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The growing adoption of data-driven underwriting and predictive analytics has given delegated underwriting authority enterprises (DUAEs) a competitive advantage within the insuranceindustry, with technology serving as a cornerstone for many of these operations. An AM Best survey of its …
property/casualty insuranceindustry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report. “After years of consistent losses, premium growth is helping the overall …
property/casualty insuranceindustry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report. “After years of consistent losses, premium growth is helping the overall …
P/C insuranceindustry overall in 2024, signifying a return to underwriting profitability for the first time since 2021. According to the analysis, private passenger auto insurance … S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S.
A turnaround in the personal lines insurance segment results was a key driver of an overall $3.8 billion profit from underwriting for the U.S. property/casualty insuranceindustry, according to a new report from AM Best. Best’s Special Report, titled, “First …
In the fast-paced insuranceindustry, efficiency and accuracy are paramount. Real-time rating and quoting have emerged as game changers for underwriters, enabling them to provide quick and precise quotes that … This post is part of a series sponsored by Selectsys.
P/C insuranceindustry 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 …
In the fast-paced insuranceindustry, efficiency and accuracy are paramount. Real-time rating and quoting have emerged as game changers for underwriters, enabling them to provide quick and precise quotes that … This post is part of a series sponsored by Selectsys.
With a “silver tsunami” of skilled underwriters eligible to retire in coming years and a shift in employee expectations, recruitment and retention is a critical focus for the insuranceindustry right now, said experts during a November webinar hosted by …
In today’s fast-paced insuranceindustry, precision in underwriting is not just a requirement—it’s a critical factor in maintaining competitiveness and ensuring profitability. As the insurance landscape continues to evolve, traditional … This post is part of a series sponsored by Selectsys.
property/casualty insuranceindustry to post more than $100 billion of net income for 2024and that the biggest underwriting profits contributing to the figure will come from units of Berkshire Hathaway and Progressive. S&P Global Market Intelligence expects the U.S. The …
In the insuranceindustry, 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.
Brooks Insurance hired Tiffani Ann Garabedian as senior vice president of underwriting. Garabedian has nearly 20 years of insuranceindustry experience, most recently serving as a territory manager with Nationwide for the Northeast region. Garabedian is based in Los Angeles.
The “gap is closing” between commercial lines and personal lines underwriting results as the insuranceindustry overall is expected to continue its run of premium growth and improved underwriting results over the next 2 years. According to a report from …
In the ever-evolving insuranceindustry, 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.
The Florida Surplus Lines Association, which notes it provides a safety valve for Florida’s property insuranceindustry, 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 …
Insuranceindustry rating analysts from AM Best warn recent softer pricing for directors and officers coverage could begin to affect insurers’ underwriting results. AM Best noted renewal premium for monoline D&O liability continued to fall during the first three months …
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) …
property/casualty insuranceindustry reported its first full-year underwriting gain in four years, fueling a jump in net income to $170 billion, according to a joint report from Verisk and The American Property Casualty Insurance Association (APCIA). The global …
property/casualty insuranceindustry reported its first full-year underwriting gain in four years, fueling a jump in net income to $170 billion, according to a joint report from Verisk and The American Property Casualty Insurance Association (APCIA). The global …
Benefits of APIs in the InsuranceIndustry APIs offer numerous benefits to the insuranceindustry, enhancing efficiency, customer experience, and data management. These unique tools help meet data security and privacy insurance regulatory requirements. To learn more about Zywave APIs, visit [link].
Southern Specialty Underwriters, with offices in Tampa and in Macon, Georgia, said it has rebranded to Arbour Specialty, an insurance broker in the Southeast. The company also named Rebecca Roberts as its new president. Roberts has 30 years in the …
And I think one of the things that we’ve learned over the last 10 years is that while a VC (Venture Capitalist), as an example, might be interested in growth at any cost, we as an industry might be more interested in things like underwriting results or loss ratios. Contact Majesco today!
In the competitive insuranceindustry, Wholesalers, MGAs, and Brokers are always seeking ways to streamline operations, integrate new technology with legacy systems, and provide faster, more accurate service to their … This post is part of a series sponsored by Selectsys.
property and casualty insuranceindustry 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
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.
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.
The latest Triple-I Issues Brief shows how that fact played out in 2024 and early this year and discusses the importance of granular local data for underwriting and pricing insurance in wildfire-prone areas, as well as for much-needed investment in resilience.
Meister has more than 36 years of experience in the insuranceindustry, 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.
USG Insurance Services, Inc. Francis, based in Alpine, California, entered the insuranceindustry eight years ago. She most recently served as a renewal garage underwriter with Risk Placement … hired Tiffany Francis as an associate producer/broker with their garage division team.
Zywave Chief Technology Officer Doug Marquis Greater transparency increases consumer trust Much has been written about the potential of artificial intelligence to revolutionize the insuranceindustry but little has been mentioned about a vital element of our sector: consumer trust.
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
Attending insurance conferences is a strategic move for any professional in the insuranceindustry, whether you are an established agent or new to the field. Networking Opportunities: Building a strong professional network is crucial in the insuranceindustry.
By William Nibbelin, Senior Research Actuary, Triple-I The workers compensation insuranceindustry experienced its second-best underwriting result in the past 20 years in 2023, with a net combined ratio of 87, according to Triple-Is latest Issues Brief. A combined ratio under 100 indicates a profit.
Recruitment: The Backbone of the InsuranceIndustryInsurance recruiting is more than a necessity—it’s a strategy. Strategic Recruitment Methods for Insurance Agencies Recruiting isn’t just about filling open insurance jobs—it’s about assembling an insurance team that can deliver results.
Were able to offer you more products and services, give you access to industry-leading tools and technology, and provide you with unmatched experience and service. To be specific, were here for you from start to finish from prospecting to quoting, enrolling to underwriting, and servicing to renewing.
As high-severity natural catastrophes wildfires, floods, hurricanes, and others become more frequent and more people move into riskier locales, insurance affordability and availability have become a challenge in many states.
P&C insuranceindustry’s financial outcomes for 2024 revealed a net combined ratio (NCR) of 96.6, point enhancement compared to the prior year and representing the sector’s most favorable underwriting performance since 2013, as detailed in a recent report by Triple-I and Milliman. demonstrating a substantial 5.1-point
For insurers, this means two things: Stricter policy requirements to ensure businesses meet minimum security standards. Insurers are also refining their underwriting processes, using AI-driven analytics to move away from traditional questionnaires and toward real-time risk assessments that adapt to a companys evolving cyber posture.
Filling senior-level roles in the insuranceindustry requires more than just sourcing resumes—it demands precision, industry knowledge, and a focus on long-term success. For example, if the role is in underwriting, highlight the necessary actuarial knowledge and familiarity with reinsurance.
In the rapidly evolving insuranceindustry, APIs are becoming indispensable tools for agencies looking to streamline their workflows, incorporate data, improve efficiency, and deliver superior customer experiences. Learn more about Zywave APIs.
The insuranceindustry is undergoing a digital transformation like never before. Modern insurance customers demand speed, simplicity, and transparencyand insurers must adapt or risk falling behind. Here are seven key customer engagement trends that will shape the insuranceindustry in 2025.
Educational events bring industry expertise from around the globe, facilitate networking Leading insurtech provider Zywave has announced its lineup of acclaimed insuranceindustry thought leadership events for 2025. Registration is now open: [link].
As we wrap up 2021, it seems appropriate to revisit predictions we made for the insuranceindustry this year. I put forward my hypotheses last December in my post, 5 predictions for the insuranceindustry in 2021. Let’s see how those predictions held up. 1.
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