Triple-I Podcast: Recent Episodes
The Insurance Information Institute
The Insurance Information Institute Podcast, including All Eyes on Economics, hosted by Dr. Michel Leonard and produced by Marina Madsen, features discussions with insurance industry practitioners, regulators, community stakeholders, and thought leaders discussing current and emerging issues that will shape the state of insurance over the next years. Visit the Triple-I at www.iii.org for our latest articles and industry research or follow the discussion on Twitter @iiiorg.
Description:
All Eyes on Economics is a podcast series by the insurance information institute providing different perspectives on the intersection of economics and business strategy in insurance and financial sectors. Thoughtful and actionable, Dr. Léonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Host Michel Léonard, Donna Glenn, Chief Actuary at NCCI, and Stephen Cooper, Executive Director and Senior Economist at NCCI, engage in an in-depth discussion on the workers compensation market. They discuss key factors in ratemaking, including economic indicators and the importance of understanding wage growth, inflation, and their regional impacts. Donna highlights the diverse state and industry variables that shape rate adequacy, emphasizing how payroll growth—driven by headcount and wage increases—supports the workers compensation system amid declining loss costs. Stephen explains NCCI’s Workers Compensation Weighted Medical Price Index, which offers a more precise view of medical inflation unique to the workers compensation industry, contrasting it with broader economic inflation trends. Together, they underscore how a blend of economic insights and actuarial expertise leads to more informed ratemaking decisions that account for local labor market nuances and evolving conditions across the industry. Tune in today for an episode packed with thought leadership and actionable insights.
Learn More Here:
- NCCI industry information section for access to data tools and resources.
- NCCI INSIGHTS section for articles on economic and industry trends, including
- 2024 in Sight, 2023 in Review and other thought leadership reports.
- Medical Inflation Insights - October 2024 and NCCI’s Workers Compensation Weighted Medical Price Index (WCWMI)
- Quarterly Economics Briefing
- Labor Market Insights
Mentioned:
Donna Glenn, LinkedIn, NCCI Website
Stephen Cooper, LinkedIn, NCCI Website
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
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Insurance Information Institute
All Eyes on Research is a podcast miniseries by the insurance information institute. This series invites guests, each of whom are Triple-I Non-Resident Scholars, to discuss their findings and the importance of research with Dr. Michel Léonard, Triple-I Chief Economist and Data Scientist and Marina Madsen, Triple-I Economic Research Analyst. They have thoughtful and actionable conversations about front line research surrounding topics such as insurance, economics, and climate. The hosts and guests give listeners opportunities to truly engage with scholar’s current and upcoming research projects and publications.
What You’ll Hear in This Episode:
In this episode of All Eyes on Research, Dr. Michel Léonard talks to Dr. Scott Shackelford, Provost Professor of Business Law and Ethics at the Indiana University. Scott also serves as the Executive Director of the Ostrom Workshop and the Center for Applied Cybersecurity Research. The two discuss how Scott’s background in political science, law, and cybersecurity bolsters his research in software resilience, security governance, the internet of things and space cybersecurity, to mention a few. Michel poses questions such as: with our current geopolitical landscape and in the context of these key cyber trends, which poses the largest risk? And What was the worst decision made in the history of cyber? The conversation turns to the impact of these trends on the insurance industry, the environment and supply chain security. Tune in for this knowledge and research packed episode.
Mentioned Books and Research:
Forks in the Digital Road: https://global.oup.com/academic/product/forks-in-the-digital-road-9780197617779
The Metaverse: https://global.oup.com/academic/product/the-metaverse-9780197759431?cc=us⟨=en&
Upcoming book: Securing Democracy in the Digital Age
Moving slow and fixing things: https://www.lawfaremedia.org/article/moving-slow-and-fixing-things
Register for the Non-Resident Scholar’s Webinar featuring Scott and other scholars: https://event.on24.com/wcc/r/4761438/0415E2629DDDE5F23AEC41BF55FEC304
Mentioned:
Dr. Scott Shackelford, LinkedIn, Email, CACR website, Ostrum Workshop website
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the insurance information institute providing different perspectives on the intersection of economics and business strategy in insurance and financial sectors. Thoughtful and actionable, Dr. Léonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr. Léonard interviews Insurance Research Council (IRC) Chairman and Vice President General Manager of Liberty Mutual’s Product Management Organization, Mike Robon. Michel and Mike tackle key questions to the industry like “How do we make insurance affordable?” “Why should we care about tort reform?” and “What is the role of economists and data driven decisions in insurance today?” Listen in to hear Mike’s perspective as Board Chair of the IRC and as an insurance leader and how that perspective contributes to the work he does every day.
