Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2015, approximately $585 billion DPW was reported, a record-high. For 2015, total DPW for all P/C insurers aggregately increased 2.5 percent over 2014, an increase …
Cyber Disaster Management “You need to think of [cybersecurity] like disaster management – similar to your plan for an event like Hurricane Katrina – where everybody is on the same page.” — Cari Toneck, chief compliance and risk officer at …
There was a great turnout for the future of the insurance industry early this month in Las Vegas. The occasion was the first InsureTech Connect Conference, which brought together an estimated 1,500 tech entrepreneurs, investors and insurance executives from around …
While states have made progress in reducing teen driver-involved traffic crashes and deaths over the past decade, teen drivers are still 1.6 times more likely to be involved in a fatal crash than their adult counterparts, and teen-involved crash deaths …
Analytics and big data are here to stay. Already creating monumental shifts in the business world, today’s analytical advancements are leading an evolution on how people think about information, track data, shop for goods and even play sports. Within the …
Workers’ compensation benefits as a share of payroll have reached historically low levels, according to a new study. Despite growth in employment during the economic recovery – and the corresponding uptick in employees covered by workers’ compensation – benefits per …
How to Help Insureds Manage Customer Privacy Risk Insurance carriers and agents have come to learn that increased data can lead to greater risk for insureds, and they are increasingly advising businesses to disclose data collection practices while seeking to …
An agency owner in Alabama wrote me, “How come my producers don’t invest their own money to improve themselves?” He went on to say, “he was self-motivated” and was confused why his producers were not. As we got deeper into …
The process of selling a business involves an amalgamation of financial, personal and external factors. Sellers should work with their advisors to create a wish list of what they want. It is equally important to create a list of what …
Be Transparent “The advice for companies is that yes, you’re going to collect data, but you need to be transparent with the consumer, whether you’re doing it in person or digitally. You need to be transparent in privacy notices and …
