Meet the Guest Editor
This edition marks Dave Bradford's third stint serving as guest editor for Carrier Management. Last year, he also served as guest editor for a section of CM's May/June magazine edition focused on the ...
Midyear Update 2021: What’s Next?
As insurance and reinsurance leaders take a deep breath and prepare for a mask-free future, they probably do so with a combination of excitement and trepidation.
Challenges ahead are interlaced with opportunities to grow and to innovate, as items like hybrid work arrangements and digital transformation projects rise high on their agendas. At the same time, they’re keeping watch on trends like social inflation, economic inflation, InsurTech competitors and systemic risks beyond pandemics, like those posed by cyber threats.
We look at all of these topics in this digital edition of our magazine, which also features a special focus on a growing category that some believe is the future of insurance—embedded Insurance—through a series of interviews conducted by Guest Editor David Bradford.
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In This Issue
Focus On: Embedded Insurance
Swiss Insurer Baloise Moves Forward With Insurance Innovations
Swiss insurer Baloise may be nearly 160 years old, but it is a company with its eye on the future of insurance, including embedded insurance. Sibylle Fischer, Director of Strategic Venturing and ...
Getting to Know Baloise Group
Located in the heart of Europe, with its head office in Basel, the Baloise Group is a provider of prevention, pension, assistance and insurance solutions. Its core markets are Switzerland, Germany, ...
Trade-Credit-as-a-Service: How Hokodo Is Fixing Small Biz Financing Pain Points
Most often, the concept of embedding insurance refers to a means of distribution—offering more or less traditional insurance coverages for products or services at the point of sale. For Hokodo, ...
Behind the Firewall: Underwriting Cyber Risk for Google Cloud Users
The best cyber underwriting information often is the least accessible. A thorough assessment of information security practices requires data from inside an organization's firewall, which is both ...
Traveling the Far Reaches of the World of Embedded Insurance
From Salt Lake City, Utah to Basel, Switzerland to Paris, France—and into the Google Cloud. When Carrier Management reached out to industry veteran David Bradford to find out what traditional ...
The Story of Salty: From Oxford U. to 'Embedded Insurance'
Salty owns embedded insurance—literally. "EMBEDDED INSURANCE" is a trademark of Salty Dot Inc. Salty's SaaS platform enables carriers and their distribution partners to offer policies to insure ...
Claims/Legal
'Katy, Bar the Door': More Risks Loom for Insurers Post-COVID
The soaring price of lumber was one of the hottest topics on the lips of industry executives speaking at midyear conferences, becoming a focus of discussion almost as often as cyber risks and social ...
Leadership and Management
CEO Views: Successes and Failures in Dealing With Pandemic Challenges
As insurance professionals prepare for mask-free life and opportunities to exchange ideas in person, industry leaders took the virtual stage again at a midyear conference, recounting industry lessons ...
Is Hybrid Working the Real Challenge for the Insurance Industry This Year?
Major players in the insurance industry are developing their plans for a "smart working revolution." Companies have learned from their responses to the COVID-19 pandemic and how they adjusted to ...
How to Fix Your Remote Onboarding Process
For many organizations, it's been a year of operating remotely. As employees and managers have worked to overcome the challenges that come with remote work, some are now facing a challenge they ...
Risks and Non-Risks
Pandemic Risk: Finding the Opportunity in Liability
Liability insurers frequently use exclusions to help address emerging risks that are viewed as unpredictable, intractable and potentially very large. It comes as no surprise, then, that the emergence ...
Risk Alerts
The Ransomware Epidemic by the Numbers
During a session of the Casualty Actuarial Society Seminar on Reinsurance in June, Alexander Podmore, AVP and cyber underwriter for Swiss Re, defined a growing problem for cyber ...
Cyber Underwriting Changes: Is It Too Little, Too Late?
With primary rate changes approaching 50 percent and underwriting questions about network controls becoming more and more detailed, cyber insurers and reinsurers are reacting to an onslaught of ...
Systemic Risk Analysis: Are Cyber Insurers Whistling Past the Graveyard?
While ransomware was the hot topic at 2021 midyear insurance industry conferences, discussions of the broader topic of systemic risk—spurred on by recent hacks of SolarWinds and Microsoft ...
Time For Insurers to Reassess 'Grim' Cyber Insurance Market: AM Best
With the cyber risk hazard environment—ransomware, business interruption and aggregation—worsening significantly, "prospects for the U.S. cyber insurance market are grim," according to a report ...
Strategy and Innovation
Small Insurance M&A Deals Create More Value: McKinsey
McKinsey analysts believe insurers focused on large one-off deals undertaken to scale their companies and those who stick to organic growth are both headed down unfruitful paths if outsized ...
Carriers Struggle to Transform Innovation Efforts Into Results: AM Best
Although COVID-19 forced many insurers to seek out innovative solutions, most companies still have room for improvement, according to rating agency AM Best. In a recent analysis of innovation ...
One Year In: How Insurers Are Doing on AM Best Innovation Assessments
In early March 2020, AM Best released Scoring and Assessing Innovation, our formalized criteria for measuring a company's innovativeness. Within weeks of its official launch, this methodology was put ...
InsurTech Trends
IoT Players 'Greasing the Skids' to Boost Growth of Sensor Tech
Sensor technology is no longer an emerging technology in commercial property/casualty insurance. It has emerged—and is rapidly growing, according to executives who bring the Internet of Things ...
How to Value an InsurTech
Next year, Chubb (tracing its roots back to the birth of the Insurance Company of North America) will turn 230 years old, an extraordinary feat of longevity that partly explains why it's the world's ...
Technology and Analytics
How to Achieve True Digital Transformation in Insurance
Over the last several years, businesses across all industries have been busy implementing digital strategies and fundamentally changing how they operate and deliver value to customers. Yet, digital ...
Intelligent Automation in Loss Reserving: Why Actuaries Need Help From Robot Analysts
Among the many things that have changed how the actuarial field functions is an underlying movement to automate. By integrating cognitive computing capabilities into their actuarial processes, ...
From the Editor
Systemic Risk: What It Feels Like
Tuesday, May 11 started out as an ordinary day for me. Early in the day, I was following the latest news about the lingering effects of a ransomware attack on the Colonial Energy pipeline, which had ...