Is Loop the Future of Automobile Insurance?
The annual ATECH Conference in Aruba is promoted as, "Where Tech, Innovation, and Creativity Meet to Become the Future." At the 2015 conference, two young tech entrepreneurs, Carey Anne Nadeau and ...
Fairness in Insurance
The second-quarter edition of Carrier Management shines a light on InsurTechs that have the concept of fairness in insurance underwriting and pricing at the heart of their business models. Fairness in hiring is the subject of two articles aimed at company leaders and managers.
In addition, features on financial trends and operations include insights on carrier loss reserve adequacy, the prospect of inflation in 2021, the emergence of embedded insurance, as well as advice for InsurTechs and specialty firms about choosing an operational structure (MGA or carrier) and knowing when to take a growth pause.
In This Issue
Cover Story
Creating the USAA for the Gig Economy: Buckle CEO
"Legitimizing the Shared Economy." The phrase, with a trademark symbol at the end of it, is the first thing visitors see on the "About Us" page of InsurTech Buckle's website. On another website page, ...
What Buckle Offers Now
Buckle currently works with nine reinsurers across four programs. In February 2020, Buckle began offering its hybrid personal and commercial auto insurance product to Lyft drivers in Georgia, ...
Lemonade CEO: Why Regulators Need to Engineer Equity in Insurance Prices
It takes a one-two punch to make insurance fair. I've previously argued that AI can vanquish bias in insurance, and so it can. But while machine learning can help ensure equality, it cannot ensure ...
Feds Could Step in to Fix Racial Bias in Insurance Pricing
If the National Association of Insurance Commissioners doesn't act this year to correct systemic racial bias in insurance ratemaking and other processes, Congress may pass anti-discrimination laws ...
An Alternative View: Crediting Credit Scores
While InsurTechs like Loop and Buckle are trying to reshape the future of insurance without using credit scores to underwrite or price policies, the rest of the industry has yet to embrace the ...
Executive Viewpoint
An Embedded Insurance Future
Insurance can be a tough sell. It's convoluted, related to a future risk that's hard to imagine, expensive and seemingly needless. And on top of that, general public sentiment tells us consumers are ...
Leading Tech Brands That Embed Insurance Propositions for Customers
• In consumer retail, Amazon is a prime example—pardon the pun—of a global e-commerce leader that has been distributing warranties in the U.S. and Europe for 15 years. Lately, the behemoth has ...
CEO Reflections: Business Lessons From COVID-19, One Year Later
If COVID-19 has taught us any important business-related lesson in 2020, it is the importance of being agile. More than a mere business practice, this agile philosophy of quickly adapting to ...
Leadership and Management
Business Leadership as Usual, or More Authentically?
Can you believe it? We're into year two of the most surreal, pandemonius experience of our lives. At least now there's anticipation that we are almost out of the woods—and understanding that ...
A Customer-Centric Culture Starts With One Essential Principle
When business leaders try to build a customer-centric culture, they often overlook a key issue that can doom the whole effort: Many employees don't think they have a customer. Sure, the customer is ...
How Carriers Can Fix Their Hiring Processes
Are you struggling to find and retain top performers? Are your employee engagement and productivity rates not as high as you'd like? Are you concerned that you're not attracting enough diversity ...
10 Phrases Confident Leaders Use
Communication is a key leadership skill. To lead others effectively, excellent communication is paramount. It not only delivers tasks but provides the motivation and confidence that teams and ...
Managing Your Team: 5 Tips to Help Employees Flourish
Managing too much can make your team feel untrusted, hinder their growth and cause them to disengage. Managing too little can leave them floundering, unsure of what's expected of them, and could make ...
Prioritizing Potential to Build Future-Focused Teams
In the rapidly evolving business climate, diverse teams with a variety of skills and perspectives are crucial for success. As insurers focus on enhancing their diversity, equity and inclusion ...
Risk Alerts
Opioids Are the Next Tobacco. Are Antibiotics the Next Opioids?
The fact pattern is familiar. Drug companies market a legal and regulated drug, resulting in significant overprescription of that drug. Over time, a public health crisis emerges and annual deaths ...
7 Emerging Risks to Watch: Climate Change, Pollutants, Cyber Threats
Even the most vigilant insurers and reinsurers scanning the risk landscape for potential future liability problems are likely to fall into landmines. What insurance risks or the immediate or near ...
Operations and Finance
Digital Maturity: The Path to Sustainable Value Creation
In the wake of current events, industries and economies worldwide are scrutinized daily. How have they weathered the pandemic? Who is best positioned in the aftermath? What lessons have been learned ...
The Inflation Specter Looms for Property/Casualty Insurers
Inflation, defined as the rate at which prices for goods and services are increasing, tends to occur when prices rise due to increases in production costs or when the demand for a product exceeds its ...
Taking a Growth Pause: Preparing for Long-Term Success
When you are in the early stages of starting your company, your one focus is to get things rolling. To do that, you prioritize: raising capital, getting your Certificate of Authority, obtaining ...
Loss Reserve 'Conservatism' Will Shape the Pricing Cycle
According to our analysis of loss reserves published in mid-March, the year 2020 marked the 15th straight year that the U.S. property/casualty industry's loss reserves developed favorably—by about ...
Assessing Delegated Underwriting Authorities, MGAs: AM Best Explains
Over the last decade, as insurers and reinsurers have sought profitable opportunities for growth, they increasingly have handed the underwriting pen to managing general agents, managing general ...
Technology and Analytics
Betting On Founders: How VCs Spot InsurTech Unicorns of 2025
Carrier vs. MGA. U.S. vs EU. Specialty niche vs. traditional insurance lines. There are many things that distinguish one InsurTech from the next, including financial metrics like internal rates of ...
VC Viewpoint: The Insurance Carrier Is Back in Fashion
As money began to flow into InsurTechs back in 2014 and 2015, these companies essentially fell into two categories: You were either a provider of technology to insurance companies or a distributor of ...
From the Editor
Do Reinsurers Rule the Industry?
"If you're an insurer today, and you're really good at underwriting, you should evolve into being a reinsurer and jettison out other assets." The words of advice from InsurTech Co-Founder Marty Young ...