Insurers that focused on modernizing technology and improving their data, analytics and artificial intelligence (AI) capabilities are now able to incorporate generative AI (gen AI) as a natural next step on their reinvention journey. Gen AI is changing everything. It is being used throughout the value chain to improve customer…
NORTHBROOK, Ill., November 21, 2024 – The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of October of $286 million or $226 million, after-tax, including $102 million, pre-tax, from Hurricane Milton and unfavorable reserve reestimates of $144 million, pre-tax, related to Hurricane Helene, primarily in Georgia,…
Cyber is an expanding net-new growth area with opportunity to deliver a compelling insurance offering especially in the mid-market. Yet, the path to becoming a market-leading and profitable cyber insurer is fraught with challenges. In this article, we outline the essential strategies to develop a top-tier cyber offering, culminating in…
The brokerage market has enjoyed a period of sustained revenue growth, profitability, and shareholder value, driven by favorable macroeconomic conditions. M&A activity has flourished due to easy access to inexpensive capital on a robust cash flow business, while organic growth has been fueled by a hardening rate environment and inflation-driven…
Recently, many leading insurers have applied transformative solutions to enhance their cyber products. With the cyber insurance market projected to double to $29B by 2027, we explore what constitutes market-leading cyber claims management. In this blog we’ll delve into the complexities of responding to cyber claims, the essential skills required…
Personal lines insurance is very price-sensitive. As discussed previously, maintaining a 20+% expense ratio is not feasible for insurers. Beyond pricing, what truly fosters customer loyalty, and how can insurers compete to increase their market share? In this blog, I explore strategies for enhancing customer loyalty and retention, provide forecasts…
Personal lines insurance is very price-sensitive. As discussed previously, maintaining a 20+% expense ratio is not feasible for insurers. Beyond pricing, what truly fosters customer loyalty, and how can insurers compete to increase their market share? In this blog, I explore strategies for enhancing customer loyalty and retention, provide forecasts…
Personal lines insurance is very price-sensitive. As discussed previously, maintaining a 20+% expense ratio is not feasible for insurers. Beyond pricing, what truly fosters customer loyalty, and how can insurers compete to increase their market share? In this blog, I explore strategies for enhancing customer loyalty and retention, provide forecasts…
Personal lines insurance is very price-sensitive. As discussed previously, maintaining a 20+% expense ratio is not feasible for insurers. Beyond pricing, what truly fosters customer loyalty, and how can insurers compete to increase their market share? In this blog, I explore strategies for enhancing customer loyalty and retention, provide forecasts…
Personal lines insurance is very price-sensitive. As discussed previously, maintaining a 20+% expense ratio is not feasible for insurers. Beyond pricing, what truly fosters customer loyalty, and how can insurers compete to increase their market share? In this blog, I explore strategies for enhancing customer loyalty and retention, provide forecasts…
