wildfire resilience.
AM Best Director Ann Modica highlights a new Best's Special Report that finds GDP continues to grow, and the likelihood of a recession has declined markedly.
A panel of insurance marketing experts discuss innovative and evolving applications of data and predictive analytics in marketing and highlight key metrics and ratios that insurance marketers should understand to communicate effectively with their peers and stakeholders. This was a joint presentation of the Insurance Marketing & Communications Association (IMCA) and AM Best. (Event Date: January 24, 2025)
Jackie Quintal, managing director of Marsh’s Financial Institutions Group, and We2Sure Co-founder Simon Wigzell discuss carbon credit fraud and a new insurance facility to help businesses address the growing risk of fake carbon credits.
AM Best Director Matt Tuite discusses the factors fueling the record-breaking expansion of the insurance-linked securities market, including strong investor returns, rising Cat bond issuance, and evolving investor appetite. Tuite spoke with AM Best at the Artemis ILS conference in New York.
ZestyAI CEO Attila Toth discusses a company analysis of 1 million homes that reveals nearly half of U.S. properties include multiple structures, uncovering a substantial gap in homeowners insurance coverage.
Alyssa Gittleman, director and head of consulting and customer relations for Conning Insurance Research, discusses the podcast she hosts, “Beyond the Text,” which explores the program market with Conning experts.
Andrew Correll, senior Director of cyber insurability at SecurityScorecard, discusses key findings from a recent report on cybersecurity vulnerabilities in the insurance industry's supply chain, highlighting the alarming rate of third-party breaches and the urgent need for stronger risk management
James Bannister, head of global war and terrorism at Lockton, discusses how, as businesses reassess terrorism risks, insurers are refining risk models and how heightened awareness may boost demand for tailored coverage.
Grant Nichols, senior vice president at CAC Specialty, discusses the growing financial and legal risks of “forever chemical” exposure, evolving regulations, and proactive risk management strategies to mitigate liability.
WTW Head of Crisis Management North America’s Fergus Critchley discusses how general liability, active assailant and terrorism insurance markets face scrutiny after the New Year’s Eve attacks, and the growing need for proactive risk management.
Tarique Nageer, terrorism placement advisory and leader, property practice at Marsh, discusses the implications of recent high-profile incidents in New Orleans and Las Vegas on the terrorism insurance market and how businesses and insurers are adapting to an unpredictable global threat landscape.
PwC U.S. Insurance Deals Leader Mark Friedman discusses expectations for strong deal activity this year, driven by investor interest, stabilized interest rates, potential regulatory easing post-elections and a private equity backlog of exits.
Matt Reilly, head of insurance solutions for Conning, discusses key findings from the company’s annual Investment Risk Survey, revealing how P/C and life insurers are adapting their investment strategies amid evolving economic and market challenges.
Robert Feldman, cofounder, president, CEO, WOWS Insurance Services, discusses how the Los Angeles wildfires highlight the increasing challenges insurers face in high-risk areas and innovative strategies to mitigate risk and stabilize the market.
Stephen Crewdson, senior director at J.D. Power, discusses key findings from the latest Loyalty Indicator & Shopping Trends Report, including record-breaking shopping and switching rates and how insurers are responding to increased competition.
David Blades and Christopher Graham, AM Best, discuss the latest inland marine Insurance trends, including pet insurance profitability and travel insurance recovery.
Yassir Albaharna, managing director and group CEO, Trust Re, said MENA and African insurers should not be quick to expand internationally, given opportunities within local markets. Albaharna spoke with AM Best TV at the Global Insurance Forum, Miami.
Tobias Grimm, chief climate scientist, Munich Re, discusses the $140 billion insured losses from natural disasters in 2024, the rising impact of climate change, and the industry's role in building resilience and addressing the protection gap.
Mike Allee, president, Universal Conversion Technologies, discusses a recent joint report by LIMRA, Equisoft and UCT showing that 66% of U.S. life insurers and 46% globally are not prepared for AI implementation.
Shanna McIntyre, co-founder and chief data officer at Delos, discusses her company's innovative approach to wildfire risk modeling, leveraging advanced data and technology, and its commitment to providing stable homeowners insurance coverage in wildfire-prone areas.
Divya Sangameshwar, an insurance expert and spokesperson for ValuePenguin, discusses a company report that shows while auto insurance premiums are rising for the seventh year in a row, this year rates are expected to increase only 7.5% compared with 16.5% in 2024.
Tom Varney, regional manager for Allianz Commercial, discusses the top global business risks for 2025 as identified in Allianz’s Risk Barometer, including cyber threats, business interruption, and climate-related events, highlighting the importance of resilience and collaboration among insurers, brokers, and businesses.
Prince Varma, global vice president, and Ben Blanquera, VP of technology and sustainability, both of Rackspace Technology, discuss a recent survey.
AM Best's Aaron Li discusses a new special report that examines how the rapid adoption of new energy vehicles in China is affecting motor insurers and the motor insurance market.
Ryan Stokes, client partner at Xceedance, discusses how AI and virtual tools are revolutionizing the property claims process, enabling faster damage assessments, fraud prevention, and quicker payouts.
Julia Borman, a leading expert at Verisk, discusses the company’s innovative wildfire catastrophe model, its alignment with new California regulations, and its role in enhancing risk assessment, pricing, and resilience planning for insurers facing the escalating challenges of wildfire activity.
Jeff Beligotti, head of long-term care solutions at New York Life, discusses the growing need for long-term care insurance, the financial hurdles aging Americans encounter and the vital role advisers play in addressing these challenges.
Jarrod Schlesinger, global head of financial lines and cyber at Allianz, discusses the rising demand for directors & officers insurance amid escalating regulatory scrutiny, geopolitical instability and risks associated with AI and litigation funding.
AM Best senior analytical staff explore common types of insurance ABS transactions and the key assumptions behind their ratings. They will discuss the default rates applied to the transactions’ collateral, the asset-dependent recovery rates, the use of credit substitution and enhancement on collateral and rated securities and the determination of the implied rating of the securities by applying AM Best’s Idealized Issue Default Matrix.
Fred Smith, EVP of mining and metals at CAC Specialty, discusses the potential of Arkansas lithium discovery, the operational and environmental risks in lithium extraction, and how insurance markets can adapt to support the growing U.S. electric vehicle battery production industry.
Cowbell Founder and CEO Jack Kudale discusses how recent cyber threats expose digital vulnerabilities and how predictive modeling and AI-driven, real-time risk assessment enable insurers to adapt strategies for managing non-malicious cyber events.
Eric Werkheiser, vice president, Nationwide, said the market is moving toward more specialized products and innovative delivery methods, including embedded insurance solutions and unique fronting arrangements. Werkheiser spoke with AM Best TV at Target Markets' 24th Annual Summit, held in Scottsdale.
Bryan Hodgens, senior vice president and head of research at LIMRA, explores the sector’s increasing priority on growth, with a focus on closing the protection gap that affects more than 100 million Americans.
AM Best Associate Director David Blades and Associate Analyst Bryan Raber highlight a new Best's Market Segment Report that finds price adequacy and risk selection initiatives manifested in notably improved underwriting results during the first half of 2024.
Verisk CEO Lee Shavel highlights how the insurance industry is becoming more resilient in the face of catastrophic events, addresses the protection gap, and explores how generative AI will transform underwriting.
Western & Southern Financial Group Chairman, President and CEO John F. Barrett reviews his 37-year tenure, during which a regional insurance company transformed into a diversified financial services enterprise.
AM Best Associate Director David Blades and Senior Industry Analyst Chris Graham discuss a new report on the U.S. commercial auto insurance segment, which experienced a $5 billion net underwriting loss in 2023 and worsening conditions in early 2024.
Michael Wakefield, EVP, CAC Specialty, discusses how rising M&A activity is impacting pricing, coverage and new insurance solutions, including warranties, tax, and contingent risk insurance.
Michael Parcelli, senior vice president, Xceedance, said the flexible nature of managing general agents allows them to embrace technology, which is now an essential ingredient to remaining competitive. Parcelli spoke with AM Best TV at Target Markets' 24th Annual Summit, held in Scottsdale.
Mick Moloney, partner, Oliver Wyman, cited the growing influence of private capital and the evolution of asset management-led insurance models. Moloney spoke with AM Best TV at the Global Insurance Forum in Miami.
Dr. Mathilde Jakobsen and Tim Prince, both of AM Best, said the reinsurance sector has maintained a positive outlook, upgraded from stable earlier in the year, primarily driven by performance. Both spoke with AM Best TV at AM Best's Europe Insurance Market & Methodology Briefings – London.
Mark Garrett director of insurance industry analytics, JD Power, discusses the growing focus on digital enhancements in the insurance industry, particularly in claims processing.
Louisiana Insurance Commissioner Tim Temple highlighted four key property insurance reforms passed in his first regular session. Temple spoke with AM Best TV at the Joint Industry Forum 2024 in Miami.
Joshua Landau, president, International Insurance Society, said data is an increasingly valuable currency in the industry as companies seek to build larger datasets to support analytical capabilities. Landau spoke with AM Best TV at the Global Insurance Forum in Miami.
Greg Carter, managing director, analytics, EMEA & Asia Pacific, said national scale ratings in markets including India, Indonesia, Philippines, and Vietnam, aim to better differentiate between companies within specific territories. Carter spoke with AM Best TV at the 20th Singapore International Reinsurance Conference.
Jess Fung, managing director and North American cyber analytics lead at Guy Carpenter, and Emma Ye, At-Bay vice president of risk, discuss a joint research report that explores the limitations of cyber catastrophe modeling for small- and medium-size businesses.
Senior AM Best analysts discuss 2025 outlooks and key factors that will impact the insurance industry in the coming year.
Stan Smith, CEO of Gradient AI, explores the transformative impact of generative artificial intelligence on the insurance industry, predicting innovations in claims management, underwriting, and operational efficiency for 2025 and beyond.
AM Best Financial Analyst Helen Andersen reviews a new report that shows higher premiums and lower combined ratios have improved the results of personal auto insurers in the United States.
Chris Williams, EPL Product Manager at Travelers, warns employers about the heightened risks of employee-related claims during the holiday season, including issues around holiday parties, temporary staffing, and workplace stress, and provides practical steps to manage these exposures through careful planning and up-to-date EPLI policies.
Rob Schimek, group CEO, Bolttech, said the insurtech firm, which operates on four continents, emphasizes collaboration as crucial to addressing the global protection gap. Schimek spoke with AM Best TV at the Global Insurance Forum in Miami.
Michel Leonard, chief economist and data scientist, Insurance Information Institute, acknowledged concerns about rising premiums while emphasizing insurers' responsibility to maintain solvency. Leonard spoke with AM Best TV at the GIF conference.
Global medical costs are projected to rise by over 10% in 2025 for the third consecutive year, driven by advancements in medical technology, rising pharmaceutical prices, and increasing reliance on private health care. Linda Pham, global health and risk leader at WTW, discusses regional variations, the growing role of mental health services, and strategies for insurers and employers.
Phillip Maddox, a workers’ compensation senior consultant with Nationwide, highlighted the company’s long history of success with workers’ compensation, emphasizing the importance of embracing technology.
Patrick Foy, senior director of strategic planning, TransUnion, discusses the recent surge in auto insurance shopping activity, driven by increased advertising and competition in auto and property lines, marking record highs in consumer inquiries.
Kim Mobley, a partner in business advisory services, and Matthew Kroniske, managing director, both of Johnson Lambert, delve into the evolving intersection of technology, regulation and insurance. They share their expertise on leveraging emerging technologies that enhance audit processes, manage cyberrisks and navigate regulatory landscapes without losing a client-focused approach.
Marc Adee, CEO, Crum & Forster, is positioning his book as a cautionary tale for the next generation of insurance professionals. He hopes to prevent the cyclical pattern of learning and forgetting industry lessons.
Dana Sutton, flood practice lead at NFP, discusses the evolving landscape of flood insurance, the misconceptions surrounding flood risk, and how both the private market and National Flood Insurance Program can work together.
Andrea Keenan, EVP and chief strategy officer, AM Best, expressed confidence in the sector's adaptability, citing its evolution from horse-and-buggy to automobile coverage. Keenan spoke with AM Best TV at the Global Insurance Forum in Miami.
Chris Blunt, CEO of F&G Annuities and Life, discusses the findings of the company's new 'Risk Tracker' that shows events of the past year have impacted views on retirement and risk for the year ahead. Notably, it found that 80% of U.S. investors continue to cite inflation as the top concern.
Michael Bacon, Head of US L&H Globals and US L&H Transaction Origination, Swiss Re, discussed tailored transactions.
Angela Yeo and Mahesh Mistry, both of AM Best, outline the increasingly complex nature of global risk assessment in the insurance industry. Both spoke with AM Best TV at AM Best's Europe Insurance Market & Methodology Briefings – London.
Tresa Stephens, regional head of cyber at Allianz Commercial, discusses the surge in large cyber claims, attributing it to increased data breaches, evolving AI-powered threats, and the growing need for robust cyber hygiene practices.
Jose Berenguer and Romeo Berti, both of AM Best, said insurers' adoption of IFRS-17 has not substantially altered the fundamentals of operating performance. Both spoke with AM Best TV at AM Best's Europe Insurance Market & Methodology Briefings.
Matt Zender, Senior vice president, workers’ compensation strategy at AmTrust Financial Services, discusses key findings from the 2024 Restaurant Risk Report, revealing the substantial impact of back injuries, burns, and strains caused by work-related insurance claims.
Todor Kitin and Morgane Hillebrandt, both of AM Best, said growing economic uncertainty and escalating geopolitical conflicts have led to an anticipated increase in the frequency of cyberattacks.
Edin Imsirovic, director, AM Best, said improvements in computing and data availability have created critical mass for AI development. Imsirovic spoke with AM Best TV at AM Best's Europe Insurance Market & Methodology Briefings – London.
Stephen Crewdson, senior director at J.D. Power, details the firm’s latest Loyalty Indicator & Shopping Trends report, conducted in collaboration with TransUnion. The report provides an overview of insurance shopping and loyalty behavior. The third quarter started slowly before rebounding in August and September.
Anthony Silverman and Konstantin Langowski, both of AM Best, said that while IFRS-17 represents a significant step forward in insurance reporting, the industry can expect continued refinement and development in reporting practices.