Learn more about the Insurance Research Council by visiting the IRC website or emailing Dale Porfilio.
Mentioned:
Mike Robon, LinkedIn, Liberty Mutual website, Mike's Email
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
Description:
All Eyes on Research is a podcast miniseries by the insurance information institute. This series invites guests, each of whom are Triple-I Non-Resident Scholars, to discuss their findings and the importance of research with Dr. Michel Léonard, Triple-I Chief Economist and Data Scientist and Marina Madsen, Triple-I Economic Research Analyst. They have thoughtful and actionable conversations about front line research surrounding topics such as insurance, economics, and climate. The hosts and guests give listeners opportunities to truly engage with scholar’s current and upcoming research projects and publications.
What You’ll Hear in This Episode:
In this episode of All Eyes on Research, Triple-I Economic Research Analyst Marina Madsen interviews meteorology professor in the Department of Earth, Atmosphere and Environment at Northern Illinois University and leading expert in convective storm research, Dr. Victor Gensini. Marina and Victor discuss the encroaching threat of convective storms to businesses and individuals alike. They delve into insurance implications of climate change and the evolving threat of hail, highlighting how patterns such as urbanization only amplify risk and future losses. Finally, Victor focuses on the importance of research, and shares with the audience the exciting projects he is currently working on.
Acronyms used in this episode:
SCS: Severe convective storms
NOAA: National Oceanic and Atmospheric Administration
ICECHIP: Institute Collaborative Experiment for the Collection of Hail in the Plains
CIRCS: Center for Interdisciplinary Research on Convective Storms
Triple-I’s Resources on Convective Storms:
Severe Convective Storms: State of the Risk
Severe Convective Storms White Paper
Mentioned:
Dr. Victor Gensini, LinkedIn, CIRCS Website
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Research is a podcast miniseries by the insurance information institute. This series invites guests, each of whom are Triple-I Non-Resident Scholars, to discuss their findings and the importance of research with Dr. Michel Léonard, Triple-I Chief Economist and Data Scientist and Marina Madsen, Triple-I Economic Research Analyst. They have thoughtful and actionable conversations about front line research surrounding topics such as insurance, economics, and climate. The hosts and guests give listeners opportunities to truly engage with scholar’s current and upcoming research projects and publications.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr. Leonard speaks to 30-year insurance industry veteran Seth Rachlin, who is now a Professor of Political Science and Social Data Science at Arizona State University. Seth and Michel delve into some of the biggest questions in insurance, discussing trends in insurance affordability and availability, the benefits of mutualization, the inevitability of moral hazard, and the increasing spreads between rates. They have an incredibly thoughtful exchange about how these themes affect the industry: as a whole and right down to individual policy owners.
Mentioned:
Seth Rachlin, LinkedIn, Seth.Rachlin@asu.edu
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in the insurance and financial sectors. Thoughtful and actionable, Dr. Léonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr. Léonard interviews Russ Johnston, Nationwide’s President of Commercial lines, Excess and Surplus and Specialty. They discuss the findings of Nationwide’s 2024 Economic Impact Survey, focusing on how small and medium-sized businesses feel about and are adapting to the current economic environment. Russ provides insights into the importance of property, general liability, and workers' compensation insurance for these businesses while addressing some of their top concerns such as energy costs, supply chain disruptions, inflation, raw material expenses, and high interest rates. Michel and Russ discuss strategies for protecting businesses from legal challenges and cyber threats and explore insurance solutions for these leading concerns.
