Rank #1: A.M. Best Is Anticipating These P/C Technology Advances in 2020
As the P/C insurance industry heads into 2020, A.M. Best is anticipating a number of P/C insurance industry technology advances. A.M. Best Chief Rating Officer Stefan Holzberger outlined some details during an interview with Carrier Management at the APCIA Annual Meeting on Sept. 21, 2019.
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Oct 31 2019
Rank #2: Agent Champion Relies on Research
You’ll enjoy the energy in this podcast delivered by Jeff Smith, CEO of Ohio Insurance Agents. Jeff’s 1,300 members likely are indicative of the rest of the country, with independent agents controlling 85% of commercial lines, and growing that share, but dropping a bit in personal lines share. The association is helping principals transition ownership internally or externally, Jeff says. That is key, given that $2.7 billion of the $15 billion written by the Ohio IA channel is owned or controlled by principals with an average age of 62. The association has created a research and development organization (intellagents.io) to collect key performance metrics and address key issues. Jeff also discusses three insurtechs he likes for independent agents.
Sep 16 2019
Rank #3: User Experience Simplified
Just as highway traffic will slow down when the road signs are complicated, consumers navigating apps and websites often will give up when they’re presented with too many instructions and words. Less can be more, according to Allstate’s user experience content lead, Clifton Simmons, who led a spirited conversation at the 2019 Insurance Marketing Communications Association (IMCA) Conference. On this podcast Clif reprises some key points from that talk, including an overview of how his team dramatically increased usage of the Allstate claims app. Claims reported via the app went from 3,400 to 70,000 per month when Allstate added live chat and removed “the sea of words we were throwing at them.” Claimants trying to deal with fixing their cars “need baby steps,” Clif says. “If you give them too much at once, it becomes noise. It leads to confusion.”
Oct 14 2019
Rank #4: Carrier Management Weekly Top Picks: September 17, 2019
Sep 17 2019
Rank #5: Burns & Wilcox’s Whitton Talks Changes in Commercial Property
Insurance Journal’s Andrea Wells spoke with Barry Whitton, broker and managing director at Burns & Wilcox, at the 2019 WSIA Annual Marketplace in San Diego in September about changes that he is seeing so far for the commercial property market. As online shopping has gained popularity, he pointed to strip malls and shopping centers being repurposed as one example of the changing environment.
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Oct 15 2019
Rank #6: Who Wants Agency Debt? You Might!
Borrowing can be a good business decision for agencies looking to expand. But which are the best bets? You may want to hire new producers, invest in technology, or buy a book of business or agency. These choices help ensure agency debt is productive and doesn’t leave you over leveraged. On this installment, InsurBanc CEO David Tralka talks about some basic dos and don’ts when it comes to borrowing. “Every agency should put itself into a position to borrow cash,” says Dave. “Even if it doesn’t need it, the process is important. If you can tell a good story to a bank, that’s valuable. Using credit and debt can be a powerful driver of growth.” Dave also sees more owners selling off pieces – rather than the entire agency – to recapitalize the firm and watch the value grow.
Oct 28 2019
Rank #7: Insurance Is Not Partisan
Congress continues to be mired in partisan politics, but Nat Wienecke insists that insurance issues still cut through the noise. But with the 2020 election looming, Wienecke, senior vice president of Government Relations at the American Property and Casualty Insurance Association, is pushing for action on a number of issues before then. Wienecke explains, during a Carrier Management interview at the APCIA Annual Meeting on Oct. 21 in Boston.
Nov 06 2019
Rank #8: Reinsurance Market Should Remain Stable: Munich Re’s Levy
Higher rates are hitting the reinsurance market but the situation should remain stable, according to Steven Levy president and CEO, Reinsurance for Munich Re America. He explained the market dynamic in detail during a Carrier Management interview on Oct. 21 at the APCIA Annual Meeting in Boston.
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Nov 06 2019
Rank #9: IIHS Crash Test Dummies Are Not So Dumb
The Insurance Institute for Highway Safety (IIHS) is an independent, nonprofit scientific and educational organization dedicated to reducing the losses caused by deaths, injuries and property damage from motor vehicle crashes. We recently spoke with Raul Arbelaez, vice president of IIHS’s Vehicle Research Center where he shared the not so dumb qualities of their crash test dummies.
Sep 16 2019
Rank #10: Claims Journal Weekly Top Picks: September 24, 2019
Sep 24 2019
Rank #11: An Update on Plans for A.M. Best’s New Innovation Ratings Criteria
Earlier this year, A.M. Best disclosed plans to start incorporating innovation evaluations into its rating process. Stefan Holzberger, A.M. Best’s chief rating officer, gave Carrier Management an update on those efforts during the 2019 APCIA Annual Meeting on Sept. 21, 2019.
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Oct 31 2019
Rank #12: Insurance Journal Weekly Top Picks: September 17, 2019
Sep 17 2019
Rank #13: Wholesale Specialists Get More “Defined” as Market Hardens
Joel Cavaness, president of Risk Placement Services (RPS) and president of the Wholesale Specialty Insurance Association (WSIA), sits down with Insurance Journal to talk about today’s growing E&S market, tightening market conditions and why the E&S market will continue to become more defined as risks become more complicated.
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Oct 07 2019
Rank #14: Insurance Journal Weekly Top Picks: September 24, 2019
Sep 24 2019
Rank #15: Carrier Management Weekly Top Picks: September 24, 2019
Sep 24 2019
Rank #16: Westfield Seeks to Elevate Message
Listen to this high-energy podcast as Westfield’s distribution leader Chris Cline walks us through the rationale behind the company’s recent rebrand. The word “insurance” was dropped from the name, as Westfield “thought about the customer and risk differently,” expanding from the concept of basic insurance policies. Chris provides observations on the pros and cons of the M&A frenzy. He sees an urgent need for agency principals to intentionally address a succession plan. These issues are not just top-of-mind for Chris; he wants to talk them out as the enthusiastic host of his own podcast, called “Closing the Gap,” covering issues and opportunities in the independent agency channel.
Sep 30 2019
Rank #17: Going Public: BRP CEO Baldwin Talks Company’s IPO, What’s Next
Florida-based broker Baldwin Risk Partners (BRP) has come a long way since it was formed less than 10 years ago in Tampa, Fla., and that was more clear than ever on Oct. 24 when its leadership team rang the Nasdaq opening bell with more than 100 members of the company in attendance at the New York Stock Exchange for BRP’s Initial Public Offering (IPO). In this interview with BRP’s President and CEO Trevor Baldwin, he discusses what the IPO means for the company and its future now that it is a public company.
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Nov 06 2019
Rank #18: Munich Re America’s Levy Outlines Reinsurer’s InsurTech Priorities
Where are you focusing your InsurTech investment priorities on these days? Carrier Management Editor Mark Hollmer asked that question to Steven Levy, president and CEO, Reinsurance for Munich Re America, at the APCIA Annual Meeting on Oct. 21 in Boston. Here, he outlines those priorities.
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Oct 23 2019
Rank #19: Burns & Wilcox’s Whitton on Commercial Property Market Capacity
Insurance Journal’s Andrea Wells recently spoke with Barry Whitton, broker and managing director at Burns & Wilcox, about what he’s seeing in terms of more stringent requirements on capacity in the commercial property market. The conversation took place at the 2019 WSIA Annual Marketplace in San Diego this September.
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Oct 15 2019
Rank #20: 2018 Top 10 U.S. Cities for Motorcycle Theft
Sep 09 2019