Marcus Daley, technical co-founder of NeuralMetrics, explores the transformative impact of autonomous AI assistants in insurance, highlighting how these advanced agents enhance efficiency, adapt to complex tasks and empower underwriters to improve risk assessments and customer engagement.
Greg Carter, managing director, analytics, EMEA & Asia Pacific, AM Best, said the turning point came as rising interest rates improved investment returns. Carter spoke with AM Best TV at AM Best's Europe Insurance Market & Methodology Briefings.
Danny Maleary, CEO of Pro MGA Global Solutions, discusses the company’s adaptive journey in response to the dynamic MGA market, focusing on growth, innovation, and a global expansion strategy.
IBM Global Insurance Director Mark McLaughlin discusses findings from a recent report on how generative AI is reshaping the insurance industry, highlighting both opportunities and challenges based on insights from 1,000 C-suite executives and 4,700 customers across 23 countries.
Stefan Holzberger and Anthony Diodato, both of AM Best, said mutual insurers are de-risking portfolios, pursuing rate adequacy, adjusting terms and conditions, and implementing inflation-adjustable metrics in pricing algorithms. Both spoke with AM Best TV at NAMIC's 129th Annual Convention, held in Denver.
Matt Stull, director of data science for LexisNexis Risk Solutions, discusses insights from a 2024 Life Insurance Mortality Risk Management Study that examines how integrating medical and behavioral data can improve mortality assessments, expand accessibility, and reduce underwriting biases for underserved populations.
A panel of insurance technologists gathered by AM Best TV at the WSIA Annual Marketplace in San Diego said workers whose roles are being changed or eliminated by technology could be retrained and upskilled to fill other, particularly relationship-focused, positions in the industry.
A panel gathered by AM Best TV at the WSIA Annual Marketplace in San Diego said a shift toward longer-tail claims represents a change in the cyber insurance landscape to which the industry is still adjusting.
Peter Drogan, SVP and chief actuary, Amica Mutual Insurance Co., explains that aided by advanced analytics, AI-driven tools, and an increasing need for long-term risk management, today’s actuaries are adapting to powerful new methods that enhance their expertise.
AM Best Senior Industry Research Analyst David Lopes discusses a new Best's Special Report that finds, despite the rise in holdings, investment income declined for a second straight year.
Scott Smidlein, head of the energy practice at HSB, said the sector has to be aware of policy lag and not rely on outdated forms to keep up with a quickly evolving risk landscape.
Stewart Foley, host of the InsuranceAUM podcast, discusses how he delves into the latest trends, challenges and opportunities to provide listeners with perspectives and practical advice in the world of insurance asset management.
Chantal Roberts, CMR Consulting, discusses her new book "Once Upon a Claim, Fairy Tales to Protect Your Assets." The book incorporates insurance principles into familiar fairy tales, nursery rhymes and fables to make complex concepts more accessible.
AM Best TV hosted a panel discussion about insurers developing strategies and confronting challenges while launching evolving technology in the industry.
AM Best TV hosted a panel discussion about evolving technology that’s proven to be innovative, revolutionary and successful in the industry.
AM Best TV hosted a panel discussion about the development of cutting-edge technologies and their integration into the insurance industry.
A panel gathered by AM Best TV at NAMIC's 129th Annual Convention said a new report identifies how legal system abuse and social inflation affect different regions. The report emphasizes the importance of integrated claims, underwriting, and actuarial functions in high-performing mutual insurers.
Stephen Crewdson, senior director of insurance business intelligence at J.D. Power, details the findings of a new survey that shows “great trends” when it comes to the happiness of independent insurance agents.
AM Best Senior Industry Analyst Christopher Graham discuss a new Best's Special Report that finds private insurer appetite for flood risks appears to be sluggish.
David Self, chair, Cayman International Reinsurance Companies Association said “there's a huge opportunity coming out of the life and annuity space in the US”. André Ebanks, minister for financial services and commerce, minister for investment innovation and social development, and deputy premier of Cayman Islands went on to say that “Cayman is committed to a very robust regulatory regime that drives deals”.
Marc Rothchild, SVP and Head of Claims at Xceedance, explained that his team is fully equipped to understand the guiding principles of artificial intelligence.
A panel at the WSIA Annual Marketplace in San Diego said private insurers are assessing their appetite for flood risk due to changing climate conditions and increased frequency of severe storms.
Rik Goyton, SVP for CAC specialty says that significantly rising defense costs, increased SEC activity and a resurgence of securities class action filings are a few of the most top-of-mind trends impacting the D&O market so far in 2024.
AM Best Associate Director David Blades and Senior Industry Analyst Christopher Graham discuss a new Best's Commentary that finds newly formed take carriers will be severely tested as affordability and availability issues will be exacerbated.
Neil Sprackling, CEO US Life and Health, Swiss Re says that despite projected excess mortality continuing in the US for the next 10 years, COVID-19 pandemic-linked excess mortality may disappear by 2028, reverting to pre-pandemic expectations.
Karen Clark, co-founder and CEO of risk modeler KCC, said that while Hurricane Milton and accompanying tornadoes ravaged Florida significantly, the results could have been much worse.
A panel gathered by AM Best TV at the WSIA Annual Marketplace conference in San Diego said the excess and surplus sector has evolved from being perceived as a market for hard-to-place risks to becoming a staple in the insurance community.
Marcia Blanco, head of financial lines at Munich Re Specialty, said as a result of regulatory claims, defense costs for directors and officers have skyrocketed.
AM Best Financial Analyst Lauren Magro discusses a new Best's Market Segment Report finding that P/C mutuals report surplus growth, and pursue rate adequacy amid another year of increasing severe storm frequency.
Dan Law, head of the cyber practice at HSB, said small and medium enterprise businesses have been slow to adopt cyber protection into their coverage, however insurers need to focus on bringing a product to that market that makes sense.
Neil Alldredge, president & CEO, NAMIC, said that while new mutual formations are rare, existing companies are expanding into new lines of business and geographic areas. Alldredge spoke with AM Best TV at NAMIC's 129th Annual Convention, held in Denver.
The panel also addressed potential pitfalls of innovation, such as the challenges of pricing products before knowing their true cost and the need for strong balance sheets to support innovative ventures. Panelists spoke with AM Best TV at the WSIA Annual Marketplace in San Diego.
Bryan Hodgens, senior vice president and head of research, LIMRA and LOMA, said annuity sales surged 19% to $215.2 billion, with fixed index and registered index-linked annuities setting new records, according to LIMRA’s U.S. annuity sales survey.
Aaron VanTuyl and Matt Baide, podcast hosts, Washington State Office of the Insurance Commissioner, discuss the "OIC Answers" podcast that seeks to inform Evergreen State consumers on a wide range of insurance topics.
Gary Wang, senior consulting actuary for Pinnacle Actuarial Resources, said that the issue of fairness is a very common social discussion that’s taking place across a wide spectrum of industries, and insurance is part of that.
AM Best Director Doniella Pliss highlights a new Best's Market Segment Report that finds growing health care utilization and medical inflation are expanding the role of health reinsurance.
Juan Andrade, president & CEO, Everest Group, said concerns about social inflation and legal-system abuse are contributing to increased severity in claims across the industry. Andrade spoke with AM Best TV at the Rendez-Vous de Septembre conference in Monte Carlo.
NCCI chief actuary Donna Glenn reports strong profitability in workers' compensation as frequency of claims continues to decline, severity aligns with wage growth, and medical inflation remains moderate.
David Blades, associate director, and Christopher Graham, senior industry analyst, both of AM Best, highlight a Best’s Market Segment Report that finds profits continued in 2023 and conditions are right for another strong year in 2024.
Patrick Baker, private directors and officers product manager at Travelers, discusses the different exposures private companies face compared with their publicly traded counterparts.
Karen Clark, founder of catastrophe modeler KCC, discusses the amount of insured losses so far in 2024, about $40 billion of which she attributes to convective storm activity.
Tobias Grimm, head of climate advisory and natural catastrophe data with Munich Re’s climate change solutions department, says that the first half of 2024 has been a costly year for P/C insurers due to increased tornado activity and regional weather extreme events.
Andrew Johnston, global head of insurtech for Gallagher Re, details the findings of a recently published report about levels of investment and funding for insurance-related technology including artificial intelligence.
Firmly established for years as the leading open-invitation market presentation event at the Rendez-Vous in Monte Carlo, this briefing is a unique opportunity for reinsurance market insight and opinion ahead of busy bilateral meeting schedules. Key discussion points include: AM Best's trend analysis on the global reinsurance sector; if pricing discipline will be maintained; AM Best’s global reinsurance outlook and the drivers of future rating movements; the impact of alternative capital and ILS; and key rating issues impacting all reinsurers.
Dawn Walker of AM Best was recently interviewed on the Insurance Nerds podcast, on which she detailed advantages of a Performance Assessment for delegated underwriting authority enterprises in providing transparency.
Jessica Ruggles, corporate vice president, New York Life, said baby boomers are more likely to have savings than other generations, while younger workers, including Gen Z, are recognizing the importance of early planning.
In his book, The Anxious Salesman, sales author J. Sheldon Snodgrass provides a roadmap for insurance professionals to replace their inner critic with empowering dialogue, fostering sales success and inner peace.
Insurtech Building Blocs, a podcast hosted by AgencyBloc CEO Tim Robinson and CTO Cory Schmidt, takes a macro look at health benefits and senior market Insurtech industry happenings.
Chris Myers, enterprise capital strategist at New England Asset Management, said risk-adjusted returns and benchmarks can be very effective.
Jamie Langes, vice president of environmental underwriting for Philadelphia Insurance, said that per- and polyfluoroalkyl substances, known commonly as PFAS, represent an opportunity for significant losses for companies in a wide range of industries.
Mike Marks, AVP, emerging markets, Nationwide Excess & Surplus and Specialty, says that his dedicated team brings the capability to Nationwide to explore and discover emerging and unmet customer needs to address these unique opportunities.
Manish Khetan, president and co-founder of Xceedance, said that the speed at which artificial intelligence technologies have grown has allowed insurance companies to evolve faster than ever.
Neil Sprackling, CEO Life & Health Reinsurance US, Swiss Re, said that coming out of the worst stages of the pandemic, excess mortality stood at around 4%.
Tim Antonelli, head of insurance multi-asset strategy for Wellington Management, says insurers should refocus their investment efforts to be more dynamic and opportunistic.
Matt Daly, managing director, head of Conning North America said that the higher interest rate environment has been impacting clients.
Sabrina Hart, president and CEO, Munich Re Specialty - North America, said that risk taking is a core competency for the company.
Yan Jin, professor of crisis communication leadership at the Grady College of Journalism and Mass Communication; Curt Harris, a professor in the College of Public Health and director of the University of Georgia’s Institute for Disaster Management; and James Carson, head of the Department of Insurance in the Terry College of Business and a professor of risk management, discuss a new graduate certificate in Crisis, Risk, and Disaster Communication. The program is designed to equip students with the skills necessary for proactive readiness, and to address complex communication challenges in disaster situations.
Stephen Crewdson, senior director, insurance business development at J.D. Power discusses the latest report that shows the highest quarterly shopping/quote rate for private passenger auto insurance since the company’s loyalty indicator shopping trends (LIST) has been published.
AM Best's analytical captive team and industry experts discuss the recent performance of the captive sector and other alternative risk transfer (ART) instruments.
Lee Shavel, president and CEO, Verisk Analytics explains how there is a need in the insurance industry to accelerate and expand both the data and insights that data generates.
Lauryn Kothavale, vice president, insurance research, Conning, said growth in the MGA market is driven by talent, technology and specialization. Fronting companies play an increasing role, while Lloyd's remains the top capacity provider.
Industry experts discuss insurance marketers’ use of artificial intelligence in their jobs and organizations, where AI fits into marketing workflows and how the various platforms meet insurance marketers’ needs.
Marcia Blanco, head of financial lines, Munich Re Specialty North America, explains how after years of working from home due to a pandemic, employers are mandating that employees return to the office, leading to a host of workplace risks.
AM Best Associate Director Jason Hopper outlines a new Best's Special Report that finds holdings of private structured securities (non-MBS) have nearly quadrupled since 2013.
Discussing the recent Crowdstrike cyber incident, David Derigiotis, president of brokerage and head of insurance at Flow Specialty, said “carriers are willing to stomach a true system failure and not an actual malicious attack … intended to cause harm.”
Jeff Dellinger, the author of The Handbook of Variable Income Annuities, and Bruno Caron, a financial and actuarial professional, discuss the guaranteed lifetime withdrawal benefit and other life insurance options with a financially successful retirement in mind.
Bryan Davis, president, VIU by HUB, discusses how embedded insurance opens up new distribution channels and broadens market reach, tapping into customer bases that might not actively seek out insurance.
Subodh Archaya senior scientist at Extreme Event Solutions for Verisk says growing conditions have been favorable for US farmers thus far in 2024 spelling good news for consumers as well as crop insurers and reinsurers.
AM Best Associate Director Connor Brach outlines a new Best's Market Segment Report that finds consolidation continues as companies seek to improve underwriting results through scale and geographic diversification.
Tim Fleming, CEO of The Mutual Group, discusses issues facing mutual insurers and how technology platforms are helping to level the playing field for smaller companies to become more competitive.
Boxx Insurance USA President Hilario Itriago discusses the need for robust cybersecurity measures and cyber insurance to protect small and midsize businesses from financial and reputational damage.
Please join senior AM Best research staff and industry experts as they delve into the current state of the cyber insurance industry.
Kellie Benson-Bray, member relations director of workplace benefits, LIMRA, discussed how U.S. workplace benefits sales results were mixed in 2024’s first quarter, and how demand for broader benefits packages are expected to grow in the next several years.
Behind the headlines, a podcast hosted by Insurance Insider senior reporter Sam Casey, covers events shaping the London insurance and reinsurance markets, from cat events to disasters such as the Baltimore Key Bridge collapse and the lingering impacts of a pandemic.
In his book, The Cyber Insurance Imperative, David Finz, first vicepresident, Alliant Insurance Services, discusses the evolving cyber-threat environment and the need for risk transfer solutions to manage organizations’ financial and reputational impact of those incidents.
In his book, The Cyber Insurance Imperative, David Finz, first vicepresident, Alliant Insurance Services, discusses the evolving cyber-threat environment and the need for risk transfer solutions to manage organizations’ financial and reputational impact of those incidents.
