Captives/Risk Retention Claims Management Companies Data/Tech/Modeling INDUSTRY NEWS People Working in Risk & Insurance WRIN.tv Newswire “Talent and Data” present biggest challenges & opportunities to insurers – Crawford COO Rohit Verma, Global COO of Crawford & Company, believes data will continue to be a big asset to insurers, and the companies that can mine data effectively will see the biggest benefit. While advanced technology is necessary to leverage data, companies need to develop the mindset to incorporate insights in day-to-day work. Mr. Verma also sees “lack of talent” as … Read More
Claims Management CONSUMER RISK Data/Tech/Modeling FEATURED WRIN.tv Newswire Pendulum swings away from brands in favor of customers – Pypestream exec. Pypestream Chief Customer Officer, Donna Peeples, discusses realities insurers face as disruptive innovation creates greater symmetry between insurance companies and consumers. According to Ms. Peeples, in recent years, “the pendulum of control has swung hard away from brands in favor of customers.” Over the past hundred years, insurance has been a “low interest, low involvement category.” Insurers need to thing … Read More
Claims Management FEATURED Homeowner/Renter/Auto INDUSTRY NEWS Recent Stories Reinsurance Markets WRIN.tv Newswire Will 2017 be a record CAT year? – I.I.I. CEO comments. 2017 has been a very active year for catastrophes…and traditional seasons are shifting. That according to Sean Kevelighan, President and CEO of the Insurance Information Institute (I.I.I.). Mr. Kevelighan points to 367 tornadoes in the first quarter of 2017, which surpasses the average of 93 by a large margin. The I.I.I. had estimated an active hurricane season, and forecasts were … Read More
Auto/Marine/Aviation CONSUMER RISK Data/Tech/Modeling EMERGING TRENDS FEATURED Homeowner/Renter/Auto “Trifecta of Disruptive Trends” hitting auto insurance market. Over the past decade, a steady flow of disruptive forces has impacted the personal auto insurance market, including telematics, the sharing economy and autonomous vehicles. AAIS Auto Product Manager Casey Brewer discusses how they are reshaping the Personal Auto insurance market, and myriad challenges and opportunities it creates for carriers. Telematics programs provide insurers with access to vast amounts … Read More
Claims Management COMMERCIAL RISK Corporate Risk Management/ERM EMERGING TRENDS FEATURED P&C Recent Stories Specialty Lines WRIN.tv Newswire “Lone Wolf Terror” and the rapid evolution/frequency of liability exposures. Saad Mered, Group Chief Claims Officer at Zurich, lays out key concerns of risk managers today including the emergence of liability internationally, the frequency of claims, and the unexpected impact of “lone wolf terror” attacks. Mr. Mered sees the rapid evolution of liability frameworks in many countries as surprising to risk managers and carriers alike. The trend is emerging even … Read More
Claims Management COMMERCIAL RISK Corporate Risk Management/ERM FEATURED Legislation/Regulation Recent Stories WRIN.tv Newswire Need to Know: “Conduct of Insurance” in each country of multinational coverage program. Petra Riga, Head of Distribution for Zurich in Europe, Middle East and Africa (EMEA), joins WRIN.tv to discuss the issues risk managers face when dealing with multinational regulations and rules and expectations of local regulators around the world. Ms. Riga says risk managers are challenged by increased international regulation. She notes that risk managers of multinational companies must consider insurance … Read More
Claims Management Corporate Risk Management/ERM Data/Tech/Modeling EMERGING TRENDS Recent Stories WRIN.tv Newswire Wearable Technologies impacting risk management, claims management…and premiums. Chad Hollingsworth, President of Triax Technologies, discusses the impact of wearable technologies on businesses and the management of risk and claims. In order to be more attractive to business, wearables must be easy to use, deployable with a long battery life. Triax focuses on wearables as a safety tool for construction companies. He says simply knowing the number of workers … Read More
Auto/Marine/Aviation CONSUMER RISK Data/Tech/Modeling EMERGING TRENDS FEATURED Homeowner/Renter/Auto Recent Stories Working in Risk & Insurance WRIN.tv Newswire Distracted Driving / Higher Repair Costs pushing auto premiums higher – III CEO. “We have disruption all over… (and) the insurance industry deals with it.” That, according to Sean Kevelighan, President and CEO of the Insurance Information Institute (III), who spoke at the recent AAIS Main event in Florida. He notes that the insurance industry is accustomed to dealing with natural and man-made catastrophes, even technology, which a major disruptor right now. Mr. … Read More
Data/Tech/Modeling EMERGING TRENDS FEATURED INDUSTRY NEWS P&C Insurers need to sense, vet, and test new ideas to deal with “disruption.” According to Paul Carroll, CEO and Editor-in-Chief of Insurance Thought Leadership (ITL), this is a “hugely important time in the (insurance) industry.” He describes “five stages of disruption“, which he has seen in other industries for some time. Mr. Carroll says the industry is out of the “denial phase” and now in the “Cambrian stage”, with billions of dollars being … Read More
Data/Tech/Modeling INDUSTRY NEWS WRIN.tv Newswire “Digitization” compelling carriers to rethink investment in Technology – ACORD CEO. In part one of a two-part Tech Trends in Insurance report, WRIN.tv speaks with Bill Pieroni, President & CEO of ACORD, about the disruptive effect data and technology has had on the insurance industry. He notes that more recently, there are a number of issues that are increasing the importance of technology and data usage today. Mr. Pieroni says forces … Read More
