One of the Top 25 property and casualty insurance agencies in the U.S. was selling level-funded health insurance plans to its business customers. These plans are often marketed as lower-risk alternatives to self-funded plans—yet they have certain risks that employers need to be aware of.
With economic challenges ahead and competition for talent high, companies must focus on not just hiring new employees but retaining their most experienced and productive ones. Here are five tips to consider when it comes to your enhancing your talent retention strategy.
A specialty carrier was seeking to implement a new administrative system with a facilitated training curriculum for end users. As the carrier was focused on the technology build, testing, and launch of the new system, they realized they needed a partner who could support the training curriculum build and deployment.
The excess and surplus lines insurance market has long been a source of solutions for companies with emerging and difficult-to-place risks. The steady growth in E&S premium volume over the past two decades have made non-admitted business attractive for agencies and brokerage firms.
Organizations that lack an efficient approach to prioritizing submissions can find their underwriters wasting time and effort focused on those that are unqualified and likely to be declined. This is especially challenging when an organization is dealing with high volumes.
Macroeconomic conditions are challenging for insurance companies in general, but they offer some opportunities for surplus lines companies. With inflation at a 40-year high, insurance rates are likely to remain high, driving more risks to the surplus lines market.
Mergers and acquisitions have reached record heights for brokers in recent years. At the same time, rate increases and tightening in the admitted insurance market are causing more business to flow into excess and surplus (E&S) lines.
To achieve long-term growth, a carrier sought to expand into new lines of business and diversify geographically with new products & channels. Throughout this journey, the client needed to maintain a strong balance sheet while delivering a superior customer experience.
A client planning an ambitious launch in the United States was not as familiar with the market and had limited staff to meet its short-term growth goals. The client needed an experienced partner that could scale quickly and support its rapidly evolving technology platform.