Insurance Journal

AUGUST 18, 2024

P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time since 2021. By Susanne Sclafane S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S. According to the analysis, private …

Underwriting 246

Underwriting Underwriter Insurance Industry Insurance 246

Insurance Journal

SEPTEMBER 24, 2024

In the ever-evolving insurance industry, data analysis has become a cornerstone of the underwriting process. By leveraging data, underwriters can make more informed decisions, assess risks more accurately, and improve … This post is part of a series sponsored by Selectsys.

Underwriting 130

Underwriting Underwriter Insurance Industry Risk 130

Insurance Journal

AUGUST 7, 2024

In the insurance industry, managing general agents (MGAs), managing general underwriters (MGUs), and program administrators (PAs) fill a critical role in facilitating the distribution and administration of specialized insurance products. This post is part of a series sponsored by Dyad.

Underwriting 245

Underwriting Underwriter Agents Insurance Industry 245

Insurance Journal

SEPTEMBER 23, 2024

The Florida Surplus Lines Association, which notes it provides a safety valve for Florida’s property insurance industry, named new officers for 2024-2025 at its recent annual convention in Tampa. President: Virginia Clancy, TAPCO Underwriters President-elect: Albert Geraci, Risk Placement Services …

Underwriting 263

Underwriting Underwriter Property Insurance Insurance Industry 263

Triple-I: Homeowners Insurance

OCTOBER 10, 2024

property and casualty insurance industry experienced better-than-expected economic and underwriting results in the first half of 2024, according to the latest forecasting report by Triple-I and Milliman. The industry’s estimated net combined ratio of 99.4 The industry’s estimated net combined ratio of 99.4

Commercial 49

Commercial Underwriting Underwriter General Liability 49

Majesco

AUGUST 8, 2024

The business value of intelligent, AI-powered underwriting solutions, business processes and operating models is driving operational efficiencies, productivity, and profitability. As reflected in Majesco’s 2022 Strategic Priorities Research , 25-30% of insurers have implemented a digital underwriting workbench.

Underwriting 66

Underwriting Underwriter Insurance Insurer 66

Insurance Journal

JULY 15, 2024

Favorable first-quarter economic and underwriting results for property/casualty insurance are in line with projections that the industry will see a small underwriting loss in 2024 and achieve profitability in 2025, according to a report from the Insurance Information Institute (Triple-I) …

Premium 277

Premium Casualty Insurance Underwriting Underwriter 277

Brokers’ Service Marketing Group

JULY 27, 2023

In those instances where the case submitted isn’t as black and white as one would hope, a well thought out cover letter inclusive of case details will aid in the underwriting process. We worked with our underwriters at Lincoln Financial to provide some guidelines

Underwriting 52

Underwriting Underwriter Life Insurance Insurance Industry 52

Insurance Journal

SEPTEMBER 11, 2024

Meister has more than 36 years of experience in the insurance industry, including underwriting leadership, program management and broker … Meister Joins Sertis as SVP, Distribution Partnerships Sertis, headquartered in Reno, Nevada, appointed Kurt Meister as senior vice president, distribution partnerships.

Underwriting 147

Underwriting Underwriter Broker Insurance Industry 147

Redbird Agents

SEPTEMBER 4, 2024

Attending insurance conferences is a strategic move for any professional in the insurance industry, whether you are an established agent or new to the field. Networking Opportunities: Building a strong professional network is crucial in the insurance industry.

Agents 130

Agents Insurance Industry Insurance Insurer 130

Prof. Allan Manning

FEBRUARY 24, 2023

During that time we have assisted thousands of claimants with their claims, and introduced world leading online services that take the lessons learned from claims, and use them to assist brokers and underwriters be better at their job, and to move the emphasis from price to protection.

Insurance Industry 130

Insurance Industry Business Interruption Claim Insurance 130

Rough Notes

AUGUST 1, 2024

Using cognitive AI processes, CogniSure gives the insurance industry automated data structuring “[The AI platform can convert] 100-page loss runs into something that an underwriter or broker can make sense of within minutes without somebody manually keying.” —Sai

Underwriting 52

Underwriting Underwriter Insurance Industry Insurance 52

Accenture: Cyber Insurance

NOVEMBER 30, 2021

As we wrap up 2021, it seems appropriate to revisit predictions we made for the insurance industry this year. I put forward my hypotheses last December in my post, 5 predictions for the insurance industry in 2021. Let’s see how those predictions held up. 1.