More on the 2024 Nationwide Economic Impact Survey here:
- Nationwide survey on newsroom - https://news.nationwide.com/business-owners-are-upbeat-despite-economic-and-employee-hurdles/
- Agency Forward article - https://agentblog.nationwide.com/commercial-insights/general-industries/inflation-and-other-issues-deflating-economic-sentiment/
Survey Key findings:
Nationwide’s recent survey with small- and mid-market business owners found that there’s high concern around the national economy, however, business owners are more optimistic the closer you get to their specific region, industry, or business. 73% of mid-market owners and 51% of small business owners rate the conditions for their own business as good or excellent today.
Mentioned:
Russ Johnston, LinkedIn, Nationwide Website
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in the insurance and financial sectors. Thoughtful and actionable, Dr. Michel Léonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr. Léonard interviews Dr. Robert Hoyt, Moore Chair and Professor of Risk Management and Insurance at the University of Georgia. Michel and Rob delve into insurance education. Michel’s thoughtful questions and Rob’s insights and academic perspective combine in this episode for an informed and engaging conversation about economics in insurance education. At UGA, the Risk Management and Insurance program weaves fundamental economic principles and theories into each student’s education. As Rob emphasizes, it is critical to integrate insurance and economics. Michel and Rob also discuss the PhD program, the emphasis on internships, the integral capstone course, and the alumni network. All of which contribute to UGA students’ success in the industry. Make sure to listen until the end for more information about an upcoming job fair and climate risk initiative.
Some key topics Rob’s students learn about:
- Inflation
- Flood Insurance
- Risk selection
- Moral hazard
- Adverse selection
- Supply chains
- Auto insurance
Get more information…
- About the 48th Annual Risk and Insurance Careers Day
o https://www.terry.uga.edu/events/rmi-careers-day/
o October 2, 2024
- About the NSF-Sponsored Climate Risk initiative
o https://circad.org/
Mentioned:
Rob Hoyt, LinkedIn, Risk Management Program Homepage
Dr. Michel Leonard, CBE LinkedIn, Triple-I Website
Marina Madsen LinkedIn, Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in insurance and financial sectors. Thoughtful and actionable, Dr. Michel Léonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr. Michel Léonard speaks to Bob Valliere, Chief Operations Officer at CSAA Insurance Group. Bob and Michel discuss the importance of economic analysis in making insurance decisions; highlighting how CSAA considers inflation, changes in supply, and other economic indicators when pricing. Bob describes CSAA’s relationship with AAA and their community-driven, not-for-profit model. Michel questions Bob about how CSAA has been able to successfully anticipate the costs of insurance while maintaining economic stability, and Bob stresses the importance of leveraging the best and most up-to-date data to make informed decisions.
Watch CSAA’s Rick Astley Campaign here:
https://www.youtube.com/watch?v=GtL1huin9EE
Mentioned:
Bob Valliere, LinkedIn, CSAA website
Dr. Michel Leonard, CBE LinkedIn, Triple-I Website
Marina Madsen LinkedIn, Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in insurance and financial sectors. Thoughtful and actionable, Dr Léonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr. Michel Léonard speaks to Tom Beers, Executive Director of the National Association for Business Economics (NABE). They navigate through a conversation about NABE’s mission and contributions while also analyzing the evolution of the economics profession. Tom highlights the important role of economics in many sectors such as technology and consulting, and Michel, as both Economist and Data scientist serves as a direct example as to how integrated economics and data science are. Tune in to learn more about the opportunities NABE provides for economists today.
