Discovering Commercial Auto Opportunities in the “I Want It Now” Era

Many landlords are forced to bear the solvency risk of their tenants' lease promises to repair damage or to indemnify the landlords for liabilities to third parties arising out of the tenants' operations and activities in the demised premises. These exposures are often much larger than security deposits held. Tenant liability insurance is a program designed for landlords to protect the landlords' own insurance limits, deductibles, and assets in the event of loss or damage to the designed premises or liability for losses suffered by third parties as the result of the tenants' actions.

This webinar will discuss successful Al adoption strategies with minimal business disruption for immediate business lift in just weeks. There will be discussion on this tailored approach and effective management of four core pillars - people, process, technology and data.

Apart from claims already losing insurers’ money, claims fraud is estimated to cost the insurance industry over US$80 billion let alone in the United States. According to a McKinsey report, by 2025, claims are estimated to be automated by 50% using AI and Machine Learning techniques. Additionally, a report from DASH estimates AI can save the industry up to US$40 billion in fraud reduction - annually, to this date.

With hardening markets across many product lines, challenging reinsurance markets, and preparations for a once in a generation regulatory change on pricing, it could be said that the general insurance market is living through a perfect storm. Looking ahead to 2022 and the changes on the horizon, might the tide be about to turn? Or will the grave impacts of climate change, an ongoing pandemic, and the threat of many other headline-making loss events, such as a large-scale cyber-attack, mean that this is a state of play to get used to? This lively panel debate considers the overall state of the general insurance market, what routes there are to a more stable market, whether we should expect this period of instability to continue, and seeks to answer if general insurance is living through a perfect storm or not?