Insure Think

The MGA market in the P&C insurance industry is experiencing significant changes, driven by trends such as growth in the excess and surplus space, prioritizing speed to response over speed to market, and the emergence of parametric insurance.

Hi Marley reveals commonly asked questions after analyzing a sample of auto and property claims from its database.

The technologies safeguard insurers' ability to understand historical data and remotely apply those insights to risk modeling and underwriting.

New technologies have the capability to provide an analysis of potential exposures.

There are other less obvious ways underwriters can use the technology, but one area is field underwriting.

Growth alone is not enough to sustain a business in the long term.

And how to insure these assets.

3 viable options for under-65 clients trying to bridge the gap between quitting work and Medicare.

When embedded insurance is done right, it should educate and empower customers.

It's no surprise that neither traditional nor digital insurers want to miss out on the opportunity ESG provides.

Consider developing a concierge FNOL team to handle increased demand.

Simon-Kucher expects customer churn and switching behaviors in auto-insurance to increase sharply in 2023.

LLMs have certain obvious drawbacks and difficulties but there is room for the technology to be used in the insurance sector.

The right insurtech partner can fuel an insurer's strategies, tactics, products, services, and results

By moving beyond legacy territorial ratings, every property can be rated fairly according to its actual exposure to loss.

Personalization isn't so much a trend as an expectation.

Generative AI could further enhance automation of previously manual or even legacy technology processes.

Learning from a group of experienced benefit advisers and agency owners took my business to an entirely new level.

Accenture sees the metaverse as a continuum of converging technologies, such as AI, AR/VR, blockchain, digital twins, IoT, cloud, digital currencies, NFTs, social platforms, e-commerce and digital marketplaces.

A new research report from SMA examines core systems deals completed in 2022 from 18 of the top solution providers in the market today.

For example, ethics training can help organizations define unfair bias in the context of AI models.

As a result of the banking collapse, we can see more clearly the vulnerable areas where tech companies could sharpen risk management.

For example, a smart contract-enabled parametric insurance product could be designed to automatically pay out to farmers in the event of a drought.

Cameras and theft alarm systems are often the more attractive option for homeowners but they're neglecting some of the most common and costly risks.

App-free video software can help carriers boost customer satisfaction.

Personal insurance shouldn't be a mystery.

Targeting distribution, claims, sustainability and talent provides a way forward.

Agents should stay informed of how the latest emerging trends such as technology usage and persistent inflation are impacting their client.

The business model, the tech it sits on, and the sector's purpose must evolve.

The NAIC is drafting a model bulletin on artificial intelligence use and Colorado continues to move forward with its rulemaking under the Colorado Privacy Act.

Current LLMs offer two main categories of value in the field.

By analyzing data in smaller chunks, ideally at its source, the data can be effectively surveyed.

Non-traditional approaches to insurance that SMEs should consider to protect their businesses from new and evolving risks.

Key market drivers that are set to shape the industry and practical tips for managing the change.

Future success for insurers largely lies in data and analytics strategy. 

SMA recently surveyed agency executives in commercial lines to understand satisfaction with insurers' digital sales and servicing offerings.

We expect the absolute growth of this market to be a key factor encouraging more investor participation.

Selecting the right SaaS partner for your company can take time.

Companies with websites are working through privacy requirements and to be web compliant.

To avoid pitfalls, the insurance industry must evaluate how to best embrace digital transformation.

The GPT-4 upgrade is currently available to ChatGPT Plus subscribers only.

Lessons for any insurance finance function looking to modernize.

Operations EVP shares success factors from her work with INROADS at the life insurer.

The technology can mitigate project risk at job sites.

With the right tech, agents can deliver more value more quickly.

An inside look at current climate change disclosures and responding to SEC staff comments.

The trends revolve around speedier personalization, smarter automation and more efficient distribution.

Each Masterclass is designed to build a base of knowledge that supports and inspires insurance digital transformation.

Being immersed in the startup ecosystem can be the answer to staying ahead of the innovation curve.

Innovation requires investments of both time and capital.

The free market must encourage higher cost providers to lower their prices, or those with poorer outcomes to improve by adopting best practices.

Massive amounts of visual information can be leveraged to lower risk and workers' comp costs, as well as build a culture of caring.