Insurance Industry 52

Insurance Industry Insurance Insurer Insured 52

Distinguished

JULY 8, 2024

A: There are several important considerations including: Specialty coverage that caters to the hotel industry risks and exposures. Underwriters with hospitality industry knowledge and expertise. Our underwriters will look at the security the hotel has in place. Q: Will Distinguished write exterior door hotel locations?

Insurance Broker 52

Insurance Broker Broker Broker-Agent Inland Marine 52

Majesco

MAY 23, 2024

Insurance company profit margin results right now are like trying to keep water in a leaking bucket. Can insurers fill the bucket with the right premiums as fast as claims pour out potential profits? It’s about rethinking underwriting and claims as well as rethinking risk resilience. This is a reaction, not a long-term solution.

Risk 40

Risk Underwriting Underwriter Insurance 40

Agency Revolution

AUGUST 21, 2024

Dan brings over 25 years of extensive experience and leadership expertise within the Property and Casualty insurance sector. Prior to joining Agency Revolution, Dan spent 20 years at Nationwide where he served in management roles for commercial underwriting, loss control, sales automation and technology, and business architecture.

Broker-Agent 105

Broker-Agent Insurance Carrier Casualty Insurance Insurance Agents 105

Majesco

JUNE 13, 2024

The world and the economy have handed insurers a tough equation. Can actuaries, underwriters, and business leaders get back on top and win the combined ratio game? For several years, the insurance industry has been focused (and rightly so) on the customer experience. The issue becomes much larger when we look at trends.

Risk 40

Risk Underwriting Underwriter Insurance 40

American Agents Alliance

JULY 5, 2024

And when it comes to the insurance industry, having data and using it well has become a differentiator. Improve underwriting accuracy using data. Predictive analytics can help improve the accuracy of risk assessments during underwriting. Data helps drive business decisions, define strategy, and develop ideas.

Risk 52

Risk Broker-Agent Agents Policyholder 52

Majesco

APRIL 25, 2024

Policy management flows smoothly from shortstop (underwriting) to second base (billing) to first base (customer service). Why is GenAI the hottest topic in the industry? Intelligent Sales & Underwriting: Optimize renewal cross-selling, streamline user maintenance, and simplify commissions for improved operational efficiency.

Underwriting 40

Underwriting Underwriter Premium Claim 40

Property Insurance Centre

JANUARY 4, 2024

Emerging Property Insurance Trends 2024 Welcome to our guide on emerging trends in the property insurance industry. As we dive into the evolving landscape of property insurance, it’s important to stay informed about the latest trends and challenges affecting the market.

Property Insurance 52

Property Insurance Commercial Property Liability Premium 52

Bankers Insurance

JULY 22, 2024

The Westfield Insurance Foundation, an independent private foundation endowed by Westfield, awards the donations to support their top agents’ local communities. said Ed Largent, Westfield president, CEO, board chair and Westfield Insurance Foundation chairman. Today, more than 175 years later, as a leading U.S.-based

Broker-Agent 52

Broker-Agent Insurance Insurer Insured 52

Final Expense Brokerage

MAY 10, 2024

You need to have a thorough understanding of different policy types, such as term life insurance, whole life insurance, and universal life insurance, to effectively advise clients on their options. Obtaining the Necessary Licenses and Certifications To become a life insurance agent, you must meet certain licensing requirements.

Life Insurance 100

Life Insurance Insurance Agent Insurance Agents Agents 100

Shield Insurance Agency

AUGUST 1, 2024

Shield Insurance Agency in Hudsonville, MI is now hiring! Now Hiring Insurance Customer Service Rep and Account Manager Duties: Provide timely, professional, accurate, communication to clients, your team, carrier representatives, and underwriters. Market account renewals.

Insurance Agency 52

Insurance Agency Insurance Insurer Insured 52

Agency Revolution

AUGUST 21, 2024

Dan brings over 25 years of extensive experience and leadership expertise within the Property and Casualty insurance sector. Prior to joining Agency Revolution, Dan spent 20 years at Nationwide where he served in management roles for commercial underwriting, loss control, sales automation and technology, and business architecture.

