The past several years have seen increasingly severe flooding and wildfires in the US – and it’s forced the industry to rethink their approach to managing these disasters.

From Super Storm Sandy, to Hurricane Harvey, to the recent California Wildfire seasons, it’s no surprise that the industry is still recovering from decades of losses to capital reserves. The solution has become clear. Today’s (re)insurance carriers and regulators need to actively manage this risk.

In this webinar, Michael Young, Vice President – Model Development at RMS will explore how new data and advanced risk analytics can help you to understand how to actively manage your exposure to this new (ab)normal. Whether you’re looking for profitable (re)insurance opportunities or you’re interested in understanding just how interconnected these risks are to the rest of your portfolio, join this webinar to understand how you can actively prepare for the seasons ahead.

Michael Young is an expert in modeling catastrophic climate perils for the insurance and re-insurance industry. During his 15 years with RMS, he has led teams that developed hurricane, convective storm, and flood models. Currently product manager of the RMS N. America Wildfire models suite, Michael has also worked as a lead wind vulnerability engineer, a director of claims and exposure development, and as the head of the mitigation practice.

Prior to RMS he worked in commercial wind-tunnel laboratories doing studies on wind loads for a variety of buildings. Michael has led studies of insurance mitigation programs for the state of Florida, as well as the World Bank. Michael holds a BS in Civil Engineering from the University of Alberta and an MS from the Western University in Canada in Wind Engineering.

The post Ready, Set… Activate! Advanced Risk Analytics for Wildfire & Flood in the U.S. appeared first on ¾ÅÉ« Research.

Indiana-based Protective Insurance has nearly 100 years of experience safeguarding fleets of trucks and their drivers. As new datasets such as IoT and traffic data have become more readily available, and advanced technologies like distributed computing become more ubiquitous, the senior leadership team at Protective has conceived a bold vision for the future.

Join in to hear Jeremy Johnson, CEO of Protective, discuss their technology transformation journey and how they plan to use technology and data science to drive profitable growth by making the roads safer.
The panel will discuss:

• The planned transformation journey to implement an integrated underwriting workbench and policy administration system
• How this will drive automation and evidence-based underwriting
• How the resulting data insights will lead to development of new safe driver incentives.

Join in to listen to our panelists discuss their ultimate goal to leverage Two Sigma Insurance Quantified’s cloud-first underwriting workbench and data science capabilities to provide insights to incentivize safer driving behaviors from Protective’s customers.

Meet our speakers

  Jeremy Johnson, CEO, Protective Insurance

Barry Liang, VP Solution Architect, Two Sigma Insurance Quantified (TSIQ)

The post Driving Safety: Undertaking a Technology Transformation to Create Safer Roads appeared first on ¾ÅÉ« Research.

Gain insights into the following industry trends:

• Technology
• Future of work
• Product development
• Merger & acquisition
• Regulations
• Sustainability
• Cyber risk
• Privacy
• Tax Reform

We thank Deloitte Center for Financial Services for sharing this report with our audience.

The post Deloitte 2019 Insurance Outlook Report appeared first on ¾ÅÉ« Research.

-Claims Intelligence Series, AIG

The post M&A Insurance – The New Normal? appeared first on ¾ÅÉ« Research.

The report’s findings highlight the value of the Karen Clark & Co.’s open models and advanced tools that insurers are using to track hurricanes in real time and to leverage their detailed claims data.  This report contains an overview of the following with discussions of each of the above mentioned catastrophic events:

• Meteorological Highlights and Forecasts
• Modeled Loss Estimates
• Meteorological Development
• Real Time Loss Estimation
• Post-Event Damage Survey

Gain these insights provided to you by Karen Clark & Co.

The post 2017 Hurricane Season: Review and Analysis appeared first on ¾ÅÉ« Research.

The 2014 Working Group on California Earthquake Probabilities calculated that there is a 33-percent likelihood of a large (magnitude 6.7 or greater) earthquake occurring on the Hayward Fault within three decades. A large Hayward Fault earthquake will produce strong ground shaking, permanent displacement of the Earth’s surface, landslides, liquefaction (soils becoming liquid-like during shaking), and subsequent fault slip, known as afterslip, and earthquakes, known as aftershocks.

This report provides both a look back at the destruction of the 1868 Hayward Fault earthquake and predictions for the future in a very interesting read!

The post The HayWired Earthquake Scenario-Earthquake Hazards appeared first on ¾ÅÉ« Research.

What major changes do you see on the horizon for the property/casualty insurance industry in the next 10 years? What will insurance companies, insurance leaders, the industry and its workforce look like in the next decade? What risks will they insure? How will insurance products and services be distributed?

Nine InsurTech leaders, five traditional carrier CEOs, six more P/C carrier executives and another half-dozen experts with ties to the insurance industry (service providers, investors and legal advisers) responded, sharing their visions of what’s on the horizon between 2017 and 2027.

In the attached report, we have published the lightly edited responses from each of the executives of incumbents, InsurTech founders and the remaining respondents.

The post Executives Predict The Future of Insurance appeared first on ¾ÅÉ« Research.

The post CBO Report on National Flood Insurance Program Financial Soundness and Affordability appeared first on ¾ÅÉ« Research.

The goal of MarshBerry’s 2017 Organic Growth Study is to identify organic growth trends, as well as to provide insight into the relationship between talent acquisition and sales performance management and determine any differences between “high growth” and the “average” of all responding agencies.

2017 findings include:

• The West and the Southwest regions experienced the highest economic growth compared with other regions in the U.S. and outperformed the nation as a whole
• With a steady but moderate growth in the market, a number of agencies are pushing towards niche and industry specialization
• Producers under 40 years old generated 32% of new business for the average agency
• When measuring the performance of new producers, average agencies focus more on commission dollars sold but not on the activity that will eventually drive the commission dollars sold
• Over 90% of agencies that have greater than $20 million in revenue assign mentors to new producers

The four core chapters offer a market overview and outlook comparing average and high growth agencies.

Charts in each section provide information on:

• Growth trends
• Organic growth strategies
• Staff & productivity
• Producer development and performance measurement

The post 2017 MarshBerry Organic Growth Trends Report appeared first on ¾ÅÉ« Research.

CBO and JCT estimate that, in 2018, 14 million more people would be uninsured under H.R. 1628 than under current law. The increase in the number of uninsured people relative to the number projected under current law would reach 19 million in 2020 and 23 million in 2026. In 2026, an estimated 51 million people under age 65 would be uninsured, compared with 28 million who would lack insurance that year under current law. Under the legislation, a few million of those people would use tax credits to purchase policies that would not cover major medical risks.

The post CBO Estimate/Analysis Re: American Health Care Act of 2017 appeared first on ¾ÅÉ« Research.

The post Congressional Budget Office Cost Estimate of Republicans’ American Health Care Act appeared first on ¾ÅÉ« Research.

The post Insurance Agency Salary Survey 2017 appeared first on ¾ÅÉ« Research.

The post Adding Inequality to Injury: The Costs of Failing to Protect Workers on the Job appeared first on ¾ÅÉ« Research.

The post Federal Insurance Office Auto Insurance Affordability Study appeared first on ¾ÅÉ« Research.

Report prepared by NICB’s Olivia Ortiz, Strategic Analyst, and Josh Cahill, Strategic Analyst.

The post Car Thefts with Keys Left in Car: National Insurance Crime Bureau Report 2016 appeared first on ¾ÅÉ« Research.