Darcie Truttmann, Senior Consulting Actuary for Pinnacle Actuarial Resources, said that new guidance from the American Property Casualty Insurance Association could impact the working relationship between actuaries and auditors.
Kristina Talkowski, Nationwide’s leader of middle market commercial lines, discusses a new study that shows company drivers are facing increased distractions and safety risks on the road.
Please join senior AM Best research staff and industry experts as they delve into the current state of the cyber insurance industry.
Stothard Deal, vice president, strategic planning, TransUnion insurance business, discusses a recent report that shows U.S. consumers who shopped for auto insurance increased by 6% in the first quarter, year-to-year.
Mark Moitoso, executive vice president, risk practices leader, Lockton Cos., discusses how increased competition and the current economic and geopolitical climate are impacting the U.S. commercial insurance market.
KWh Analytics CEO Jason Kaminsky said the solar industry’s ongoing expansion, supported by the Inflation Reduction Act and the growing need for clean energy, emphasizes the necessity for detailed data, asset protection and collaboration among industry leaders.
Rich Sega, global chief investment strategist for Conning, examines the numerous geopolitical risks around the globe and opines on how insurance asset managers should react.
AM Best Associate Director David Blades and Senior Industry Analyst Christopher Graham discuss a new Best's Special Report that finds significant uncertainty remains about claims still open from accident years 2017-2020 and their impact on future profitability.
Will Strydom, senior account engineer with Travelers Insurance, national property unit, discusses prepatory steps businesses can take pre-hurricane, and how agents and brokers can assist.
Insurance Information Institute Chief Insurance Officer Dale Porfilio said the U.S. property/casualty industry saw a minor uptick in underwriting performance in 2023, while personal lines persist as the main source of underwriting losses.
Personal Risk Management Solutions President and CEO Celia Santana discusses the new PRMSbyHerSide program that addresses the insurance needs of women, including heads of household and those experiencing life-altering transitions like divorce and widowhood.
James Finucane, senior economist for Swiss Re, details the findings of a new report that shows the US Property & Casualty sector in 2024 registered its best first-quarter underwriting results in more than 15 years.
AM Best Industry Research & Public Relations Senior Director Sridhar Manyem and Senior Industry Analyst Christopher Graham highlight key findings from two new Best's Market Segment Reports on the global and U.S. cyber insurance segments.
Emily Law, director of analytics for Verisk Claims, says while artificial intelligence has revolutionized digital media, it has also heightened the risk of generating fraudulent content.
Patrick Ryan, the founder, chairman, and CEO of Ryan Specialty will transition to the role of executive chairman on Oct. 1, when Tim Turner will become chief executive officer. They spoke to AM Best about their long relationship and the future of the company.
In his book, Price Writers Co-Founder Jeremy Keating discusses his nine-step method designed to help insurance pricing directors build a winning team and excel in today’s challenging market.
Sarat Varanasi, North American insurance business leader at Cognizant, discusses how technologies such as generative artificial intelligence and digital twins will impact the insurance industry for years to come, especially the customer experience.
Rahul Khanna, global head of marine risk consulting at Allianz Commercial, says that lost vessels hit a record low in 2023, but fires aboard large container ships have increased.
Mo Tucker, head of Commercial Lines for The Hartford discusses the findings of the company’s recently released ‘Risk Monitor’ which surveyed brokers and customers as to what their biggest risk concerns were. Among those concerns are the economy, supply-chain disruption and political uncertainty.
Pete Tessier and Curt Wyatt, hosts of the Insurance Podcast, take on homeowners, auto, business insurance companies and the people who work for them in their media platform.
William Flinker, Assistant Vice President of the Accident & Health Division at Philadelphia Insurance Cos., said PHLY provides a lot of benefits for agents doing business in the Accident & Health segment.
Jeremy Lane, Head of Mortality Services in the United States for Swiss Re, said that accelerated underwriting (AUW) has become increasingly essential for many insurance companies.
Jill Mraz, Business Development Executive at Munich Re US, said the company is looking to spread the word about insurance careers.
Derek Freihaut, Principal and Consulting Actuary for Pinnacle Actuarial Resources, said expected adverse deviation (EAD) can be a risk management tool well beyond assessing risk distribution.
Amber Wayne, Executive Vice President of Programs at Nationwide E&S/Specialty, said the program space is an attractive place to try different things.
Karel Citroen, head of municipal credit research, Conning, explains the company’s reasoning for upgrading all 50 states from “declining” to “stable,” anticipating a return to pre-pandemic economic conditions.
AM Best Financial Analyst Josie Novak highlights new research that finds the aggregate combined ratio for active Florida specialists, as well as Citizens, outperformed AM Best's personal property composite for the first time since 2017.
Matthew Donahue, managing director, fixed asset advisory services, Kroll, discusses the impact of technology, inflation and regulatory changes on asset management, and strategies to navigate economic uncertainties.
AM Best Senior Director Carlos Wong-Fupuy highlights the new Best's Market Segment Report, crediting underwriting discipline and healthy profit margins as among the contributing factors to the global reinsurance segment upgrade.
Cathy Desquesses, group chief human resources officer and head of corporate services at Swiss Re, discusses the insurance industry’s efforts to attract and retain skilled professionals, and initiatives to create an inclusive and engaging work culture.
Grace Vandecruze, director of Grace Global Capital LLC, shares her rags to riches success story as well as her insights on the insurance industry from M&A to the quest for new and diverse talent.
Jay Guin, executive vice president and chief research officer at Verisk, discusses the myriad of natural catastrophes that Canada deals with because of its diverse geography and the related challenges cat modelers face.
AM Best Senior Director Greg Williams and Associate Director Dawn Walker discuss a new Best's Market Segment Report that determines substantial premium growth in 2023 demonstrates the importance of MGAs in the insurance value chain.
Wesley Todd, CEO, CaseGlide, explains how technology and software can be deployed in dealing with an aggressive plaintiff’s bar when defending insurers in claims litigation matters.
Recent college protests and upcoming political elections raise potential risks and escalate business leaders’ concerns about growing violence, said Beazley Focus Group Leader Lucy Straker and Head of North American commercial property Matthew Westhoff.
Bryan Falchuk, host of The Future of Insurance podcast, offers his views on industry opportunities, sharing his experiences, insights and a series of case studies from his book of the same name.
Marc Rothchild, head of claims for Xceedance, and Peter Flynn, head of personal lines, Americas at Xceedance, discuss how emerging technologies, including AI, can expedite claims resolution enabling insurance companies to resolve more claims faster and better serve their customers.
AM Best Associate Director Jason Hopper highlights a new Best's Special Report on annuities that finds strong premium inflows invested at higher rates drive up asset yields.
Nirmal Ranganathan, vice president engineering AI architect at Rackspace Technology, says insurers could gain satisfaction from cutting costs and increasing some sales through IT, but many don’t realize they could benefit significantly from integrating AI throughout the business.
In his book, Agent to Agent: Revealing the Story and Strategy for Insurance People, BI&I Group Vice President and Chief Operating Officer Leo Bados Jr. shares tips for building an insurance business and leading a team with confidence.
Tanner Sheehan, vice president and general manager at US Claim Solutions, Lexus Nexus Risk Solutions, said according to their survey data, 57% of automobile insurance claimants were more likely to hire an attorney before ever even having a conversation with their insurer
Troy Tepe, vice president of safety at Charles Taylor, says with workers’ compensation premiums on the rise, a safety-first culture is critically important in the workplace
Tim Senechalle, Chief Investment Officer for AAM, said the P/C industry has a healthy balance of equity exposure.
Mark Berven, President and Chief Operating Officer of Nationwide Property & Casualty, said that as severe weather increases, we must shift to a “predict and prevent” mindset to protect customers.
Dadong Yan, Head of Barings Portfolio Finance, said portfolio finance is the next extension in the evolution of private investment grade assets.
Lisa Rowland, assistant vice president of marketing and distribution at Berkley Select, discusses Rebranding strategies, Innovation in marketing, Creating strategic marketing campaigns, and attracting the next generation of marketing talent.
Dan Ward, atmospheric scientist and director of model development, Karen Clark and Co., discusses the outlook for the 2024 hurricane season. Ward expects a very active season this year, especially in places such as Florida and Louisiana, as well as wildfire as a secondary peril.
AM Best Associate Director David Blades and Associate Analyst Justin Aimone discuss a new Best's Special Report that finds the impact of social inflation on insurance claims costs is unpredictable and excessive.
Mark Bove, meteorologist & SVP of natural catastrophe solutions, Munich Re America, discusses the findings of a new hurricane outlook report that indicate an active season could be on tap for Atlantic hurricanes.
Nichole Semprit, senior program specialist, The Actuarial Foundation, and Moriah Sanya, STEM programs coordinator, Institute of Competition Sciences, discuss the Modeling the Future Challenge, a competition for high school students who look to solve real world problems using their math skills.
High school students Timothy Chen and Aryan Mukherjee, who took part in the Modeling the Future Challenge, a competition that uses math to address real world problems, discussed their project that also used AM Best data to examine how legalized recreational marijuana could impact private passenger auto insurance rates.
John Weber sits down with Jennifer Quisenberry from New England Asset Management to revisit past conversations from the series and gain fresh insights into the investment landscape. Watch and listen as they examine the current investment outlook and review the key factors shaping today’s insurance investment environment.
Real estate, hedge funds, private equity, stocks and credit instruments create many opportunities for investment managers. A panel of leaders and experts spoke about the trade-offs of these asset classes.
It’s crucial for the industry to adapt to shifting market dynamics, regulatory changes and emerging technologies in order to effectively manage assets, a panel of industry leaders told AM Best TV.
AM Best TV hosted a panel of insurance leaders who said they believe the current economy and interest rate environment will continue to linger as the industry keeps its eye on how the Federal Reserve will respond to inflation data.
Katie McGrath, Swiss Re Corporate Solutions, and Martin Neuhaus, Munich Re, said non-modeled natural perils, particularly severe convective storms, have increased losses significantly, requiring insurers to adjust pricing and coverage. They were interviewed by AM Best TV at RIMS Riskworld 2024 in San Diego.
James Finucane, senior economist, sigma research, Swiss Re, discusses a new report that shows that strong premium gains, easing claims-cost inflation and higher investment returns are boosting US P&C industry results after a difficult period.
AM Best Industry Analyst Helen Andersen highlights a new Best's Special Report that finds two thirds of the auto carriers whose ratings were downgraded in 2023 had innovation assessments of Moderate.
Erica Davis, managing director and global co-head of cyber, and Jess Fung, North American cyber analytics lead, both of Guy Carpenter, discuss a new report that examines the evolution of cyber modeling.
Lee Shavel, CEO, Verisk, said practical applications of generative AI include tasks such as summarizing medical files and prioritizing data in commercial property underwriting. Shavel spoke with AM Best TV at the Verisk Insurance Conference 2024, held in Orlando, Florida.
Thomas Holzheu, chief economist, Swiss Re, discusses the company’s latest natural catastrophe sigma report that shows the types of events that lead to major losses, where those events took place, and the impact on the insurance industry.
Sean Kevelighan, CEO of the Insurance Information Institute, discusses how so called nuclear verdicts, litigation funding and other legal-system abuse drive up claims costs and ultimately lead to higher premiums for consumers.
Theresa Young, CSAA Insurance Group; Michael Angelina, St. Joseph's College; and Steve Clarke, Verisk, said issues also arise from lack of regulation of third-party vendors, public adjusters, and service providers, which can lead to higher claim payouts than were anticipated in pricing.
In his book, Agent to Agent: Revealing the Story and Strategy for Insurance People, BI&I Group Vice President and Chief Operating Officer Leo Bados Jr. shares tips for building an insurance business and leading a team with confidence.
Tim Nunziata, vice president and head of cyber risk, Commercial E&O at Nationwide said that when it comes to a cyber incident, the idea of being able to put a plan in place post‑breach is not realistic.
Sarah Rueppel, host of the Agent Survival Guide, discusses her podcast which dispenses industry updates on Medicare Advantage and Part D plans and helps agents stay compliant while offering sales and marketing advice.
Sridhar Manyem, senior director, AM Best, said other key issues with data from wearables include using it ethically and compliantly. Manyem spoke with AM Best TV at Insurtech Hartford Symposium 2024.
Jay Guin, Verisk; Tim Aman, Aon; and Ole Hanekop, Hannover Re, reviewed the importance of accurate valuations and innovative solutions to address latent risks and the correlation between different lines of business. Panelists spoke with AM Best TV at the Verisk Insurance Conference 2024, held in Orlando, Florida.
Tanner Hackett, CEO, Counterpart, said new machine learning and similar systems help insurers synthesize huge data sets for better underwriting, marketing and more. Hackett spoke with AM Best TV at the InsurTech Spring Conference in New York City.
Stephen Crewdson Sr., director, insurance business intelligence, J.D. Power, details a report with TransUnion that shows after months of decreasing auto insurance shopping, consumers are now returning to looking for better deals from carriers.
Insurance risk experts who spoke with AM Best TV at the Verisk Insurance Conference in Orlando, Florida, said governments are at the early stages of grappling with this issue, which intersects with science, business, public policy and land use.
Srdjan Todorovic, head of political violence and hostile environment solutions at Allianz Commercial, details the findings of a new risk report that shows terrorism, civil unrest and environmental activism as intensifying risks in a volatile geopolitical environment.
Public entities such as municipal governments are increasingly the targets of cyberthreats, said Munich Re Specialty’s Lauren Tredinnick, president, public entity solutions, and AVP Maria Long, cyber underwriter & risk management portfolio leader.
Swiss Re’s Chief Property Underwriter Mohit Pande said strikes, riots and similar events are growing in frequency and severity as rising concentrations of populations in major cities create a higher density of valued assets within a heightened risk landscape.
Betsy Myatt, vice president & chief program officer of the Insurance Industry Charitable Foundation and executive director of the IICF’s Northeast Division, Wendy Houser, chief wholesale officer at Markel and Jodie Kaufman Davis, executive vice president, H.W. Kaufman Group, discuss progress in getting women into the C Suite and what must continue to make the insurance workspace a fully diverse and inclusive environment.
Chris Graham, senior industry analyst, Credit Rating Criteria Research & Analytics, AM Best, said cyber may surpass D&O in premium volume due to its rapid growth and changing market demands. Graham spoke with AM Best TV at the 2024 PLUS Cyber Symposium in New York City.