Acronyms Used During This Week’s Episode:
- Triple-I: The Insurance Information Institute
- NABE: National Association for Business Economics
Upcoming NABE events & links:
- 66th NABE Annual MeetingSeptember 29 - October 1, 2024 Grand Hyatt Nashville Nashville, TN
- 14th Annual NABE Transfer Pricing SymposiumJuly 16-18, 2024 Four Seasons Hotel Washington, DC
- 21st Annual NABE Foundation Economic Measurement SeminarJuly 15-16, 2024 Four Seasons Hotel Washington, DC
- TEC2024: 8th Annual NABE Tech Economics Conference & Industry Job FairOctober 27-29, 2024 The Westin Seattle Seattle, WA
- Join NABE here: https://nabe.com/NABE/NABE/Membership/Main_Membership.aspx?hkey=37d15b9d-86b1-49bc-ac37-c8b40373cc38
Mentioned:
Guest, Tom Beers, LinkedIn, NABE Website
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in insurance and financial sectors. Thoughtful and actionable, Dr. Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr. Leonard speaks to Shawn Moura, Senior research director at NAIOP, The Commercial Real Estate Development Association. Shawn and Michel have a thoughtful researched conversation about the commercial real estate market; specifically looking at trends surrounding office space demand. NAIOP recently released their second quarter office space demand forecast which is publicly available and can be viewed at the link below. They also discuss the future of the retail market and how American worker’s priorities are impacting the future success of offices, retail, and construction.
View the NAIOP second quarter office space demand forecast here: https://www.naiop.org/research-and-publications/research-reports/reports/office-space-demand-forecast-2q24/
Acronyms Used During This Week’s Episode:
-
Triple-I: The Insurance Information Institute
-
NAIOP: short for NAIOP, The Commercial Real Estate Development Association
Mentioned:
Guest, Shawn Maura, LinkdIn, NAIOP website, NAIOP Research Reports, Email Shawn
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in insurance and financial sectors. Thoughtful and actionable, Dr. Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr. Leonard speaks to Pete Miller, President and CEO of The Institutes. Pete and Michel discuss the relationship between economics and insurance and the role AI plays in the evolving insurance landscape. Pete shares his expert perspective as a leader in the industry to answer questions about how important topics like replacement costs and inflations are to industry executives and boards. Pete also highlights some of The Institute’s great resources such as education courses, newsletters, and events. Turning toward innovation, Michel and Pete dive into a discussion about generative AI and the various opportunities it presents for the growth and transformation of the industry.
Listen to Pete Miller’s Podcast, Predict and Prevent, here:
https://www.predictandprevent.org/podcast/introducing-predict-prevent/.
Try out one of The Institute’s Free courses here:
https://web.theinstitutes.org/free-courses
Acronyms Used During This Week’s Episode:
- Triple-I: The Insurance Information Institute
- TI: The Institutes
- AI: Artificial Intelligence
Mentioned:
Guest, Pete Miller, LinkedIn, The Institutes Website
Dr. Michel Leonard, CBE LinkedIn, Triple-I Website
Marina Madsen LinkedIn, Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in the insurance and financial sectors. Thoughtful and actionable, Dr. Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy. What You’ll Hear in This Episode: In this episode of All Eyes on Economics, Dr. Michel Leonard, CBE, speaks to Jeff Czajkowski, Director of the Center for Insurance Policy and Research at the National Association of Insurance Commissioners. Michel and Jeff engage in a detailed discussion about the translation of technical economic research into broadly consumable content. Both holding PhDs in Economics, Michel and Jeff connect over their shared background and the current challenges researchers face in relating content including macro-economic trends, investments, and solvency requirements, to regulators and other industry stakeholders. Specifically, Michel asks Jeff about several initiatives such as Community 360, macro credential risk assessment, and the CIPR NAIC dashboards, which are essential in explaining and understanding climate risk and modeling. They discuss how each of these economic tools contributes to both building consensus among researchers and appealing to the regulatory perspective.
Acronyms Used During This Week’s Episode: ● Triple-I: The Insurance Information Institute ● CAT: Catastrophe Risk ● CIPR: Center for Insurance Policy and Research ● NAIC: National Association of Insurance Commissioners ● ACLI: American Council of Life Insurers ● CAT COE: Catastrophe Modeling Center of Excellence (COE) Mentioned: Jeff Czajkowski, CIPR LinkedIn, CIPR website Dr. Michel Leonard, CBE LinkedIn , Triple-I Website Marina Madsen LinkedIn , Triple-I Website
Say Hi: Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in the insurance and financial sectors. Thoughtful and actionable, Dr. Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr. Leonard speaks to Sandra Rampersaud, President and CEO of Vespiary Realty and Aequitas Risk Solutions. Sandra brings a unique perspective to the conversation as both a relator and insurance broker. She highlights how key it is to take insurance into consideration when purchasing a home, especially as a first-time homeowner.
