Claims Management Data/Tech/Modeling EMERGING TRENDS FEATURED Homeowner/Renter/Auto INDUSTRY NEWS P&C Recent Stories Reinsurance Markets Travel WRIN.tv Newswire Innovation is Happening in Insurance, but Not Disruption – Not Yet! – Aisus CEO Mica Cooper, CEO & President of Aisus/InsureCrypt opens up about so-called ‘disruption’ in the insurance industry. According to Mr. Cooper, we’re not seeing it… Mr. Cooper notes how much people are talking about innovation, disruption, evolution and revolution in the insurance industry. He sees innovation artificial intelligence (AI) and machine learning. He points out that some innovation is “not legal”, … Read More
Data/Tech/Modeling FEATURED Recent Stories REINSURANCE/ILS WRIN.tv Newswire Customer Experience…a Modern Differentiator for Insurers – BMS Re CEO Companies are challenged to find opportunities for growth in a competitive landscape. According to BMS Re U.S. CEO Steve Korducki, the differentiator lies in technology and customer service. Mr. Korducki sees growth for insurers in cyber coverage and insurtech, particularly when organizations utilize tech-focused risk mitigation technology. Changing consumer demographics and market shifts, combined with technology advancements, mean a change … Read More
Claims Management CONSUMER RISK Data/Tech/Modeling Recent Stories WRIN.tv Newswire Insurers need “sense of urgency” to improve claims and risk assessment process According to Andrew Peet, Head of Operations at 360Globalnet, claims management and the insurance industry as a whole need to move with a “sense of urgency” to cut costs from the claims process while increasing satisfaction among policyholder and claimants. The use of technology to create efficiency in the end-to-end claims process depends on the user’s ability to “think strategically” … Read More
Education/Certification EMERGING TRENDS FEATURED Homeowner/Renter/Auto INDUSTRY NEWS P&C Recent Stories Workers Comp WRIN.tv Newswire GDP, Cyber, Flood, Technology, Talent and more on III radar heading to 2019 The uptick in GDP has had a positive impact on the insurance industry, according to Laura Favinger, Chief Administrative Officer for the Insurance Information Institute (III). In the first half of 2018, insurance carriers nearly doubled their net income over the same period in 2017. The III sees exposures broadening a bit due to business development, consumer consumption and construction, … Read More
Data/Tech/Modeling EMERGING TRENDS Homeowner/Renter/Auto INDUSTRY NEWS Recent Stories WRIN.tv Newswire Insurers sitting on “Gold Mine” of data…and don’t know it. BriteCore CEO and Founder Phil Reynolds provides insights into the risks, challenges and opportunities affecting the changing insurance market due in large part to data. He says many insurers simply so not understand what their data means. The data collected on policies, claims, losses and consumer behaviors is a gold mine, and most don’t even know it. He notes that … Read More
CAREERS/PROFESSIONAL DEVELOPMENT Data/Tech/Modeling EMERGING TRENDS FEATURED INDUSTRY NEWS Recent Stories Uncategorized Working in Risk & Insurance Looking ahead…Automation, Robotics and AI could help fill “Talent Gap” Autonomous vehicles will have a huge impact on the personal insurance industry. Automation, robotics and the potential for on-shoring of manufacturing could have a major impact in the commercial insurance space. That, according to Kevin Surace, renowned American technology innovator, speaker, creator of a AI Based Software QA platform, and Inc. Magazine’s 2009 entrepreneur of the Year. He adds that … Read More
CAREERS/PROFESSIONAL DEVELOPMENT Companies Data/Tech/Modeling EMERGING TRENDS FEATURED INDUSTRY NEWS Recent Stories WRIN.tv Newswire Grow by Solving Society’s Problems…A.M. Best exec. Attracting talent remains biggest challenge for insurers. According to Matt Masher, EVP and COO at A.M. Best, the need for talent is greatest in the information technology (IT) area. The industry has done a lot to attract underwriting and claims professionals. But attracting the industry struggles in attracting IT talent needed to deal with insurtech issues, efficiencies in distribution and … Read More
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