Mark Garrett, director of claims intelligence for J.D. Power, discusses the company’s 2024 Property Claims Satisfaction Study, which finds the industry is at a seven-year low for customer claims satisfaction.
Maura Freiwald, head of casualty for Munich Re US, and Jim Whittle, vice president and counsel to the American Property Casualty Insurance Association, explain how legal-system abuse and litigation funding are leading to nuclear verdicts against insurers and what the industry is doing to combat the practice.
Arun Balakrishnan, Chairman and CEO of Xceedance said just because you have data, it doesn't mean it is useful.
David Straughan, an automotive writer and researcher breaks down the companies considered to be the best auto insurers based on a number of criteria including AM Best ratings.
David Blades, associate director, credit rating criteria research & analytics, AM Best, said fewer IPOs and securities class action suits are reducing demand in the D&O insurance market. Blades spoke with AM Best TV at the 2024 PLUS D&O Symposium in New York City.
Mark Bernacki, chief underwriting officer, Amwins discusses the significants of an election year for insurers saying that there continues to be plenty of private capital in the P&C sector thus eliminating the need for government involvement at this time.
Insurance policies are meant to provide peace of mind, but they can be a source of frustration for both the insured and the insurer if they are built on inaccurate information. This is particularly true for property coverage and the relationship between the value of the covered property and the coverage provided. As important as this aspect of property insurance is—a concept known as insurance-to-value (ITV)—there is an epidemic of inaccurate information when it comes to property values throughout the insurance industry.
In their book, The Salesperson's Guide to Growing a Business, Q4intelligence Founding Partner Kevin Trokey and Partner Wendy Keneipp share tips on how businessowners can engage teams, craft a future vision and move from surviving to thriving.
Isabelle Santenac, EY’s global insurance leader, discusses the findings of an EY-Institute of International Finance survey that finds cybersecurity at the top of the list of concerns for chief risk officers followed closely by geopolitical risks.
AM Best Industry Analyst Helen Andersen discusses new Best's Special Reports that find the rise in 2023 P/C downgrades was primarily due to the personal lines segment while affirmations represent about 80% of life/health rating activity.
Maroun Mourad, president, Verisk Claims Solutions discusses the need for modern and efficient claims solutions saying that it can not only save money, but enhance the ever critical customer experience
Hosts Craig Pretzinger and Jason Feldman discuss how their podcast attempts to help agents with the challenge of running a consistently profitable and productive agency.
Alan Ferguson, president, US Assure, discusses economic factors that builders face, and how they impact builders’ liability insurance.
Christopher Giuffre, chief strategy officer and co-founder USQRisk, discusses the unique aspects of clean energy storage and how the insurance industry is addressing those risk challenges.
AM Best Senior Director Michael Porcelli discusses a new Best's Market Segment Outlook that finds the U.S. L/A segment performed well in 2023, owing to strong liquidity and capital positions, robust annuity sales and slightly improved new money yields in a benign credit environment.
Christopher Majka, staff vice president of data visualization for FM Global, discusses the company’s Global Resilience Index that assess the relative resilience of various countries and finds Denmark, Luxembourg, and Switzerland at the top of the chart.
Michael Parcelli, SVP MGA Operations, Xceedance, discusses the rapid evolution of managing general agents, and how embedded insurance offerings could be the next part of their ascendance.
Andreas Kleiner, president and CEO of American Modern Insurance Group, discusses the company's Agent Perspectives Report that includes views on the economy, the use of technology and cultivating the next generation of agency talent.
Jennifer Nuest, transportation national practice leader for Amwins discusses the state of the industry for transportation coverage and the rapidly changing market, which she attributes to newer technology along with the importance of reputational management of companies.
Given the recent change in weather patterns, secondary perils have become more intense, resulting in higher losses for primary insurers due to higher retentions, said Daniel Ryan, senior director, AM Best, referencing a Best's Market Segment Report.
Scott Hawkins, head of insurance research at Conning, discusses the company's annual mergers and acquisitions report that shows insurance M&A rose from 125 in 2022 to 143 in 2023.
Rahul Khanna, global head of marine risk consulting for Allianz Commercial, discusses obstacles the shipping industry is facing, including floating mines in the Black Sea, diversion of ships and the industry’s vulnerability to cyberattacks.
Matt Power, president of One80 Intermediaries and Laurie Johnson, an expert in disaster recovery and hazards/climate resiliency planning, look back at the Great Flood of 1862 in California and what a similar flood today would mean in terms of insurance and recovery.
Tim Hardcastle, CEO and co-founder of INSTANDA, discusses a new report that shows what consumers want from their insurers, and how this represents an opportunity for the insurance industry.
AM Best Senior Director Sally Rosen and Director Joseph Zazzera review a new Best's Market Segment Report that finds the U.S. health segment is likely to thrive in 2024, despite several headwinds.
Bill Hodgins, head of research, LIMRA, explains what’s driving fixed rate deferred annuity sales, which rose to $165 billion in 2023 after a record-setting session the prior year and more than tripling 2021’s mark.
Paul Rehrig, president of Hagerty Media and Entertainment, in association with Hagerty Insurance, discusses the company’s new TV channel and how it ties into its brand-building strategy.
Stephen Decker, AVP, PHLY E&S Insurance Solutions, said that artificial intelligence, among other things, is having a huge impact on the surplus lines sector.
Stothard Deal, vice president of strategic planning for TransUnion’s insurance business, discusses the findings of a recent report showing personal lines trends and that the financial picture for insurers is improving.
Jason Hopper, associate director, AM Best, discusses a new Best's Special Report that finds that insurers continue to appreciate the cost/benefit improvements from outsourcing investment management.
Erik Wissig, COO of ICHRA health care platform SureCo, discusses a new set rules from the Biden administration that seeks to halt private health insurance companies’ use of prior authorization – a practice that requires insurance company permission before obtaining medication or having a procedure.
John Anthony, senior vice president, Contract P&C, Nationwide E&S Specialty, says he sees an ever-expanding opportunity in the surplus lines sector, “which is one of the things that we're looking to sophisticate on within the risk selection process to be able to handle a lot of these new and dynamic risks.”
Colin Daly, executive vice president, financial lines practice co-leader, CAC Specialty, discusses recent major shifts in the directors and officers insurance market, including significant rate declines, particularly in public D&O.
Meggin Thwing Eastman, managing director, global head of ESG policy and product research at MSCI, discusses a company report that shows with some insurers retreating from Florida and California, more expensive policies and fewer options could result.
Emmanuel Modu, managing director, insurance-linked securities, AM Best, said factors driving record cat bond issuance include investors' preference for risks attached at higher points and cat bonds' ability to avoid secondary perils. Modu spoke with AM Best TV at the Artemis ILS NYC 2024 conference.
Dale Hall, managing director of research, Society Of Actuaries Research Institute, discusses the organization’s plan to lend its actuarial expertise and participate in a Department of Commerce initiative to support the development and deployment of artificial intelligence.
NeuralMetrics Chief Underwriting Officer Chris Schrenk and Technical Co-Founder Marcus Daley said more smaller insurers are becoming interested in AI and the efficiency gains, accessibility and cost savings it offers.
InnSure Executive Director Charlie Sidoti said community-embedded insurance is an “innovative model” to improve access and deal with rising weather-related risks fueled by climate change.
Tony Fenton, vice president of product and underwriting for Nationwide, discusses the company's Agency Forward survey that reveals commercial property stakeholders – including property owners, builders and business owners – are desperate to shield their assets from the increasing threat of weather-related events.
The U.S. economy performed well in 2023, but there are signs of a potential slowdown ahead, said Ann Modica, director, AM Best, referencing a new Best's Special Report.
Katie McGrath, CEO North America for Swiss Re Corporate Solutions, discusses the initiatives for Insurance Careers Month that highlight the positions the industry has to offer in its ongoing quest to recruit new talent.
Jessica Balsam, Zurich Resilience Solutions head of climate solutions, Zurich North America, discussed the World Economic Forum’s 2023 Executive Opinion Survey and what global business executives see as the biggest risks facing G20 countries.
Mark Geoghegan, host of the Voice of Insurance Podcast, discusses his interviews with insurance CEOs and thought leaders covering the most salient and pressing issues facing the industry.
David Zona, vice president and general manager, LexisNexis Risk Solutions, discusses new virtual inspection technology that’s making the data collection process faster, easier and more accurate for risk assessment.
Global business leaders increasingly cite employer risk as the top threat facing their organizations, but recent research found many feel challenged to deal with that rising concern, said Bethany Greenwood, group head of specialty risks, Beazley.
AM Best Senior Financial Analyst Christopher Lewis discusses a recent Best’s Market Segment Report, which found farm bureaus' incurred loss ratios are worse than the industry through 3Q23.
Michael Menhart, chief economist for Munich Re discusses the company’s just released economic forecast for 2024 that shows that the macroeconomic and (geo)political conditions that shaped the world economy last year will largely remain relevant for the year ahead.
Mike Padula, head of U.S. environmental for Aspen Insurance, explains how the environmental liability sector has changed in recent years as a result of climate risk, societal pressures, an evolving regulatory landscape and a myriad of other factors.
Thomas Holzheu, chief economist for Swiss Re Americas discusses the findings of a recently published report showing that strong premium increases combined with an easing in claims costs and strong investment returns were all cause for celebration for the US P&C industry over the second half of 2023.
Coverages for Super Bowl LVIII will run the gamut from event, ticket and travel cancelation to liability, property damages and workers' comp for venue, watch parties and half-time entertainment, said Michael Giusti, an analyst at InsuranceQuotes.com.
Inflationary pressures have made financing private projects more difficult, but new public projects have helped surety premiums continue to grow, said AM Best Senior Industry Analyst Christopher Graham and Senior Financial Analyst Robert Valenta, referencing a new Best's Market Segment Report.
John Dickson, president of Aon Edge, a private flood insurance provider discusses the phenomenon of atmospheric rivers and how much water they’re dumping on North America and how the insurance industry should be reacting.
Cindy Beaulieu, managing director and CIO North America, Conning, said P/C and life insurers are now in a position to see both nominal and excess returns for insurance assets this year.
Christa Coletti executive vice president, branch manager, BMS Re US, predicts the likelihood that reinsurers will continue to be profitable in the new year, and that primary carriers should expect to see rate increases, but not as quickly as they would like.
Central Bank policy, market expectations and Federal Reserve projections on interest rates and global political policy are three areas where divergence is expected to come into play this year economically, said Ann Modica, director, AM Best.
Sarat Varanasi, insurance business unit leader for Cognizant, said the industry is working to figure out artificial intelligence, across underwriting, distribution, claims, or ever the customer experience.
Tom Varney, regional manager, Allianz Risk Consulting, North America, discusses the company’s 2023 Risk Barometer survey that shows top risk concerns are cyber, business interruption and natural catastrophes.
Judah Cohen, principal scientist and director of seasonal forecasting at Verisk, says a Super El Nino in the Pacific could have an impact on winter weather conditions throughout North America.
Noticeable differences in advertising between the personal and commercial lines reflect the segments' diverging results, said AM Best Senior Industry Analyst Christopher Graham, referencing a Best's Special Report.
The impact of COVID-19 on claims has been less than expected, despite elevated mortality in certain demographics and regions, said AM Best Senior Financial Analyst Stratos Laskarides and Industry Research Analyst Helen Andersen.
Surrendered annuity policies increased 18% through the third quarter of 2023 year-over-year, while premium growth held steady at 17%, according to a new AM Best report.
Ernst Rauch, chief climate scientist from Munich Re, discusses a recent report that shows 2023 natural disaster losses were in line with the five‑year average and just slightly above the 10‑year average.
Ram Garg, CEO, Nector Specialty Group, said SRCC-related lines have seen significant price increases in the past five years. Garg spoke with AM Best TV at the Singapore International Reinsurance Conference.
John Welch, and Tay Boon Chaun, both of Aspen Insurance Holdings, said reinsurers aim for longer-term relationships, with learning on both sides. Both spoke with AM Best TV at the Singapore International Reinsurance Conference.
Victoria Carter, chairman, global capital solutions, international, Guy Carpenter, said captive insurers at Lloyd's should benefit from reduced funding costs, robust oversight, and global licensing. Carter spoke with AM Best TV at the Singapore International Reinsurance Conference.
Tony Egerton, CEO, Nexus Asia, said greater clarity on the responsibilities and authority of MGAs would allow for greater innovation in regional Asian markets. Egerton spoke with AM Best TV at the Singapore International Reinsurance Conference.
Ivan Gonzalez, CEO, Swiss Re China, said foreign reinsurance capital remains an important element of China's insurance sector. Gonzalez spoke with AM Best TV at the Singapore International Reinsurance Conference.
Juan Marcano, principal, alternative risk transfer, CyberCube, said modeling for insurance-linked securities is expanding to include cyber, life, illness, specialty and other risks. Marcano spoke with AM Best TV at the Singapore International Reinsurance Conference.
Jayanta Guin, executive vice president, Verisk, said modeling advances allow insurers to look beyond what were traditionally considered primary perils. Guin spoke with AM Best TV at the Singapore International Reinsurance Conference.
Hui Yen, regional director, head of analytics, Asia-Pacific, Gallagher Re, said where the cost of insurance or the point at which insurance coverage begins can be a substantial portion of a company's capital. Yen spoke with AM Best TV at the Singapore International Reinsurance Conference.
Anjali Nagrani, principal product advisor, CyberCube, said the cyber insurance niche is evolving and complicated. Nagrani spoke with AM Best TV at the Singapore International Reinsurance Conference.
Himavant Mulugu, director for impact forecasting, Aon, said developing risk models and forecasting involves hydrologists, statisticians, programmers, and experts in financial mathematics, probability, and extreme value theory. Mulugu spoke with AM Best TV at the Singapore International Reinsurance Conference.
Pavlos Spyropoulos, regional managing director, Asia, Tokio Marine Kiln, cited increased costs in labor and materials for property rebuilding as an example of how inflation can escalate claim costs. Spyropoulos spoke with AM Best TV at the Singapore International Reinsurance Conference.
Javkhlant Batmunkh, Mongolian Re, said the Mongolian government is moving toward a broader disaster risk framework. Batmunkh spoke with AM Best TV at the Singapore International Reinsurance Conference.
Ian Lim, CEO, Lexasure Financial Group, said digitally enabling client companies helps to provide support to a wide range of coverage areas. Lim spoke with AM Best TV at the Singapore International Reinsurance Conference.