Mentioned:
Sandra Rampersaud, LinkedIn, Vespiary, Aequitas
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in the insurance and financial sectors. Thoughtful and actionable, Dr. Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr. Leonard joined Insurance Thought Leadership Editor in Chief, Paul Carroll, for one of ITL’s quarterly chats. Paul and Michel discuss the US economy at large, and the FED’s economic outlook. They then delve into the factors that contribute to the FED’s and Triple-I’s economic projections on Inflation and economic growth. Also in this episode, you will get an up-close look at economic conditions for commercial property growth and commentary on how we look at today’s growth in the context of the past few years.
Acronyms Used During This Week’s Episode:
- Triple-I: The Insurance Information Institute
- ITL: Insurance Thought Leadership
- FED: Federal Reserve Board
Mentioned:
Paul Carroll LinkedIn, ITL Website, ITL newsletter
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in the insurance and financial sectors. Thoughtful and actionable, Dr. Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr Michel Leonard, CBE, speaks with Dale Porfilio, Chief Insurance Officer at the Insurance Information Institute, and President of the Insurance Research Council (IRC). Michel and Dale discuss the intersection of economic trends and underwriting - and their own collaboration at the Triple-I to bridge actuarial and economic analysis and deliver insight to the Triple-I’s members through models, indices, and forecasts.
Acronyms Used During This Week’s Episode:
- Triple-I: The Insurance Information Institute
- IRC: Insurance Research Council
- P&C: Property and Casualty
Mentioned:
Dale Porfilio LinkedIn , Triple-I Website , IRC Website
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in the insurance and financial sectors. Thoughtful and actionable, Dr. Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr. Michel Leonard, CBE, speaks with Ken Simonson Chief Economist of the Associated General Contractors of America and past president of the National Association for Business Economics (NABE). Michel and Ken discuss the role of economists in trade associations and their contribution to shaping economic policy. Expanding on this, Michel asks Ken about the changing role of business economists in finance and corporate settings and what economists can do to continuously adapt to deliver actionable insight to non-economist colleagues.
Acronyms Used During This Week’s Episode:
- Triple-I: The Insurance Information Institute
- NABE: National Association for Business Economics
- AGC: Associated General Contractors of America
- FRED: Federal Reserve Economic Data
Mentioned:
Ken Simonson ken.simonson@agc.org , LinkedIn, AGC Website , NABE Website , AGC Data Digest
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in the insurance and financial sectors. Thoughtful and actionable, Dr. Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr Michel Leonard, CBE, speaks to Josh Landau, President of the International Insurance Society, affiliated with The Institutes and Corporate Banking Group head of the Financial Institution Group at Fifth Third Bank. Michel and Josh discuss the IIS’s mission to foster greater collaboration amongst insurance thought leaders from around the world - and the role economists and economic research play in shaping timely narratives.
Acronyms Used During This Week’s Episode:
- Triple-I: The Insurance Information Institute
- IIS: International Insurance Society
- FIG: Financial Institutions Group
- ESG: Environmental, Social and Governance
Mentioned:
Josh Landau LinkedIn , IIS Website , FIG Website
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in the insurance and financial sectors. Thoughtful and actionable, Dr. Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr Michel Leonard, CBE, speaks to Reporter Aaron Smith, Life and Annuity. Michel and Aaron discuss the changing needs of Aaron’s audience in how to understand the impact of economic trends on life policy value, returns and pricing, as well as the impact of wider economic trends on the financial health of the life insurance industry.
Acronyms Used During This Week’s Episode:
- Triple-I: The Insurance Information Institute
- ACLI: The American Council of Life Insurance
- CPI: Consumer Price Index
Mentioned:
Aaron Smith LinkedIn , Life Annuity Specialist Website
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in insurance and financial sectors. Thoughtful and actionable, Dr. Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
This week on All Eyes on Economics, our host, Dr Michel Leonard, CBE, and John Minor, Structured Credit and Political Risk Practice Leader at Aon, discuss the role of political risk insurance in mitigating economic and geopolitical risks around the world.