INDUSTRY NEWS Legislation/Regulation Markets Reinsurance Markets WRIN.tv Newswire Does Brexit / U.S. election signal unraveling of belief that “international trade is good”? – ABIR CEO. WRIN.tv catches up with Bradley Kading, President and Executive Director of the Association of Bermuda Insurers and Reinsurers (ABIR), to discuss the state of the Bermuda (re)insurance market, international concerns over Brexit and the U.S. presidential election, and opportunities he sees on the horizon. The Bermuda market suffered from soft pricing in 2016, with the ability to earn a profit … Read More
WRIN.tv Newswire New Workers Comp Study Identifies Differentiators of Higher Performing Claims Organizations CHICAGO, Nov. 16, 2016 /PRNewswire/ — For the first time in its four year history, the annual Workers’ Compensation Benchmarking Study identifies which claims best practices are generating better outcomes. Findings from the just published 2016 study reflect results from a nationwide survey of 492 claims leaders who report on methods that drive success in their organizations. To date, nearly … Read More
ILS & Capital Markets Reinsurance Markets REINSURANCE/ILS Property Reinsurers face up to climate change, “leveling” ILS and broker placement platforms. With the property reinsurance market experiencing soft pricing for some time, WRIN.tv spoke with Jim Larkin, Head of Property Underwriting at Munich Re America, about the impact of Hurricane Matthew, and other factors affecting the market. While it is unclear if Hurricane Matthew would have any impact on reinsurance renewals, Mr. Larkin believes the storm was a reminder about the … Read More
FEATURED INDUSTRY NEWS Markets Mutuals have opportunities vs. competitors, despite challenges – NAMIC CEO WRIN.tv spoke with NAMIC President and CEO Chuck Chamness during the Annual Convention of the National Association Mutual Insurance Companies in Vancouver. Mr. Chamness sees the creep of international regulation and technology among the issues facing mutual, and all insurers today. Technologies, he says, can provide ways for Mutuals to stay in touch with the customers…to help policyholders feel part … Read More
Claims Management Data/Tech/Modeling FEATURED INDUSTRY NEWS Recent Stories ACORD Tech Talk: The use of Drones in the Insurance Industry In this edition of ACORD Tech Talk, host Johnell Johnson welcomes Kathleen Swain, Innovation Advisor at USAA to discuss the recent approval by the FAA allowing USAA to use drones and the use of drones by insurance companies. According to Ms. Swain, “USAA started researching the use of drones in 2010 and in 2014, filed for two exemptions from the FAA for … Read More
Claims Management COMMERCIAL RISK FEATURED Legislation/Regulation Workers Comp ACA hits Workers Comp insurers with Medicare reimbursement requirements…and fines for non-compliance The Affordable Care Act (ACA) is transforming the healthcare and health insurance industries. Here Jessica Smythe, a Medicare Secondary Payer Act Compliance Consultant with ISO Claims Partners, discusses how the ACA is also affecting workers compensation. Ms. Smythe says the impact of the ACA on Medicare and Medicaid is far-reaching. A large portion of the ACA was designed to curb … Read More
Agents/Brokers/Consultants FEATURED Recent Stories Working in Risk & Insurance AJ Gallagher CEO sees cyber risk and health insurance legislation as top concerns for companies Arthur J. Gallagher CEO Pat Gallagher spoke with WRIN.tv during the 2015 RIMS Conference in New Orleans. Here, he discusses the top issues facing risk managers today, including cyber risk, healthcare legislation…and more. According to Mr. Gallagher, the most important issue facing risk managers is cyber risk, from “being hacked to just having information escape. “ While there … Read More
Claims Management Data/Tech/Modeling FEATURED INDUSTRY NEWS Recent Stories Effective Risk Management Information Systems (RMIS) help reduce cost of risk Risk Management Information Systems (RIMS) are becoming increasingly important in managing risk exposures and claims. During the 2015 RIMS Conference in New Orleans, WRIN.tv speaks with INFORM Applications President Alan Josefsek, who reviews the benefits of an effective RMIS. Mr. Josefsek points out that RMIS have been around for a long time. It is helping companies reduce losses and improve … Read More
Claims Management COMMERCIAL RISK FEATURED Recent Stories Aging/Retiring workforce a significant challenge to energy companies, especially risk managers Bijan Bijarchi, a VP at York Risk Services, speaks with WRIN.tv during the 2015 IRMI Energy Risk and Insurance Conference about trends in workers compensation. According to Mr. Bijarchi, “the price of oil has a direct impact on claims in the oil and gas industry and we are seeing a marked increase in claims frequency as a result of lower … Read More
Claims Management COMMERCIAL RISK EMERGING TRENDS FEATURED Recent Stories Shale gas production litigation centers on product failures/accidents – not ground water pollution WRIN.tv speaks with Julia Palmer during the 2015 IRMI Energy Risk and Insurance Conference, a partner at the law firm of Gray Reed and McGraw, about claims litigation and emerging legal trends. According to Ms. Palmer, the advent of shale gas production brought with it concern about contamination of ground water. She says those cases are not going to trial, … Read More