Chris Lim, Yi Ding and Ken Lau, all of AM Best, said the calibration of an NSR is specific and unique to each country. The three spoke with AM Best TV at the Singapore International Reinsurance Conference.
Ahmad Noor Azhari, CEO, Malaysian Re, cautioned that some insurance companies view reinsurance as a tool to propel top-line growth. Azhari spoke with AM Best TV at the Singapore International Reinsurance Conference.
The pace of change will never be this slow again, said Mo Tooker, head of Enterprise Sales & Distribution, Global Specialty, and Middle & Large Commercial, Hartford Financial, referencing the insurer's new Risk Monitor Report.
Allianz Report Identifies Major D&O Risk Trends Vanessa Maxwell, global head of financial lines for Allianz Commercial, discusses the company's recently released report that identifies the major directors and officers risk trends for 2024, including insolvencies, artificial intelligence and geopolitical risks.
Standard and nonstandard auto insurers are challenged by higher repair costs, labor and supply chain issues, and rising fatalities, said AM Best Associate Director David Blades and Associate Analyst Nasheeta Mahbub.
The direct incurred loss ratio for the first half of 2023 was more than three points above the prior year despite a 10.5% rise in premiums, said AM Best Associate Director David Blades and Senior Industry Analyst Christopher Graham.
Tresa Stephens, North American Head of Cyber for Allianz, details a new company report that looks at trends in cybersecurity. Trends show an increase in attacks that exploit software vulnerabilities and aim at digital supply chains.
Shireen Gammoh, global head of capital advisory and modeling, Gallagher Re, said insurers must consider volatility and tools to protect capital segments. Gammoh spoke with AM Best TV at AM Best’s Europe Insurance Market & Methodology Briefings – London.
Cameron Parker, head of P/C structured solutions, EMEA, Swiss Re, said investor appetite has shifted in search of higher returns. The insurance industry's recent performance has also sharpened concerns about delivering stable returns. Parker spoke with AM Best TV at AM Best’s Europe Insurance Market & Methodology Briefings – London.
Andy Moore, London Market leader and UK insurance regulatory leader, PwC, said higher rates and increasingly complex, interconnected risks require insurers to pay close attention to how they deploy capital. Moore spoke with AM Best TV at AM Best’s Europe Insurance Market & Methodology Briefings – London.
Adrian Cox, chief executive officer, Beazley, said the role of insurance extends beyond just pricing risk; it includes providing insight, risk management, and enabling progress. Cox spoke with AM Best TV at AM Best’s Europe Insurance Market & Methodology Briefings – London.
Kanika Thukral and Michael Dunckley, both associate directors, AM Best, also review changes to AM Best's holding company capital methodology. Both spoke with AM Best TV at AM Best’s Europe Insurance Market & Methodology Briefings – London.
Tony Silverman, director, credit rating criteria, research & analytics, AM Best, said combined ratios in non-life insurance will change, improving the quality of financial indicators. However IFRS 17 will mean that comparisons with other accounting standards such as US GAAP will require interpretation. Silverman spoke with AM Best TV at AM Best’s Europe Insurance Market & Methodology Briefings – London.
Mahesh Mistry and Angela Yeo, both senior directors and heads of analytics, AM Best, said global insurers face scenarios of polycrisis and permacrisis that are redefining markets and broadening the risk environment. Both spoke with AM Best TV at AM Best’s Europe Insurance Market & Methodology Briefings – London.
Greg Carter, managing director, analytics, AM Best, said reinsurers are refocusing on traditional role of balance sheet protection rather than on smoothing earnings or managing income statements. Carter spoke with AM Best TV at AM Best’s Europe Insurance Market & Methodology Briefings – London.
Tony Fenton, vice president of underwriting and product at Nationwide Property & Casualty, discusses a new survey that shows that while most business owners feel prepared for severe weather, their insurance agents aren’t so sure.
Alison Salka, senior vice president, director of research, LIMRA and LOMA, said life insurance execs name profitable growth and leveraging technology as top challenges; less than a third consider their companies well equipped to meet that challenge.
Insurers have expanded their multi-strategy allocations for greater diversification benefits, said AM Best Associate Director Jason Hopper and Industry Analyst Helen Andersen, referencing a new Best’s Special Report.
Artificial intelligence has the potential for disruption as well as process breakthroughs in the insurance industry, said AM Best Director Edin Imsirovic, referencing a new Best's Commentary.
Doug Caccese, president of risk assessment at Verisk, said discussion is increasing in and around the insurance industry about equity and fairness.
Dave Fuge, chief Innovation officer, Johnson Lambert, discusses how the insurance industry is deploying artificial intelligence right now, and how it could improve customer experience and data privacy in the future.
David Nelson, executive vice president, E&S Wholesale, Nationwide, said there's significant growth opportunities in the excess and surplus marketplace.
Matt Cullina, Head of Transunion's Global Cyber Insurance Business discusses how prevalant cyberattacks have become and how insurers are addressing the problem for small business owners.
Mark Garrett, director, Insurance Intelligence Practice, J.D. Power, discusses the company’s Auto Claims Satisfaction Study that finds that overall satisfaction with the auto insurance claims process has improved from last year.
Navigators Head of Wholesale Michael Garrison discussed the impact of inflation and catastrophes in the property market, and social inflation on the wholesale market. He spoke to AM Best TV at the 2023 WSIA Annual Marketplace in San Diego.
Michael Carr, head of U.S. excess and surplus property, Axis Wholesale, said dislocation in the marketplace is driven by increased frequency and severity of cat events, and a continued influx of submission activity. Carr spoke with AM Best TV at the 2023 WSIA Annual Marketplace in San Diego.
John Lavin, executive vice president, E&S property, U.S. insurance, Sompo International, said he expects continued rate increases from reinsurance programs and increased retentions ahead. Lavin spoke with AM Best TV at the 2023 WSIA Annual Marketplace in San Diego.
Lowell Bassett, casualty underwriter, Admiral Insurance, sees a return of bars and restaurants post-COVID and the rise of new liquor liability risks at ax throwing facilities. Bassett spoke with AM Best TV at the 2023 WSIA Annual Marketplace in San Diego.
Lauren Tredinnick, president, public entity risk solutions, Munich Re Specialty Insurance, said law enforcement excessive force is a unique challenge for municipalities. Tredinnick spoke with AM Best TV at the 2023 WSIA Annual Marketplace in San Diego.
Aon Edge President John Dickson said weather is winning the race between flood risk maps and the changing peril. He spoke with AM Best TV at the 2023 WSIA Annual Marketplace in San Diego.
Michael Parcelli, senior vice president, Xceedance, said cautious optimism abounds in the industry about implementation of artificial intelligence and ChatGPT. He spoke with AM Best TV at the 2023 WSIA Annual Marketplace in San Diego.
David Zell, vice president, specialty programs, QBE Insurance, said if a verdict goes awry, insurers sometimes audit the files of the defense attorney they hired, then seek recovery of some of the loss. Zell spoke with AM Best TV at the 2023 WSIA Annual Marketplace in San Diego.
Sam Baig and Jeff McNatt, both of Amwins, said the insurance property market is still recovering, while cyber coverage remains a challenge to the casualty sectors. Both spoke with AM Best TV at the WSIA Annual Marketplace in San Diego.
Jodie Kaufman Davis, EVP, H.W. Kaufman Group, said the insurance industry is providing opportunities to educate college students and graduates about what it has to offer. She spoke with AM Best TV at the 2023 WSIA Annual Marketplace in San Diego.
Brenda (Ballard) Austenfeld, national property CEO & president, RT Specialty, and a WSIA board member, said the continued growth of the surplus lines sector increases both the demand and opportunities for insurance talent.
A panel of industry experts at the 2023 WSIA Annual Marketplace in San Diego discussed how climate and technology are driving new and emerging exposures, and how innovation in excess & surplus makes that market well equipped to handle those risks.
A panel of industry experts at the 2023 WSIA Annual Marketplace in San Diego discussed how flexibility of the surplus lines market provides a faster response to various issues in the cyber space.
Insurance and technology experts gathered by AM Best TV at the WSIA Annual Marketplace in San Diego said insurers should use caution in deploying artificial intelligence-enabled technology or risk issues of privacy, risk management, and governance.
A panel of industry experts at the 2023 WSIA Annual Marketplace in San Diego discussed artificial intelligence, its use in the industry, how it will aid underwriters and its impact on work efficiency.
Dale Hoppe, Vice President of Workers' Compensation Programs at Nationwide Excess & Surplus/Specialty said the fluctuating and changing workplace dynamics is having an impact on the workers’ compensation market.
Arthur Randolph, principal and consulting actuary, Pinnacle Actuarial Resources said that insurers writing homeowners’ policies in Florida face a myriad of challenges including surplus erosion.
Dan Landers, President and Chief Executive Officer of A.I.M. Mutual said the companies priorities are first, last and always their people.
Brady Kelley, executive director, WSIA, said this year’s conference drew more than 7,500 registrants, with the sector reporting $98 billion in premium for the previous year. Kelly spoke with AM Best TV at the WSIA Annual Marketplace in San Diego.
Richard Giller, partner, chair of Greenspoon Marder’s insurance recovery and counseling group, discusses implications of New York Jets’ Aaron Rodgers’ recent injury and athletes’ need for permanent disability and a loss of value rider.
CAC Specialty Health Care Executive Chairman Kevin Carnell discusses how current market conditions and rising severity of natural catastrophes are driving reinsurance capacity, pricing and coverage limitation challenges facing health care systems.
Tim Francis, enterprise cyber lead at Travelers, discusses a recent survey that shows for the ninth straight year, cyberthreats were among the top three concerns of the 1,200 companies surveyed.
Long-standing headwinds for commercial auto, including social and economic inflation, remain prevalent and impactful, said AM Best Associate Director David Blades and Senior Industry Analyst Christopher Graham.
Amid concerns about equity market volatility, investors are becoming more conservative and more interested in adding annuities to their portfolios, said John Carroll, LIMRA senior vice president and head of insurance and annuities - U.S. and Canada.
An insurance and technology professional reviews the issues shaping the industry's integration of artificial intelligence.
AI is changing risk selection, marketing and policyholder relations. Regulators are increasingly skeptical of insurers who can't explain how their own algorithms work.
Which jobs are at risk, and which have been enhanced in selling, underwriting, claims, asset management, operations and more? How can insurance professionals avoid occupational obsolescence?
What functions will be handled substantially by AI, and what insurance functions, if any, will AI never perform? What are insurers' best practices for integrating AI?
Christoph Nabholz, Swiss Re Institute chief research & sustainability officer and head of the research, engagement & sustainability team, discusses a company report examining emerging risk themes and trend spotlights facing the insurance industry.
P/C mutual insurers’ profitability struggled in 2022, despite considerable premium growth, said AM Best Financial Analyst Lauren Magro, referencing a new Best's Market Segment Report.
Zelros co-founder and CEO Damien Philippon discusses the benefits and growing use of generative artificial intelligence in insurance, including automation, risk assessment and helping to identify necessary coverages.
Tim Antonelli, Head of Insurance Multi-Asset Strategy and Portfolio Manager for Wellington Management, shares the top trends he’s seeing across insurers of all sizes and types, views on inflation, and ideas on how to navigate 2024.
Arun Balakrishnan, CEO and co-founder of Xceedance, advocates a transformative approach for insurers.
Understanding markets and the pressures associated with risk helps business evolve, said Scott Egan, chief executive officer, SiriusPoint. Egan spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
Reinsurers are pricing the risk, investing in the risk on the asset side and underwriting the risk, positioning them to cope with the challenges today and tomorrow, said Jerome Haegeli, group chief economist of Swiss Re.
The traditional commercial portfolio now includes elements of cyber, engineering, political violence and contingency, said Waleed Jabsheh, CEO of International General Insurance.
Reinsurance and ILS markets have shown underwriting discipline, important because much of the past 10 years was not so positive for many industry participants, said Henning Ludolphs, managing director, retrocession and capital markets, Hannover Re.
With more than 200 million entrants into the middle class each year, the region offers growth in property, pension, life and health, said Peak Re CEO Franz-Josef Hahn. He spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
The decision to purchase capacity directly via the treaty route has allowed an insurer to control its own destiny, said Jamil Elbahou, CEO and underwriting chief, Connect Underwriting. He spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
Efforts such as cyber hygiene, flood prevention and making base products simpler and more accessible are paramount to closing the protection gap, said Patrick Tiernan, chief of markets, Lloyd’s. He spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
The reinsurance sector must prove that it’s worthy of capital support, and continuing its recent trading history of decent returns can go a long way, said Mark Cloutier, executive chairman and group CEO, Aspen. Cloutier spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
Insurance-linked securities, parametric and catastrophe bonds, and other private instruments can help nations outside the United States and Western Europe transfer risk, said Kirill Savrassov, chief executive officer, Phoenix CRetro Ltd. Savrassov spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
The underwriting community must prove to investors conditions are sustainable, and that it can again make sensible returns for stakeholders, said Alex Maloney, CEO, Lancashire Group. Maloney spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
There’s an understanding that reinsurers must make money and insurers must pay a reasonable amount for the protection they’re seeking, said Julian James, chief executive officer, global markets, Sompo International Commercial P&C. James spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
With computing power increasing, a more comprehensive data set can be used to analyze and assess risks, said Carsten Prussog, chief executive, United Kingdom, Ireland, Netherlands and Nordics, Munich Re. Prussog spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
Praedicat President and CEO Robert Reville said the abundance of data and greater use of models and property catastrophe experience make it possible to manage new risks in better ways. He spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
Relative value investors come in and out of insurance-linked securities, while strategic investors consider ILS part of their long-term portfolio, said John Modin, president, Mt. Logan Re Ltd. Modin spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
A sizable supply and demand gap lingers and pent-up demand from cedents continues to grow, which could result in terms and conditions remaining tight, said Everest Group President and Chief Executive Officer Juan Andrade. He spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
Discussions have highlighted growth, acquisition and development of new products, solutions and opportunities, said Isabelle Santenac, global insurance leader, EY. Santenac spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
Attitude of investors is different from last cycle, as now capital largely goes through the ILS market while collateralized cover enters the market, said David Flandro, head of industry analysis and strategic advisory, Howden Tiger. He spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
While macroeconomic concerns about portfolios exist, the ILS market could have a new player, cyber, which has growth potential, rate adequacy and an attractive risk profile, said Kathleen Reardon, CEO, Hiscox Re & ILS. Reardon spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
Successful managing general agents focus on underwriting, providing coverages and innovating, rather than simply promising their clients growth, said Matthew Mosher, president and CEO, AM Best Rating Services, and Andrea Keenan, EVP & chief strategy officer, AM Best. They spoke with AM Best TV at Rendez-Vous de Septembre in Monte Carlo.
