Category: Trends

September 22, 2023

California insurance commissioner Ricardo Lara has unveiled a package of reforms that aims to alleviate the state’s troubled insurance market, including changes to the FAIR Plan and a deal with insurers that allows more people to transition back to the […]

September 7, 2023

Growing fears about the state of the world are pushing more people to take out insurance even as prices rise, Lloyd’s of London Chief Executive Officer John Neal said. Rising inflation, recession worries, climate threats and geopolitical tensions are making […]

September 7, 2023

Now that virtual and photo-estimating have become commonplace in insurance claims processes, collision repairers likely are aware of the challenges it can potentially cause — undervalued vehicles, undervalued damage, extended length of keys to keys, et cetera. But have you […]

September 5, 2023

According to Moody’s most recent Reinsurance Buyer Survey, an increasing number of insurers expect to purchase less coverage for 2024 due to higher costs, which will in turn force them to retain even more risk, making their results more volatile. […]

August 23, 2023

Small businesses across the U.S. are increasingly satisfied with the products and services they receive from their commercial insurance providers. According to the 11th annual JD Power 2023 U.S. Small Commercial Insurance Study, overall customer satisfaction has reached an all-time […]

August 21, 2023

In a recent assessment of the global reinsurance industry, AM Best analysts have indicated that despite favourable market conditions, a new class of global reinsurers is unlikely to emerge in 2023. The analysis points to several factors that contribute to […]

August 16, 2023

Auto insurance shopping increased 12% during Q2 compared to the same period last year, according to a new TransUnion report. TransUnion’s quarterly Insurance Personal Lines Trends and Perspectives report, released Tuesday, attributed the rise to vehicle sales and the quest […]

August 11, 2023

Emerging Asia is becoming less shock prone, this along with enhanced economic credibility lowering long-term volatility of growth, inflation and interest rates, is making the region more attractive for insurers and investors alike, according to a recent report by the […]

August 10, 2023

The insurance industry is hyper fixated on an issue that is extremely relevant to the property sector, namely valuation. That is according to Ben Beazley (pictured), executive vice president, national accounts property at Jencap Group. “Valuation is the hottest topic […]

August 8, 2023

Insurance mergers and acquisitions (M&A) have remained resilient amid economic volatility driven by a banking crisis and high interest rates. Faced with uncertainty and other headwinds such as technology disruption, insurance CEOs are betting big. Large-scale, transformational M&A deals are […]

July 17, 2023

Could self-service and digital quoting and binding be gamechangers for independent agents and brokers working in microbusiness lines? Though they’re the smallest of small businesses, microbusinesses account for the largest portion of small businesses in the United States. They dominate […]

July 13, 2023

Across the globe, the insurance industry’s talent crunch continues. However, despite recruitment challenges, in certain lines of business many global insurers are expanding, says Graeme Young (pictured above), ANZ director for Eliot Partnership. “I think the overriding feature is the […]

July 10, 2023

One of the biggest challenges of a career in life insurance is that it entails dealing with a subject that most people don’t want to talk about – their mortality. On the flipside, life insurance professionals are also given the […]

July 5, 2023

The aviation reinsurance market continues to grapple with challenges and uncertainty, according to global reinsurance broker Gallagher Re’s latest report on the aviation insurance market. While there are some signs of improvement in aviation retro capacity levels, the overall landscape […]

June 29, 2023

Florida has a unique property insurance market consisting mostly of small and medium-sized local insurers that rely heavily on reinsurance. These companies serve to fill the gap left by national insurers that have shied away from providing coverage in the […]

June 27, 2023

Direct non-life insurers in advanced markets have experienced a deceleration in the release of prior-year loss reserves, prompting concerns about adequacy due to recent shocks, leading to an uptick in the share of incurred-but-not-reported (IBNR) claims, according to a Swiss […]

June 26, 2023

Social media can prove a powerful tool to get your insurance business’s message across, but with the positives come some pitfalls. Insurance Business connected with three expert insurance marketers from the Insurance Marketing & Communications Association (IMCA) to find out […]

June 22, 2023

Swiss Re Institute has released its fifth resilience sigma report titled Restoring Resilience: The Need to Reload Shock-Absorbing Capacity. The report highlights the escalating global protection gaps in natural catastrophes, crop, mortality, and health insurance, which now demand a staggering […]

May 26, 2023

Swiss Re is forecasting long-term mortality improvement trends for insurance. The company’s latest report, “The Future of life expectancy” shows that although, gains in human longevity have tapered off over the last decade, the next wave of improvements is on […]

May 22, 2023

In April 2023, Goldman Sachs Asset Management (GSAM) published its 12th annual insurance survey, which not surprisingly includes findings that the industry continues to be focused on the potential impact of climate change. GSAM collected responses from 343 Chief Investment […]