2020 insurance outlook

whitePaper | July 3, 2022

The D&O insurance market over the past decade experienced rate reductions, broadening coverage and increasing claims frequency and severity. This meant that losses outpaced premiums and the industry needed to respond. The magnitude and speed of the response that followed surprised many market participants. Significant capacity shortage led to sharp price increases and in many cases to reduced limits purchased by companies. The outlook for the D&O market remains challenging as the risk environment is more uncertain than ever.

whitePaper | December 21, 2021

It would be imprudent, however, to suggest that change isn’t coming. If nothing else, the pandemic has brought about a whole new set of unexpected financial challenges – which means consumers are looking for more choice than ever before. This pandemic has also demonstrated the overarching value proposition of insurance. In turn, this means we’re seeing savvy agents broaden their targets, so they’re not only focused on the more affluent middle classes but instead finding creative and impactful ways to reach those largely underserved segments.

whitePaper | October 20, 2022

Data and analytics have captivated business in recent years: tech startups, retail chains, big banks, movie studios and mom-and-pop shops are all digging into their numbers to power their companies. For insurers, this discovery is nothing new. Data has always been the core of their work. It’s the bedrock of actuarial tables and risk pools, of underwriting and reinsurance. Data-driven insights have powered the industry for centuries, since the days of Lloyd’s Coffee House and mutual benefit societies

whitePaper | December 2, 2019

Professional liability insurance can be an awkward topic for brokers, as it sometimes entails reminding accomplished professionals that they need protection from their mistakes. However, law firms understand the value of specialized expertise – especially when it comes to the coverage afforded by their own Lawyers Professional Liability Insurance.

whitePaper | November 30, 2022

In June 2022, nearly two dozen people were charged with defrauding various life insurance carriers – to the tune of more than $25 million. Those involved conspired to apply for numerous bogus life insurance policies, then collect on them by intentionally deceiving carriers with the assumed identities of deceased individuals.

whitePaper | March 14, 2022

If you want to see the influence that insurtechs are having on how insurance will be sold in the future, look no further than Lloyd’s of London, which has been about as technologically behind as an institution can be. Brit Ltd. announced in May 2020 that, in collaboration with Google, it has created Ki, a new syndicate that will be part of Lloyd’s, that “will aim to significantly reduce the amount of time and effort taken for [commercial] brokers to place their [excess] capacity, creating greater efficiency, responsiveness, and competitiveness.” The Ki platform, which will launch in 2021, will be cloud-based, able to be accessed by brokers directly, and involve algorithms able to evaluate Lloyd’s policies.