In the December edition of Best’s Review, we came across an article titled, “Underwriting AI: Is It Aligned With Insurance Industry’s Best Interests?” It’s fair to say it left us feeling a little queasy, especially this part: The rapid advancement of artificial intelligence is eliciting a wide range of predictions for its impact, from solutions […]
In the first installment in this series, we wrote: We’re not necessarily in a hurry to return to horses and buggies. But we have to admit, those were certainly more simple times with more obvious risks and fewer technologies to master. On the other hand, more of us live better lives than ever before … […]
We heard someone say a long time ago, “You become what you count.” The comment was made in the context of a business discussion. It was offered in response to an inquiry that went something like this: “You’re a very successful, highly profitable company. But I don’t see any of that on your website or […]
No. We’re not talking about the ZZ Top song. We’re talking about the pressure insurers are feeling from a very difficult reinsurance market. According to an article in beinsure.com, “Global Reinsurance Market 2023: Challenging Renewals & Realignment“: Mounting pressures in the reinsurance market … were exacerbated significantly by Hurricane Ian … reinforcing one of the […]
The September edition of Best’s Review ran an article called, “Slow and Steady”, about the resilience of mutual insurance companies. While the article covered life and health companies, too, it had this to say, in part, about property/casualty insurers: In 2022, property/casualty mutuals posted a net loss while stock carriers had a profit … With […]
When we think of pockets, we think of three things: The first is dentition. Perhaps you’ve been to the dentist for an oral exam. And perhaps in the course of the exam, the hygienist has asked another person to come into the room. That other person is carrying a scorecard and a pen. As the […]
An old corporate adage goes like this: “There’s never time to do it right, but there’s always time to do it over.” Needless to say, that applies to systems implementations, among other things. And it’s pretty funny if: You’re laboring in the belly of the beast, and the money isn’t coming out of your pocket. […]
The classic model of technology adopters outlined in Geoffrey A. Moore’s book, Crossing the Chasm, comprises the psychographic categories innovators, early adopters, early majority, late majority, and laggards. Based on an article in the July edition of Best’s Review — “Fires, Hacking Are Just 2 Hazards at Electric Vehicle Charging Stations” — perhaps two other psychographic […]
The March/April edition of Claims Magazine included an article entitled, “The Top 10 Risks for P&C Insurers in 2023“. If our golf game were better, we might think about it more. But it isn’t. So, we don’t. Nevertheless, key risk factor #1 was digital exhaustion. That made us think about why our golf game isn’t […]
If you ever want to see a room full of people go crazy, run in, yell — “ChatGPT!” — and run out. And if you ever want to see a roomful of insurance people go deathly quiet, walk in, sit down, and ask — “ChatGPT?” — as a sincere question, and listen for pins dropping. […]