A panel of industry experts at the Rendez-Vous de Septembre in Monte Carlo said a large gap remains between coverage needed and protection bought.
Optimism is being countered by an uncertain environment due to underwriting, economic, social and geopolitical factors, said Carlos Wong-Fupuy, senior director, AM Best.
Aon Edge President and CEO John Dickson said the number of people impacted by Hilary is far greater than those reporting flood losses “because not enough people in the area were carrying critical insurance…just another example of the growing insurance gap in this country.”
Sandee Perfetto, senior director, personal line coverage for products, Verisk, discusses the myriad of insurance risk differences between combustion engine automobiles and electric vehicles.
From adjusting to hybrid work to a new generation of employees, the future of work seems more uncertain than it was a few years ago. Chris Morbelli, EY Americas Life & Group Insurance transformation leader discusses the findings of a LIMRA-EY collaborative study that surveyed employees across industries and organization sizes.
Andrew Schwartz, insurance analyst at Celent, discusses a new company study on artificial intelligence that looks at the proliferation of the technology and how it is seeping into just about every facet of the insurance industry.
Karthik Ramanathan, vice president and principal engineer, research and modeling, extreme event solutions team, and Steve Clarke, government relations, both from Verisk, dissect Florida’s deadliest hurricane since 1935 in search of answers as to what made Ian such a catastrophic event.
Todd Giesing, assistant vice president, LIMRA Annuity Research, said total U.S. annuity sales climbed to $181.1 billion, setting a new record, in the first half of 2023, and LIMRA forecasts a strong second half of the year.
Alex Martin, CEO and co-founder of Clearspeed, the market leader in assessing risk in speech, said he sees voice technology as an important tool for insurers when it comes to the future of fraud detection.
Liz Kramer, newly appointed President of Excess and Surplus Lines, Munich Re Specialty Insurance, said the E&S market has almost doubled in the last four to five years.
Jamie Langes, vice president underwriting officer environmental for Philadelphia Insurance Companies sand that when considering the different impacts of environmental liability from a cleanup perspective to bodily injury and property damage it's very unique.
Ed Malaspina, chief executive officer and president, HAI Group, said the affordable housing sector is also vulnerable to cyberrisk. Malaspina spoke with AM Best TV at the annual Vermont Captive Insurance Association conference in Burlington.
Theresa Severson, vice president of insurance and risk management, Kite Realty Group, said captives are considered good options for safety and benefits programs. Severson spoke with AM Best TV at the annual Vermont Captive Insurance Association conference in Burlington.
Steve Bauman, global programs and captives director, Americas, Axa XL, said organizations face risk if their captives are noncompliant. Bauman spoke with AM Best TV at the annual Vermont Captive Insurance Association conference in Burlington.
Sandy Bigglestone, deputy commissioner, Captive Insurance Division, Vermont Department of Financial Regulation, said the attractiveness of cells lies in their existing infrastructure. They can be used to test the climate before possibly transitioning to a single-parent captive. Bigglestone spoke with AM Best TV at the annual VCIA conference in Burlington.
David Piner director of the captive program, Michigan Department of Insurance and Financial Services, said Michigan's program is growing, with about $2.5 billion in premiums written last year. Premiums could exceed $3 billion by the end of 2023. Piner spoke with AM Best TV at the annual Vermont Captive Insurance Association conference in Burlington.
Paul Shimomoto, president of the Hawaii Insurance Council, said the state hosts 40 Japanese-owned captives, with seminars planned for Tokyo and Osaka. Shimomoto spoke with AM Best TV at the annual Vermont Captive Insurance Association conference in Burlington.
Sam Komo, captive insurance manager, Missouri Department of Commerce and Insurance, said the state aims to implement technological changes to streamline premium tax and financial filings. Komo spoke with AM Best TV at the annual Vermont Captive Insurance Association conference in Burlington.
Stephen Taylor, Delaware's director of the Bureau of Captive and Financial Insurance Products, said certain proposed IRS rule requirements are considered overly broad. Taylor spoke with AM Best TV at the annual Vermont Captive Insurance Association conference in Burlington.
Vermont Captive Insurance Association President Kevin Mead said the association has conducted a trade mission in Mexico, with representatives from that country and others attending this year's VCIA conference, held in Burlington.
Mark Wiedeman, director, Captive Insurance Section, Tennessee Department of Commerce & Insurance, said the state recently licensed its 1,000th risk-bearing entity.
Lori Gorman, deputy commissioner, N.C. Department of Insurance, said legislation to modify the state's Captive Insurance Act includes extending premium tax holiday provisions. Gorman spoke with AM Best TV at the annual VCIA conference in Burlington.
Travis Wegkamp, director of captive insurance, Utah, said changes to the state's captive regulations are aimed at helping small- and medium-size businesses meet their risk needs.
A panel of AM Best rating analysts at the Vermont Captive Insurance Association conference attributed rated captives' strong performance over the past five years to minimal volatility, improved combined ratio and operating performance.
AM Best's Fred Eslami said a limited number of rated captive insurers are employing parametric coverage. Panelists spoke with AM Best TV at the annual Vermont Captive Insurance Association conference in Burlington.
Brittany Nevins, captive insurance economic development director, Vermont, said regulators, associations and legislators meet regularly to fine-tune the state's captive laws.
With oil prices at a relatively high level and COVID-19 lockdowns ended, MENA regional insurance markets are showing strong growth, said Vasilis Katsipis, general manager, market development - MENA, South & Central Asia, AM Best.
In its 2023 State of the States Municipal Credit Report, Conning shifted its outlook on state credit quality to “declining” from “stable.” States, however, are well equipped to weather an economic slowdown, said Conning’s Head of Municipal Research Karel Citroen.
Workers’ compensation has been consistently more profitable than other P/C lines from 2012 to 2022 said AM Best Associate Director David Blades and Senior Industry Analyst Christopher Graham, referencing a new Best's Market Segment Report.
Meteorologist Mark Bove, senior vice president of natural catastrophe solutions, Munich Re, discusses what the greater intensity of storms is doing to the insurance industry, and what can be done to mitigate the losses.
Maroun Mourad, president of Verisk Claims Solutions, explains how insurers continue to struggle with legacy technology when it comes to claims, and how a solution could be an interconnected claims ecosystem.
Paul Mallen, CEO and president of Amalgamated Life, sees continued need for group insurance, disability and other benefits, along with increased digital transformation to aid those markets.
Stephen Taylor, Director of the Bureau of Captive & Financial Insurance Products, Delaware Department of Insurance, said the captive industry there is built on the "Delaware advantage."
Chris Donelan, CEO, Global Reinsurance Sompo International said the reinsurance industry was not expecting a housing material shortage, rising labor costs, chip shortages, and then unemployment at historical lows with almost 10% inflation all at once.
Roosevelt Mosley, Principal and Consulting Actuary with Pinnacle Actuarial Resources, said that from summary data, the company has the flexibility to add and use different characteristics of the road-level data to develop scores.
Karen Clark, co-founder, Karen Clark and Co., said that models can provide objective benchmarks rather than waiting for lengthy loss-reporting cycles.
Lightning claim totals dropped by almost two thirds in 2022 from 2020, and by nearly $500 million from 2021, said Dale Porfilio, chief insurance officer, Insurance Information Institute, and president, Insurance Research Council.
Samir Shah, CEO of Ledger Investing, said the casualty-focused insurance-linked securities sector is expected to grow.
Collaboration between insurers and regulators is key to better understanding the use of artificial intelligence and machine learning in the industry, said North Dakota Insurance Commissioner Jon Godfread.
ICMIF Chief Executive Shaun Tarbuck said he will soon retire, and in November 2024 hand the leadership torch to current ICMIF Executive Vice President Liz Green.
To improve resilience and mitigate risks such as geopolitical tension and natural catastrophes, business leaders must examine building locations and the impact of climate risk on those facilities, said Pentti Tofte, staff senior vice president, data analytics, FM Global.
Cyber coverage far outpaces the rest of commercial insurance, said Sridhar Manyem, AM Best senior director, Industry Research & Public Relations, and Senior Industry Analyst, Christopher Graham.
Rahul Khanna, global head of Marine Risk Consulting, Allianz, details the findings of a new report that shows the number of vessel losses was down 36% in 2022 and has decreased by 65% over a 10-year period.
Thomas Holzheu, chief economist Americas, Swiss Re Institute, said that closing global protection gaps for natural catastrophes, crop, health insurance and mortality would require a record high $1.8 trillion in annual insurance premiums—a cumulative 20% rise since 2018.
Tony Fenton, vice president of commercial lines, underwriting and product at Nationwide, discusses a new company survey that shows small and medium market business owners are increasingly worried about U.S. economic conditions
Dave North, executive chairman, Sedgwick, said one element of the firm's growth has been customizing programs that create better relationships between claimants and risk-takers.
Brian Wilson, vice president, Special Investigations Unit, QBE North America, and Dan Gumpright, EVP, Product and Operations at DetectSystem, explain that insurers have kept up with tech-savvy fraudsters by deploying artificial intelligence to address a range of bogus schemes.
Dianne Greene, Verisk's global head of Diversity, Equity and Inclusion, explains how qualitative data is helping to build trust as insurers broaden their programs and initiatives.
Shane Riedman, vice president and general manager of anti-fraud analytics for Verisk Claims Solutions discusses the findings of a new study on insurance fraud that shows the crime is perceived differently compared to other types of financial fraud.
Mark Garrett, a director at J.D. Power, discusses a recent survey that shows the auto insurance industry and its customers are facing an unenviable situation: Many insurers are facing record‑high loss ratios, while many customers are seeing big rate increases. The price pressures are leading to big drops in satisfaction.
Cathay Life Insurance Co. Ltd. will contribute its ownership of Conning Holdings Ltd. and its three affiliates -- Octagon Credit Investors, Global Evolution and Pro-market -- in exchange for 16.75% ownership of GIH, said Woody Bradford, chief executive officer and chair of the Conning board.
A panel of risk management experts at the IASA conference in Minneapolis said organizations must share a common perspective about their own risks and how to address them.
Stewart Foley, founder, Insurance AUM, sees a race shaping up with development applications, but warns that artificial intelligence can give incorrect results. Foley spoke with AM Best TV at the 2023 IASA Insurance Conference in Minneapolis.
Truman Esmond, founder and CEO, Partnership for Insurance Information, said artificial intelligence processes can employ blockchain technology to give greater transparency into the results they generate. Truman spoke with AM Best TV at the 2023 IASA Insurance Conference in Minneapolis.
Neal Schmidt, Vice President of Underwriting, Specialty Property at Philadelphia Insurance Cos., said flood resilience is all about the ability to withstand and rapidly recover.
Derek Freihaut, Principal and Consulting Actuary for Pinnacle Actuarial Resources, said that inflation in 2022 was particularly significant to many insurers because of the replacement costs of big-ticket items.
James Turgal, vice president, Optiv, said proposed U.S. SEC regulations would expand cyber reporting requirements for leaders of publicly traded companies. Turgal spoke with AM Best TV at the 2023 IASA Insurance Conference in Minneapolis.
Tip Tipton, head of accounting policy, Thrivent, said U.S. insurance regulators are moving toward changes that would alter the way bonds and asset-backed securities are reported. Tipton spoke with AM Best TV at the 2023 IASA Insurance Conference in Minneapolis.
A panel of climate experts at the Insurance Accounting and Systems Association conference in Minneapolis said financial incentives are important in encouraging the building of more resilient structures.
Kerry Crockett, CEO, Insurance Accounting and Systems Association, said the organization is moving from a sole focus on accounting and insurance, to a better connection with the broader community and creating content for a diverse audience.
Jordan Kurkowski, executive vice president and professional lines specialist at Amwins Brokerage, said that directors and officers insurance has experienced remarkable growth in recent years, evolving alongside the regulatory and societal expectations such as ESG.
Brian Grabek, executive vice president, Sompo International, said risk managers for multinational organizations must balance local compliance with organizational risk needs. Grabek spoke with AM Best TV at Riskworld, the RIMS 2023 annual conference.
Todd Jones, CEO, QBE North America, said insurers must scrutinize implementations of artificial intelligence for safety and issues of safety and fairness. Jones spoke with AM Best TV at RIMS' Riskworld, held in Atlanta.
Matt Scott, head of innovation, Hartford Financial, said new usage-based systems will become more prevalent in commercial lines, including workers’ comp. Scott spoke with AM Best TV at RIMS' annual Riskworld conference, held in Atlanta.
Saadia Savory, vice president, excess casualty, Aspen Insurance, said recent punitive court awards show that social inflation remains a priority issue for insurers. Savory spoke with AM Best TV at RIMS' annual Riskworld conference, held in Atlanta.
Joan Woodward, president, Travelers Institute, said the organization is working on programs that promote awareness of cyberrisk, worker health and more. Woodward spoke with AM Best TV at RIMS' Riskworld conference, held in Atlanta.
Sivan Iram, CEO of digital commercial risk marketplace Capitola, said communication between brokers and underwriters is made difficult by disparate systems and a deluge of information.
Tom Iorio, executive vice president, Nationwide, said outsized verdicts can drive other insureds to seek earlier settlements, which in turn can encourage additional litigation. Iorio spoke with AM Best TV at RIMS' Riskworld, held in Atlanta.
Scott Stransky, managing director and head of the Cyber Risk Analytics Center at Marsh McLennan, said organizations without active directory hardening are more than five times more likely to have a cyber issue.
Bob Parisi, head of Munich Re F&C Cyber Solutions, North America, said artificial intelligence is an immediate threat to cybersecurity, and ransomware appears to be resurging.
Allister Yu, vice president of operations, Rhoads Online Institute, said organizations that focus on learning from their own information can become more efficient and make informed decisions.
Insurers at RIMS' annual Riskworld conference, held in Atlanta, said next-generation customer experience will combine data, technology and expertise to create tailored solutions.
