Insurance talent recruiters facing whole new world

insurancebusinessmag | June 07, 2019

Insurance talent recruiters facing whole new world
Insurance firms face a whole new world in terms of recruitment and thinking about talent today. As the industry transforms to meet the growing demands of the digital era, incumbent insurers are facing an ultimatum: innovate or fall behind.

Spotlight

Liberty Mutual Insurance is the third largest property and casualty insurer in the United States. They were looking to redefine how their customers experience insurance, so they started with how their employees were spending their time looking things up and navigating internal platforms to complete simple day-to-day tasks.

Spotlight

Liberty Mutual Insurance is the third largest property and casualty insurer in the United States. They were looking to redefine how their customers experience insurance, so they started with how their employees were spending their time looking things up and navigating internal platforms to complete simple day-to-day tasks.

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RISK MANAGEMENT

KBRA Assigns Insurance Financial Strength Rating to Tower Hill Insurance Exchange

Kroll Bond Rating Agency, LLC (KBRA) | December 29, 2021

Kroll Bond Rating Agency (KBRA) assigns an Insurance Financial Strength Rating of BBB+ with a Stable Outlook to Tower Hill Insurance Exchange (THIE). THIE was formed as a Florida reciprocal exchange and will begin writing residential property insurance in Florida within its first year of operation and continue to expand in the Florida market over the subsequent two years. The rating reflects its sound initial capitalization, conservative investment portfolio, and reasonable business plan. THIE will benefit from the established market presence, distribution, and risk management of the Tower Hill Insurance Group (Tower Hill) - a privately owned organization comprised of three Florida-domiciled direct writers, an affiliate offshore reinsurer, a managing general agency (MGA), and two claims services companies. Tower Hill is one of Florida’s largest residential property insurers with approximately 6% market share. Balancing these strengths are THIE’s exposure to natural catastrophes, and a lack of geographic and product diversification. THIE’s revenues and earnings are expected to be concentrated in Florida, a state exposed to both natural catastrophes and significant legal challenges for residential property insurance writers. In addition, initial capital is solely funded through surplus notes with annual interest expenses of approximately $16 million. This is somewhat offset by THIE’s low start-up costs versus more typical start-ups. About KBRA Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority pursuant to the Temporary Registration Regime. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

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WORKERS COMPENSATION

Split Limit Studios Joins Guidewire PartnerConnect Solution

Split Limit Studios, Guidewire Software | March 22, 2021

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ClarionDoor announced Partnerhip with Vertafore to Modernize MGA Distribution

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