Today ReSource Pro Insights, our research practice, announces a big milestone: the release of our 300th published research report, “Embedded Insurance: Disruptor or Distraction?”
From warranties to travel insurance, embedded insurance has been around for decades, but its potential impact is now being widely recognized.
The artificial intelligence (AI) landscape has changed significantly over the past year, presenting both fresh opportunities and new challenges to the property & casualty insurance industry. As AI continues to evolve, especially through advancements like GenAI, insurance companies must create strong governance frameworks to keep AI use transparent and ethical.
As insurers and state regulators tally losses from Hurricane Ian, climate experts advise bracing for more intense storms as “traditional” weather patterns shift. To handle claims arising from such CAT events, some states contract with independent adjuster firms to supplement their own rosters. Many still rely on licensing emergency adjusters to meet consumers’ needs after disasters.
Checking policies for accuracy and completeness is commonly perceived as an administrative task, with many agencies using policy checking as a training ground for junior and early-career associates. Unfortunately, this scenario is an errors and omissions (E&O) liability claim waiting to happen.
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2022 is presenting new challenges that are forcing insurers to shift their channel focus—while initiatives remain aggressive, insurers are scaling back and being more cautious as major transformation continues within insurance distribution.
Certificates of insurance are more complex than they appear. Agencies may not realize just how much time, effort, and risk responding to those requests and issuing certificates can entail, making it crucial for agencies to manage the risks and opportunities in the certificate process.
In order to place a risk with a surplus lines carrier, the retail/producing agent involved must complete a diligent effort search. There are a few exceptions to this requirement. The most common “bypass” for the diligent search requirement is the use of a state’s export list.
When businesses think of automation, many envision straight-through processes that occur quickly and without any human intervention, or as a solution that is easy to implement and simple to maintain. Unfortunately, the reality is a bit more complicated.
Insurers have reexamined their strategies amid new demands as underwriting departments experience waves of changes. Now, new research shows the results of insurers’ efforts in transforming their underwriting businesses, and the small commercial segment is entering a new phase of automation.
Businesses registering with the Secretary of State’s Office or seeking to add a “DBA” name to their insurance license and/or Certificate of Authority often express surprise when we mention newspaper publication requirements; to notify the public that an entity will transact business or use a fictitious/trade name in a particular jurisdiction.
Find out how our Insurance Experience Center helped one insurance broker overcome the challenges of servicing small commercial accounts while maintaining operating margins.