A panel of artificial intelligence and insurance experts said carriers should begin with a good understanding of their own data in order to leverage AI tools and in turn enhance customer experience and improve processes.
Insurance distribution experts at RIMS' annual Riskworld conference in Atlanta, said organizations have learned that acquiring appropriate risk protection is boardroom responsibility.
Ken Griffin, Managing Director, Head of Insurance Solutions for Barings, said that while asset market values have declined, so has the market value of their liabilities.
Leah Savageau, senior fixed income research analyst who covers the banking sector for AAM said one of the bigger issues she’s noticed was more intense migration of deposits out of smaller banks versus larger banks.
A panel of risk and insurance experts at the RIMS Riskworld conference in Atlanta said business interruption and secondary perils are also rapidly evolving risks.
Fergus Critchley, head of crisis management North America at Willis Towers Watson, and Morgan Shrubb, head of North America War, Terrorism and Political Violence, Axa XL, said insurers are adding coverage elements.
Chris Sparro, CEO of North America Insurance, Sompo International Commercial P&C, and Kristof Terryn, CEO, Zurich North America, said inability to attract sufficient talent to replace its aging workforce puts the sector at risk.
Industry experts at Riskworld, the RIMS 2023 annual conference, react to a projection that the market for embedded insurance could reach $2.3 trillion in 2032.
Jennifer Santiago, president, RIMS, said this year's event, held in Atlanta, should draw 9,000 participants. Santiago spoke with AM Best TV at RIMS' annual Riskworld conference, held in Atlanta.
Scott Smith, vice president, director of safety management, Selective Insurance, discusses a survey that found 91% of motorists who drove with their dogs over the past year admitted to interacting with them while driving.
Investment experts examine the asset management trends, opportunities and risks facing today's insurance organizations.
Alternative investments offer opportunities for yield, but they also require timing and focus.
Few are bidding the low-rate environment a fond farewell, but the next chapter in investing is still taking shape.
Investment and insurance professionals review investment categories and how insurers' strategies are changing.
Aviad Pinkovezky, president of First Connect, a Hippo subsidiary, says artificial intelligence tools, melded with comprehensive data, will allow specialized insurance organizations to more quickly negotiate any learning curve.
Eric Gesick, senior vice president for casualty analytics, Verisk, said companies should examine their business relationships to determine how they might be linked to emerging risks.
A panel of insurance and atmospheric science experts at the Verisk Insurance Conference said overall tropical storms may decrease, but the Atlantic basin has seen an increase in slower moving storms that produce more rainfall.
A panel of auto insurance experts at the Verisk Insurance Conference said auto insurers are recovering from a "double whammy" of mis-rated policies and inflation.
Charles Jackson and Antoine Blanchard, both with Verisk Extreme Event Solutions, said individual underwriting models can be combined via artificial intelligence to uncover previously unforeseen exposures.
Bill Devine, Travelers, and Neil Spector, Verisk, said insurers have made huge investments in software and cloud computing, and now must discover new ways to cooperate as an industry.
A panel at the Verisk Insurance Conference said the definition of unfair discrimination has evolved over time, and uses of big data and predictive analytics require careful examination to ensure they do not result in unfair discrimination.
A panel of fire and insurance experts at the Verisk Insurance Conference said some insurers might exclude wildfire risk, but the public and legislators are becoming more aware and are concerned about the risk.
Speaking at the Verisk Insurance Conference, a panel on severe thunderstorm and hail risk said insurers can use data to promote awareness and help communities improve structures and embrace resilient structure standards.
Trish Hopkinson, Verisk Underwriting Solutions and Alex Wright, client and consulting services, Verisk, said claims costs come in higher than expected because of demand surge during peak events and failing to monitor changing replacement costs.
Lynn Pina, chief marketing officer at GeoBlue, discusses the need for travel medical insurance as more Americans are heading abroad since the pandemic has mostly subsided. About 6% of US travelers purchase the coverage.
Bill Johnson, chairman and CEO of Liberty Company Insurance Brokers, and Kirk Aguilera, a managing partner, discuss the state of the workers' compensation insurance market and corporate culture among the businesses that serve that market.
Sarina Puccio, Head of Credit and Surety, Munich Re US, said the labor shortage is one of the hottest topics for insurers.
Laura Crossin, senior vice president of human resources at Philadelphia Insurance Cos., said the industry needs to make a commitment to develop young talent.
Keith Riccio, executive vice president, commercial D&O liability for Nationwide Management Liability and Specialty, said that environmental, social and governance reporting requirements are not particularly cumbersome for companies.
Pamela Corey, president, Chinese American Insurance Association, said many Chinese Americans have specific risk needs, and are sometimes subject to stereotypical assumptions.
Tanner Hackett, CEO, Counterpart, said new machine learning and similar systems help insurers synthesize huge data sets for better underwriting, marketing and more. Hackett spoke with AM Best TV at the InsurTech NY Spring Conference in New York City.
David Vanalek, senior vice president, Richmond National Insurance, said litigation activity is rebounding after the pandemic, and recent Florida legislation may help insurers.
Kevin Stein, CEO and co-founder, Delos Insurance, said carriers that write in wildfire-exposed areas can partner with specialists, rather than forego coverage. Stein spoke with AM Best TV at the InsurTech NY Spring Conference in New York City.
John Pruitt, partner, Eversheds Sutherland, said some insurtech-insurer relationships are winding down because they didn't deliver on original expectations.
Rhonda Marcucci, vice president of innovation, Gallagher, said the focus on innovation should be a fundamental element throughout an organization.
Tommy Smoot, vice president of individual markets inforce engagement, Guardian Life, said the insurer is finding ways to offer counseling and support to claimants. Smoot spoke with AM Best TV at the InsurTech NY Spring Conference in New York City.
Tony Lew and David Gritz, managing directors and co-founders, InsurTech NY, said startups and carriers are still struggling with how to collaborate. Both spoke with AM Best TV at the InsurTech NY Spring Conference in New York City.
Farron Blanc, vice president of brokerage distribution & strategy, Legal & General America, said insurers are looking to insurtechs that can help with brokers and advisers.
Angela Grant, chief legal officer, Palomar, said pursuing diversity and inclusion leads to broader-based products and services. Grant spoke with AM Best TV at the InsurTech NY Spring Conference in New York City.
Kevin O'Brien, president and CEO, Inland Marine Underwriters Association, said the growing presence of MGAs helps carriers control their own underwriting expenses.
The rise of activity from the expected construction of 2,100 wind turbines in the United States by 2030 could spur first-party property, liability, hull and marine pollution insurance claims, said Corey Greenwald, partner, Clyde & Co.
The COVID-19 pandemic highlighted both well-planned and disjointed innovation efforts for insurers, said Jason Hopper, associate director, AM Best, referencing a new Best’s Special Report.
Delaware Insurance Commissioner Trinidad Navarro sees opportunities in his state with a record number of insurers on the health insurance marketplace, increased pro-consumer legislative efforts and the formation and redomestication of more captives.
Chris Hayes, AVP for Risk Control for Travelers discusses the recently released Travelers Risk Index that found the increased use of mobile technology is leading to an increase in distracted driving as some motorists aren’t just texting while driving, but now shopping or tending to their social media while behind the wheel.
Solutions to address systemic risks are needed, said AM Best Senior Director, Industry Research & Public Relations Sridhar Manyem, and Senior Industry Analyst Christopher Graham.
It’s important for producers to remember key events in individuals’ lives and become involved in their community in order to form client relationships that can help master the “secret art” of selling insurance, educator and sales producer Ana-Maria Figueredo says in her book.
Former D.C. Insurance Commissioner Stephen Taylor, now leader of Delaware’s Captive Bureau, discusses his plans to create a more streamlined, modernized process while exploring opportunities in ESG, cyber and domicile relocation.
Growing economic pressures and political uncertainties are fueling the rise of global strikes, riots and civil commotion, said Srdjan Todorovic, head of political violence and hostile environment solutions, Allianz Global Corporate & Specialty.
As commercial insurers face decelerating rates, inflation and other risks, some must think about how to manage their gross to net exposure, said Shannon Varney, partner, McKinsey’s Boston office.
Payouts fund three main areas of response: damage assessment, removal of debris and reattaching broken coral heads, said Simon Young, senior director, Climate and Resilience Hub, WTW.
Cyber and homeowners are among the risks beyond traditional auto exposures that insurers should consider when underwriting electric vehicles, said Sandee Perfetto, senior director, personal lines coverage products, Verisk.
The frequency and severity of coastal risk is increasing, so insurers should explicitly consider nature-based solutions such as the restoration of natural infrastructure to mitigate risk, said James Doona, managing director, Munich Re Capital Markets, and Raghuveer Vinukollu, senior vice president, Climate Insights and Advisory, Munich Re.
The policy will provide coverage for rapid coral-reef repair and restoration in Hawaii following damage from hurricanes and tropical storms, said The Nature Conservancy's Makale'a Ane, community program manager in Hawaii; Julia Rose, Hawaii Island marine project manager; and Eric Roberts, senior manager, Climate Risk and Resilience Global Adaptations team.
Steve Kinion, captive director at the Oklahoma Insurance Department, said “I’m taking all that knowledge that I learned in Delaware over the past couple of years and bringing it to Oklahoma.”
Lisa Katterman, president, PAMIC, said the Philadelphia Contributionship, founded by Benjamin Franklin, is one of the oldest mutual insurers in the United States.
Guillermo Franco, head of research, Guy Carpenter, said many mutual insurers have a high degree of trust, making them good candidates to offer parametric coverage. Franco spoke with AM Best TV at the Pennsylvania Association of Mutual Insurance Companies' annual conference, held in Hershey, Pennsylvania.
Robert Pignataro and Frank Fazio, both of Ultimate Risk Services, said smaller businesses may enact cyber defenses but many have difficulty maintaining them.
Adam Pichon, vice president and general manager of auto insurance for LexisNexis Risk Solutions, discusses the latest company report that examines shopping and buying trends that detail how both shopping and buying increased in the fourth quarter of 2022.
Jeff Heubner, chief risk officer for CSAA Insurance Group, discusses the company’s backing of a fund that supports the remediation of excess wood from California forests in an effort to mitigate the spread of wildfire.
Risk management and insurance are changing and so too must today's risk professionals, said Peter Miller, president and CEO, The Institutes. Going forward, more emphasis will be placed on pre-loss: risk mitigation and risk control.
Alastair Yu, senior vice president of operations at Rhodes, a provider of insurance technology solutions, explains that as insurance markets rapidly change, companies must make sure their distribution partners are properly credentialed.
Despite new challenges on the horizon, U.S. life/annuity insurers navigated the pandemic and emerged with solid balance sheets, capitalization and liquidity, said Edward Kohlberg, director, AM Best, referencing a new Best's Market Segment Report.
Despite numerous economic challenges, surety bond underwriters have maintained profitability by keeping losses relatively low, said AM Best Associate Director David Blades and Senior Financial Analyst Robert Valenta.
Live audiences, effects and high-profile individuals are among insurers’ safety and order concerns for awards shows such as the Academy Awards, said Kurt Miner, managing director of Allianz Risk Consulting’s Entertainment Division.
U.S. title insurers' net underwriting income again grew 40% in 2021, but the segment faces several headwinds, said Kourtnie Beckwith, senior financial analyst, AM Best, referencing a new Best's Market Segment Report.
EVs can be heavier than combustion engine cars due to the weight of the batteries, said Robert Passmore, department vice president of personal lines, American Property Casualty Insurance Association. Electric vehicles also tend to accelerate faster.
A recent Broadridge survey found only 11% of consumers believe the insurance industry provides a quality customer experience and 26% are confused by insurers’ communications, said Matt Swain, head of communications insights and experience at Broadridge.
Eric Coleman, senior vice president, commercial lines, Nationwide, said the restaurant industry has recovered from the pandemic, and most owners are increasing focus on insurance while face growing pressures such as rising costs and changing building valuations.
Nicholas Aiola, chief executive, Priority Life, a health and life insurer, says that now that the pandemic is waning, so too are life insurance sales. Health policies, meanwhile, are on the upswing.
Andrew Schwartz, an analyst with Celent, discusses the decline in insurtech funding and the associated factors, including lackluster return on investment from past spending.
Ashley Moffatt, SVP Brokerage, Primary Casualty for Nationwide E&S, said their ultimate goal is to be a top 10 carrier with their key distribution partners.
Kristin Stein, vice president, PHLY E&S Insurance Solutions, said the company focus this year is on the value of human connection and relationship building.
Tandeka Nomvete, director of external engagement, Spencer Educational Foundation, said the organization helps connect financial supporters with targeted scholarship opportunities.
Marion Townes, senior district sales manager, Erie Insurance Group, said military veterans bring discipline and adaptability to their work. Townes spoke with AM Best TV at the Emerging Leaders Conference in Charleston, South Carolina.
Juan Andrade, president and CEO, Everest Re Group, said the rate of change continues to increase, putting greater emphasis on the use of data, analytics and effective leadership.
Kirstin Marr, chief analytics officer, Insurity, said studies show that many workers must upgrade skills or retrain to fill available jobs. Marr spoke with AM Best TV at the Emerging Leaders Conference in Charleston, South Carolina.
Insurers can help transition pandemic remote hires with "soft skills" into collaborative team members by employing effective strategies, said Judy Busby, senior vice president of executive search and corporate strategy, The Jacobson Group.
Margaret Spence, founder, Inclusion Learning Lab, said insurers should be open to recruiting candidates with diverse backgrounds, attention to detail and abilities to succeed with customers.
Andrew Robinson, CEO, Skyward Specialty Insurance Group, said the organization has instituted professional development plans for all employees. Robinson spoke with AM Best TV at the Emerging Leaders Conference in Charleston, South Carolina.
Connected health devices are driving healthy behaviors, and technology is the ‘”glue of the intersection” where those behaviors can be communicated back to life insurers, said Matt Berman, president, Foresters Financial US.
Aon Edge President and CEO John Dickson said the rise of unprecedented flooding events throughout the year is reinforcing the need for flood insurance, preparation, continued investment and the ability to quickly deploy resources.
Gary Session, Exdion Solutions Senior Vice President, Client Success Management said that while the brokerage community is not typically at the cutting edge of technology, tools such as AI could help stem the impacts of inflation
Scott Cornell, Travelers’ transportation lead and crime & theft specialist, discusses what cargo thieves are targeting and how the insurance industry should be working with clients to mitigate heists.