Acronyms Used During This Week’s Episode:
- Triple-I: The Insurance Information Institute
- P&C: Property and Casualty
- DFC: International Development Finance Corp
- Formerly OPIC: Overseas Private Investment Corporation
- MIGA: Multilateral Investment Guarantee Agency, a World Bank Group member
Mentioned:
John Minor LinkedIn , Aon Website
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in insurance and financial sectors. Thoughtful and actionable, Dr. Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr Michel Leonard, CBE, speaks to Robert Gordon, Senior Vice President, Policy, Research, and International at APCIA. Michel and Robert discuss the role of economists in policy-making, especially in contributing to shaping policy for trade associations such as APCIA - and how economic research can be used to challenge established narratives to foster better policy.
Acronyms Used During This Week’s Episode:
- Triple-I: The Insurance Information Institute
- APCIA: American Property Casualty Insurance Association
Mentioned:
Robert Gordon LinkedIn , APCIA Website
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in insurance and financial sectors. Thoughtful and actionable, Dr. Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr Michel Leonard, CBE, speaks to Sean Kevelighan, Chief Executive Officer of the Insurance Information Institute. Michel and Sean discuss how economic drivers are key to the success of the insurance industry and its contribution to building more sustainable communities. They bring up Triple-I tools that translate economic trends into actionable insight for insurance practitioners and their contribution to the Triple-I mission of providing data-driven insight to industry stakeholders.
Acronyms Used During This Week’s Episode:
- Triple-I: The Insurance Information Institute
- IRC: Insurance Research Council
- FED: Federal Reserve Board
- ECB: European Central Bank
Mentioned:
Sean Kevelighan, LinkedIn , Triple-I Website
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
All Eyes on Economics is a podcast series by the Insurance Information Institute providing different perspectives on the intersection of economics and business strategy in insurance and financial sectors. Thoughtful and actionable, Dr Leonard and his guests engage in lively exchanges about how business leaders integrate economics into their wider growth strategy - and how economics is delivering tools that specifically match business needs in today’s challenging economy.
What You’ll Hear in This Episode:
In this episode of All Eyes on Economics, Dr Michel Leonard, CBE, speaks with Jennifer Kyung, Property and Casualty Chief Underwriting Officer at USAA; Chair of ELC. Michel and Jen discuss the intersection of economic trends and underwriting - and the need to integrate economic analysis in growth and replacement costs assumptions has become even more critical to successful underwriting in today’s great economic uncertainty.
Acronyms Used During This Week’s Episode:
- Triple-I: The Insurance Information Institute
- ELC: Triple-I’s Executive Leadership Committee
- USAA: United Services Automobile Association
Mentioned:
Jennifer Kyung LinkedIn , USAA Website
Dr. Michel Leonard, CBE LinkedIn , Triple-I Website
Marina Madsen LinkedIn , Triple-I Website
Say Hi:
Insurance Information Institute
Tasha Fuller is the CEO and Co-Founder of FloodFrame UA, based out of Houston Texas. Born in Denmark, Tasha saw the need for a way to protect homes and commercial sites from flooding after seeing the devastation of flooding firsthand in Houston. She combined her skills as an engineer with her father’s business background to bring FloodFrame to the US. In this episode, she talks about the technology behind FloodFrame and why it works so well, how it can help with flood mitigation and prevention, and how FloodFrame uses innovation to make its product more accessible for everyone.
What You’ll Hear In This Episode:
- How does FloodFrame help protect people and their property against flooding? How does it help with flood mitigation?
- Tasha combined her background as a Civil Engineer with her father’s experience in business to take the technology they saw in Denmark and bring it over to the United States.
- What were some of Tasha’s emotional takeaways from spending time with family in Houston as their neighborhood flooded during Hurricane Harvey?
- How does the FloodFrame technology work, and how high can it go to protect a home or commercial property? What is the installation process?
