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E.g., 2022-06-27
E.g., 2022-06-27
May 12, 2022
Specialty insurers have traditionally made less use of automation than insurers in other sectors. They are now differentiating themselves in a competitive marketplace through investments in distribution (especially new business submission), product development, underwriting, and claims. Specialty lines renewal rates are mixed. Renewal rates are either flat or a mix of increases and...
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April 15, 2022
Individual life insurance carriers’ ability to roll out new products, pricing, and product changes rapidly in response to market conditions and regulatory changes is vital to grow revenue. Carriers are waking up to the importance of customer experience from the perspective of both the policyholder and the producer, with continuing straight-through processing efforts and growing acceptance of...
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March 24, 2022
The voluntary benefits market has become more attractive as responsibility has shifted from employer to employee for many non-medical, health-related insurance products. As plan sponsors want to drive out costs, insurance carriers must execute the basics—benefit and policy administration, enrollment, case installation, marketing, and product design—while driving greater efficiency. Scale...
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February 23, 2022
The reinsurance business faces multiple challenges. Years of soft market conditions followed by sudden, sharp hardening periods; tremendous losses from man-made and natural catastrophes; and open-ended liabilities (e.g., asbestos, terrorism) are putting intense pressure on reinsurers. These difficult conditions challenge reinsurers to adapt and come up with creative solutions. Reinsurers...
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September 28, 2021
Property/casualty insurers work with regulatory reporting service providers to ensure data is in the proper format for regulators, advisory organizations, and statistical agents. Regulators use this data to assess insurer rates and rating plans and understand emerging issues. Insurers benefit from better predictions of loss costs and loss experience in addition to the benefits of outsourcing the...
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