College and university experts must examine whether art collections are large enough to warrant a separate fine arts policy, and how issues of rightful ownership come into play, said Stacie Kroll, managing director, higher education practice, Arthur J. Gallagher & Co.
Mark McElroy, executive vice president and head of insurance at TransUnion, discusses a new survey on life insurance that illustrates the low rate of penetration and what agents and brokers can do to turn the tide through more digital offerings.
In a single flight, stratospheric imaging robots can capture what nearly 800,000 drones can capture, thereby shrinking the timeline of mapping a large portfolio from years to one flight, said Rema Matevosyan, CEO, cofounder, Near Space Labs.
Despite the Russia/Ukraine crisis, trade credit insurers are expected to report strong results for 2022, said Mathilde Jakobsen, director, analytics, AM Best, referencing a new Best's Market Segment Report.
Craig Weber, insurance practice leader at Cognizant, explains Metaverse and why companies should invest in its applications to help improve customer and employee experience, sustainability and operational efficiency,
Tim Nunziata VP head of Cyber Risk, Nationwide Management Liability and specialty said that when it comes to a cyber breach, there are a number of tools an insured can use to fight back.
Matt Reilly, managing director, head of Insurance Solutions, and Scott Hawkins, managing director, head of insurance research, both from Conning, discuss the findings of a recently released survey illustrating the current environment.
Inflation is putting pressure on the insurance industry to maintain stability, while also holding a line on premiums, said Randy Hodge, executive vice president, staff insurance operations, FM Global.
"You're just going to see a lot of similarities with increased inflation and increased costs for every aspect of a claim," said Cullen Sophy, US CEO, Charles Taylor Adjusting.
Heather Majewski, head of life health solutions at Swiss Re, explains why life insurers should engage with policyholders participating in health & wellness programs and the benefits for both.
Risk and opportunity are plenty in the California private flood insurance segment, said Christopher Graham, senior industry analyst, AM Best, referencing a new Best's Commentary.
Josephine Wolff, associate professor, cybersecurity policy, Fletcher School of Law and Diplomacy, Tufts University, discusses how insurers and others can make cyberinsurance a more effective cyberrisk management tool.
Rich Sega, global chief investment strategist at Conning, discusses the impact of the midterm election on the insurance industry and the year ahead.
Collateralized loan obligations are somewhat protected in a rising interest rate environment, said AM Best Associate Director Jason Hopper and Industry Analyst Helen Andersen, referencing new research from AM Best.
Hemant Shah, CEO, of AI-driven risk platform Archipelago, said he expects an increased focus on risk management, resiliency, retention, and strategy to increase the ability to access and use capacity and scale in 2023.
Phil Klotzbach, research scientist, Colorado State University, said storm modeling continues to improve, boosted by ever-more-powerful technology. Klotzbach spoke with AM Best TV at the Joint Industry Forum 2022 in New York City.
Fred Karlinsky, shareholder, Greenberg Traurig, said insurance fraud is evident statewide, particularly in the southern portion. Karlinsky spoke with AM Best TV at the Joint Industry Forum 2022 in New York City.
Frank Paul Tomasello, executive director, The Institutes Griffith Insurance Education Foundation, said turnover in public leadership positions means fresh audiences for fundamental insurance concepts. Tomasello spoke with AM Best TV at the Joint Industry Forum 2022 in New York City.
Dale Porfilio, chief insurance officer, Insurance Information Institute, said investment-driven litigation funding is lengthening lawsuits and clogging court systems. Porfilio spoke with AM Best TV at the Joint Industry Forum 2022 in New York City.
Bill Ross, chief executive officer, Insurance Industry Charitable Foundation, said the collective this year launched a Sustainability Committee to help leaders in related jobs learn from one another. Ross spoke with AM Best TV at the Joint Industry Forum 2022 in New York City.
Seth Rachlin, executive vice president, Capgemini, said the number and severity of disasters in recent years have put the focus on insurers' speed and effectiveness in settling claims. Rachlin spoke with AM Best TV at the Joint Industry Forum 2022 in New York City.
Omar Kaywan, head of growth and co-founder of Goose Insurance, said his company is removing barriers to insurance so that more people can merely “swipe right” on their phones and access more coverage.
Along with evolving risks such as changing weather patterns and labor shortages, the agribusiness sector is now faced with fewer markets, less capacity and rising rates, said Louis Bridges, senior risk consultant, Insurance Office of America's agribusiness division.
Marco Mirabella, founder and CEO of Ensuro, a decentralized licensed insurer on a public blockchain, explains the need for decentralized finance insurance in what could be a burgeoning market.
Bail bond premiums were up 11.1% from five years ago, despite recent reforms in many states, said AM Best Associate Director David Blades and Associate Analyst Michael Vallario referencing new research from AM Best.
New research from AM Best reveals that the U.S. commercial auto segment still faces challenges even after posting the best results in over a decade, said AM Best Senior Industry Analyst Christopher Graham.
New research from AM Best shows private carriers increased their total flood insurance by more than 40% in 2021, said AM Best Senior Industry Analyst Christopher Graham and Associate Director David Blades.
The net underwriting loss reported for first-half 2022 was the worst in five years, said AM Best Associate Director David Blades and Associate Analyst Michael Vallario.
The state is dependent on Florida-focused specialist insurers, which are disproportionately dependent on reinsurance, said AM Best Senior Industry Analyst Christopher Graham and Senior Director, Industry Research & Public Relations Sridhar Manyem.
U.S. auto insurers' profit margins are being squeezed by inflationary pressure, supply chain challenges and costly repairs of technologically advanced autos, said AM Best Associate Director David Blades.
Frank Cesario, director, claims, insurance, LexisNexis Risk Solutions, said the rising number of total losses requires a greater focus on compressing the timeframe to make customers “whole faster and ensure we’re paying the right amount for the taxes and fees.”
Kip Kelley, CEO US, Aon Affinity, said successful programs are built on innovation, distribution, underwriting and administration. Kelley spoke with AM Best TV at Target Markets' 20th Annual Summit, held in Scottsdale, Arizona.
Claude LeBlanc, CEO, Ambac and Everspan Group, said the organization typically retains about 20% of the risk it writes. LeBlanc spoke with AM Best TV at Target Markets' 20th Annual Summit, held in Scottsdale, Arizona.
Ann McColgan, midcorp programs governance lead, Allianz Global Corp. and Specialty, said managing general agents that lack strong tech capabilities are being acquired by organizations that have those resources. McColgan spoke with AM Best TV at Target Markets' 20th Annual Summit in Scottsdale, Arizona.
David Halfpenny, senior vice president, Axis Capital, said the rebound for the travel, leisure and sports sectors is fueling coverage growth. Halfpenny spoke with AM Best TV at Target Markets' 20th Annual Summit, held in Scottsdale, Arizona.
Matt Sackett, CEO, Doxa Insurance Holdings, said the managing general agency sector is seeing strong growth, which is adding to the attractiveness and value of individual organizations. Sackett spoke with AM Best TV at Target Markets' 20th Annual Summit, held in Scottsdale, Arizona.
David Kaplan, vice president, captives and gig economy, Crum & Forster, said programs can find risk financing via alternative markets and captives.
Denise Olson, head of programs, Zurich North America, said MGAs can demonstrate their quality through assessments and meeting best practices designations. Olson spoke with AM Best TV at Target Markets' 22nd Annual Summit, held in Scottsdale, Arizona.
Jennifer Guidry, divisional vice president, business development and marketing, Great American Insurance Group, said organizations that specialize perform and attract talent better than generalists. Guidry spoke with AM Best TV at Target Markets' 20th Annual Summit, held in Scottsdale, Arizona.
Brian Cohen, CEO, Arden Insurance Services, said commodity lines such as home and auto coverage are particularly challenging areas in which to develop specialized coverage.
John Colis, president and CEO of delegated underwriting authority enterprise Euclid Program Managers, said many smaller managing general agents have disappeared as firms have turned to acquiring MGAs rather than retail brokers.
Leah Ohodnicki, senior vice president, head of specialty programs, Argo Group, said the organization is working across its network to support newer insurance professionals. Ohodnicki spoke with AM Best TV at Target Markets' 20th Annual Summit, held in Scottsdale, Arizona.
Matt Price, senior vice president, Aspen Insurance, said the appeal of the managing general agent sector is the ability to build through specialization. Price spoke with AM Best TV at Target Markets' 20th Annual Summit, held in Scottsdale, Arizona.
David Howden, founder and chief executive, Howden Group Holdings, and Kieran Sweeney, executive chairman, DUAL North America, said managing general agents have become a significant entry point for insurance talent and technology. Both spoke with AM Best TV at Target Markets' 20th Annual Summit, held in Scottsdale Arizona.
Sachin Kulkarni, senior vice president, Xceedance, said attempts to transform organizations often falter because they don't adequately consider the human element. Kulkarni spoke with AM Best TV at Target Markets' 20th Annual Summit, held in Scottsdale, Arizona.
Piyush Patel, vice president, property, Nationwide E&S Specialty, said working as an underwriter exposes professionals to a host of financial and reinsurance considerations. Patel spoke with AM Best TV at Target Markets' 22nd Annual Summit, held in Scottsdale, Arizona.
Rich Soja, global head of inland marine and North American head of marine at Allianz Global Corporate and Specialty, said the marine lines should see continuous growth in the year ahead despite inflation and increasing reinsurance rates.
Stephen O'Connor, general manager of CloudCore Business and executive vice president at EIS, says insurers want to pick up the pace of change.
Ian Drysdale, CEO, One Inc., discusses the rapid transformation of insurers embracing digital claims payments to help enhance customer experience.
Munich Re's Farny: China's Reinsurance Market Shifting From Capital Management to Risk Transfer
TMK's Spyropoulos: Rising Middle Classes, Regulatory Standards Support Insurance Growth in Asia
Beat Capital Chair: Modeling Skills Help MGAs Build Partnerships With Capital Providers
Peak Re’s Hahn: Economic Conditions Create Challenges, Opportunities and Spur Model Changes
ReSource Pro’s Dean: Big Opportunity for MGAs Is Understanding Underwriters’ Future Role
Burns & Wilcox’s Kaufman: More University Insurance Programs Needed to Address Talent Crisis
WSIA Emerging Risk Panel: Inflation, Secondary Perils, Social Inflation Among Emerging Risks
Westfield’s Hahn: Dynamically Changing Insurance Industry Puts Company Cultures at Risk
Westfield’s Hahn: Dynamically Changing Insurance Industry Puts Company Cultures at Risk
Dynamic Excess and Surplus Market Sabrina Hart, Munich Re Specialty Insurance President, Excess and Surplus, said the Excess and Surplus market has historically been among the most dynamic.
Ryskex Inc.’s Schmalbach: Covering Tomorrow's Risks Should Involve Parametric, Blockchain
A.I. Insurance's MacArthur: Artificial Intelligence Is Fueled by Rich, Well-Organized Data
Risk Consultant Varney: Hurricane Preparation Should Include More Than the 'Building Envelope'
Poulton Associates CEO: More Innovation Needed to Create Insurance Mechanisms for the Public Good
Poulton Associates CEO: More Innovation Needed to Create Insurance Mechanisms for the Public Good
Aon’s Bowen: La Nina Conditions Could Create Another Above-Average Hurricane Season in 2022
CargoCorp’s Martinez: War, Labor Shortage, Climate Change Create Maritime Transport Disruptions
MPL Association’s Atchinson: ‘Considerable’ Amount of Risk Moving Into the Alternative Market
Bermuda BDA’s Weinstein: Any Progress From Florida’s Special Legislative Session Would Be Welcome
Opendoor’s Moya: Silicon Valley Risk Managers Remain Focused on Ransomware, Political Risks
Liberty Mutual Chief Client Officer: Effects of US Labor Shortage Spread Across Core Business Lines
Munich Re’s Vinukollu: ‘Get Back to Basics’ to Handle Frequency and Severity of Cat Events
Garland Risk Manager: Cyber, Data Issues, Unique Exposures to First Responders Are Growing Concerns
Panel: Cyberrisk Forces Organizations to Examine Resiliency, Exposures, Policy Language
RIMS President: Riskworld Conference Name, Content Reflect Globalization of Risk Management
CyberCube’s Altman: Insurers, Reinsurers Must Tighten Defenses Against Potential Russian Cyberattacks
New York Life’s Ball: Younger Generations Are Increasingly Creating Financial Nest Eggs
Allianz Global Corporate & Specialty’s Christie: Cyber Incidents Top Allianz Risk Barometer
Limra’s Salka: Consumers Highly Confident in Insurers Amid Growing Concerns About COVID, Economy
Resilience’s Vitale: Underwriting Profitability, Communication Are Essential for Building MGA Relationships
Maguire Academy of Insurance and Risk Management at St. Joseph's University: Gender Diversity Increasing
AM Best: New Performance Assessment Provides Tool for Differentiating Between Delegated Underwriting Authority Enterprises
Empathy’s Gura: App Provides Emotional, Logistical Support to Families Who Have Lost Loved Ones
Griffith Foundation's Tomasello: We're Helping Insurance Regulators Put a Spotlight on Solvency
EY’s Klein Wassink: Younger Consumers in Emerging Markets Are Developing an Appetite for Insurance
Gil Hine, senior vice president, McClelland and Hine, said the Lone Star State has been beset in recent years (Nov. 18, 2021).
WSIA Flood Panel on Risk Rating 2.0: 'It's Going to Take a Long Time to Fill that Hole'
Breeze: One-Third of Americans Would Get Vaccinated if Insurers Raised Costs for the Unvaccinated
Applying Behavioral Economics to Insurance: Andrew Schwartz, an analyst at Celent, explains how behavioral economics fuses the teachings of psychology and economics and can help insurers better understand their customers' buying decisions
Special Presentation: How Insurers Are Profiting By Serving A Diverse And Inclusive Customer Base
Special Presentation: Best Practices for Building a Diverse and Inclusive Insurance Workforce
Otterbourg P.C.'s Weinick: Insurance Can Be Both A Solution and A Problem for Cybersecurity
CSAA Insurance Group: Environmental, Social and Governance Presents Opportunities for Insurers
AM Best: Publicly Traded US Health Insurers’ Debt Obligations Up More Than Four Times in Past Decade
TrustedChoice.com: A Staggering One-Third of Phone Calls to Insurance Agents Go Unanswered