Mentioned:
FloodFrame USA
Tasha
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Insurance Information Institute
Our guest this week got a firsthand glimpse at the devastation that extreme weather can cause, and the need to protect your belongings as an individual. Rahel Abraham is the Founder and CEO of ClimaGuard, a multi-purpose, state-of-the-art tool for flood protection. Rahel first talks about her experience as a victim of Hurricane Harvey in Houston, when her car was totaled, and how she saw the need to design a product that guards against the economic and personal effects of flooding.
What You’ll Hear In This Episode:
- Rahel discusses how ClimaGuard was born out of her personal experience during Hurricane Harvey.
- The key to ClimaGuard’s value proposition is also that it is structured for one person to set up and guard their belongings.
- What are the many different applications to which ClimaGuard can be used?
- Over 40 million Americans live in a flood zone, but 25% of those areas that flood are not designated flood zones. It’s important to be prepared, even if you think a flood can’t happen to you.
- How Rahel created incredible pricing for ClimaGuard.
- ClimaGuard provides a benefit to not just the household owner, but also the insurance companies, the fleet vehicle companies, and those that do not want to claim a loss because rebuilding and restocking also takes time and money.
Mentioned:
ClimaGuard: Twitter | Instagram | Facebook
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Insurance Information Institute
We have a great talk this week with Subarna Bhattacharyya, Co-Founder, and CEO of Climformatics Inc. Subarna talks about the work that she and Climformatics are doing in forecasting extreme weather, specific conditions that are conducive to wildfires. She talks about the unique models they have developed including the AI algorithm, what the dynamic nature of this predicting model is, and how it can help us in real-time situations. Towards the end of the episode, Subarna gives her advice for women business owners to stay motivated and inspired despite facing challenges.
What You’ll Hear In This Episode:
- Climformatic’s general mission is to predict future climate to drive better business decisions.
- How are they able to predict things like wildfires long before the fire actually happens?
- What is the dynamic nature of the model, and how can it help us create forward predictive climate data?
- Why has it taken us so long to get to the point where we can do this level of analysis?
- Subarna shares some big wins for Climforatics when it comes to sustainable technology solutions to cities.
Mentioned:
United Nations Disaster Risk Resiliency Chapter
Climformatics
Subarna
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Insurance Information Institute
We are joined this week with Richard McCathron, President of Hippo Insurance. He talks about why Hippo is a different type of insurance company, the innovations that Hippo Insurance is working on and the technology that supports it. He looks into his crystal ball for what he thinks is coming up not only for Hippo but innovation in the insurance space.
What You’ll Hear In This Episode:
- When you sell insurance, you are selling the promise that when something goes wrong, we will take care of you. How does Hippo do this in a unique way?
- Hippo’s view is to avoid the claim entirely, but what technology do they use to accomplish this?
- Proactive things Hippo does for customer experience that can mitigate claims.
- How they deal with the educational components of helping their clients.
- What Hippo does to proactively double down on the risk mitigation of preventative service, proactive maintenance, and really help customers in that vertical of home insurance and home protection.
Mentioned:
Richard McCathron
Hippo Home Insurance
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Insurance Information Institute
Kyle Beatty, Managing Director at American Family Ventures, joins the show this week. Kyle shares some great perspectives on how he has seen the industry transform itself, what innovation he is most excited about, and what challenges he sees coming up in the future that will need our extra attention. Kyle shares his approach of evaluating opportunities when it comes to funding companies, new technologies, and ideas that will drive insurance innovation.
What You’ll Hear In This Episode:
- The two lenses through which American Family Ventures looks to evaluate companies.
- Kyle discusses some of the innovations and technology he has seen grow out of the traditional forms of insurance distribution.
- Kyle’s lessons learned that he would have for carriers to effectively partner with startups or insurance tech companies.
- What is the biggest thing that Kyle coaches carriers to think about when it comes to developing a strong and consistent team?
Mentioned:
Kyle Beatty
American Family Ventures
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Insurance Information Institute
We have a great show this week with Beti Cung, Director of Innovation Labs at CSAA Insurance Group. Beti talks about the great work they have been doing at the Innovation Labs, how they pick their projects, and a few concrete examples of work they are currently doing. Beti discusses how a lot of insurers are using technology to save time and money, but the challenges we must be aware of when working with AI. Beti’s job is to help make the exciting new developments also become realistic and practical.