Broker-Agent 52

Broker-Agent Insurance Carrier Casualty Insurance Insurance Agents 52

Redbird Agents

AUGUST 28, 2023

Check References and Reviews: Ask for references from other insurance agency owners or independent insurance agents who have worked with the IMO. Check online reviews and social media to get a sense of the IMO’s reputation in the insurance industry. What constitutes a life insurance IMO?

Insurance Agency 130

Insurance Agency Insurance Carrier Insurance Agent Insurance Agents 130

InsuredMine

MAY 2, 2024

Or what if your home insurance could send you alerts about potential risks and offer customized coverage options? These kinds of innovative services are becoming a reality thanks to insurtech, the use of technology to revolutionize the insurance industry. You might be thinking, “APIs?

Insurance 52

Insurance Insurer Insured Insurance Industry 52

Triple-I: Business Insurance

JUNE 8, 2022

With this in mind, 73 percent of policyholders said they consider climate change one of their primary concerns, compared with 40 percent of insurers. “Insurers who prioritize focus on sustainability will be making smart long-term business decisions that will positively impact their future relevance and growth.

Policyholder 40

Policyholder Risk Underwriting Underwriter 40

Scott Insurance

JANUARY 28, 2022

While insurance coverage is typically relied upon for many property-related losses, there remains a disconnect about how mold claims are often handled by the insurance industry. Underwriting is extensive and involves separate applications/questionnaires and an extensive review of historical claims.

General Liability 52

General Liability Deductible Liability Property Damage 52

InsuredMine

MARCH 26, 2024

The insurance industry finds itself on the cusp of a transformative era, propelled by technological advancements that present both challenges and tremendous opportunities. Insurance companies recognize the imperative to invest in modern digital technologies to achieve their goals of cost reduction and revenue growth.

Insurance 52

Insurance Insurer Insured Insurance Industry 52

InsuredMine

JULY 19, 2024

Insurance agencies once focused primarily on assessing risks, underwriting policies, and managing claims. The Importance of Customer Retention The importance of customer retention in the insurance industry cannot be overstated. However, the landscape has shifted dramatically.

Risk 52

Risk Policyholder Insurance Insurer 52

Majesco

JULY 25, 2024

[i] This has generated a whole new business model that will rapidly separate Leaders from Followers, as Majesco pointed out in its Core Systems report , Realignment in Insurance: Legacy Core Impact. That’s the fascinating part about the application of GenAI and AI/ML within insurance. Mind the gap!

Insurance 40

Insurance Insurer Insured Underwriter 40

Jackson & Jackson

AUGUST 16, 2024

Why Homeowners Insurance in California is More Challenging in 2024 Changes in the Insurance Industry The insurance industry has been undergoing significant changes in recent years, and these changes have affected the availability and affordability of homeowners insurance in California.

Insurance 52

Insurance Insurer Insured Risk 52

Majesco

OCTOBER 10, 2024

Playing it safe by innovating against risk The insurance industry’s core business model that includes premiums, underwriting, billing, claims, reserves, and capital is not changing. But the operating model and how we think about the operating model needs to be reinvented.

Risk 40

Risk Auto Insurance Premium Underwriter 40

Majesco

JUNE 27, 2024

Part of the buzz is that the insurance industry is waking up to a realization that the operational models and technology foundations used for decades no longer meet the challenges and opportunities of today’s fast-changing world. AI/ML is great for underwriting, fraud, and servicing models, which was discussed in numerous panels.

Insurance Industry 40

Insurance Industry Risk Underwriter Underwriting 40

Scott Insurance

APRIL 21, 2020

Material Change in Risk Manufacturers & Distributors should prepare for the possibility of increased underwriting scrutiny. Materially modifying production and assembly lines to provide desperately needed PPE products could change risk considerations and impact an organization’s insurability.

Risk 40

Risk Liability Underwriter Underwriting 40

Majesco

MARCH 14, 2024

The insurance industry has its own set of trends, but in our case, it is important to distinguish between technology trends (such as cloud vs. on-premise) and pain point trends (such as increased risks and a growing number of retirements). They have created different models to support underwriting decisions, etc.

Insurance 40

Insurance Insurer Insured Building 40

Majesco

AUGUST 22, 2024

Insurance technology, like automotive technology, has been subject to much retrofitting. Out of necessity, the insurance industry has always been subject to incremental use of technology and innovation. So, Telsa went about creating a better, simpler manufacturing, purchasing, driving, and owning experience.

Insurance 40

Insurance Insurer Insured Underwriter 40