What You’ll Hear In This Episode:
- How do Beti and her team at CSAA determine the projects they are working on?
- What is Beti’s true north when approaching a new technology?
- What is the typical length of a project?
- How does CSAA engage the underwriters and heads of business in a way that keeps their excitement yet also provides value?
- What should we know for the future about the exponential growth of the cyber insurance market?
- Beti and her team are always curious and continue to consistently ask the right questions to gather the right data.
- Beti shares examples of projects where they made sure they have enough data, and the right applications of how we use technology.
- What are the steps Beti and her team take when taking on a new experiment?
Mentioned:
Beti Cung
CSAA Insurance
Gartner Hype Cycle
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Insurance Information Institute
We are thrilled to welcome Richard Seline to our show this week. Richard is the Co-Founder of the Resilience Innovation Hub and Managing Partner of Resilient H20 Partners. Based in Houston, Texas, Richard has had a long career in public service in the private sector, and we appreciate him sharing a few golden nuggets from his experience. Richard focuses on the innovation investment value proposition, how he defines success, and why we need to not just be a “think tank” but “do think”.
What You’ll Hear In This Episode:
- Richard is passionate about resilience and has seen both immense damage and the opportunities that are out there. What has been the most inspiring to him?
- With $50 to $75 million deployed in about 7 to 10 projects, what are the two elements of this investment, and how does Richard define success?
- What are some of Richard’s favorite elements in the partnership with III?
- Richard talks about his joy in bringing together public assets with philanthropy.
- How is the data work driving resilience in investing?
- What are ways you can connect with Richard and his team at the Resilience Innovation Hub?
Mentioned:
Richard Seline
Resilience Innovation Hub
Nature Conservancy
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Insurance Information Institute
In this episode, Michel welcomes his good friend, Charlie Sidoti, Executive Director of InnSure. Charlie discusses what’s new both with himself professionally and InnSure, and the programs they have coming up that encourage innovation and leadership within the insurance. Charlie talks about his recent course with MIT, and how they are accomplishing their mission is to bring ideas from the blue sky to blueprint.
What You’ll Hear In This Episode:
- Charlie tells us more about InnSure and its current initiatives and solutions projects.
- As a non-profit, what is InnSure’s mission in the industry? How does innovation play a role?
- What is the “connect, learn, and solve” strategy?
- Charlie’s work has a transformative impact on the world, but he is based out of Cambridge. How does his location affect his ability to bridge academic institutions and the industry, while remaining true to his innovative roots?
- How does Charlie define success for specific projects and for InnSure as a whole?
- What does Charlie think is the low-hanging fruit vs. the more transformative technology innovation ideas that we will see in the next year or two?
Mentioned:
Charlie Sidoti | charlie@innsure.org
InnSure
Cambridge Innovation Center
Leadership Academy
Phil Budden
Welcome to the Insurance Information Institute's innovations podcast series, where we showcase promising technologies, incubators, convening groups, and much more. In this series, we will also be talking about transformative technology and innovation in areas that help us do our jobs better and connect as a society. To kick off the series, we welcome legends in Silicon Valley, Natalie Wood and Mike Connor of Silicon Valley Insurance Accelerator. They discuss the trends in technology and share more about their exciting new initiative, NewTech Match, and how it is created to be a multi-purpose tool for investors, vendors, users, and creators to connect.
What You’ll Hear In This Episode:
- What is NewTech Match, how was it created, and why did Natalie and Mike see a need for it in the market?
- What are the three parts of the pillar that Natalie and Mike see in new tech trends?
- How can users take advantage of the Innovation Resource Center in NewTech Match?
- Who are NewTech Match’s target users, and how can they start using this tool?
- How can NewTech Match help issues we face as a society, both culturally and environmentally?
Mentioned:
Silicon Valley Insurance Accelerator
NewTech Match
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Insurance Information Institute