Viewpoints
International Capital Standards: A Risk Management Mirage
The financial crisis spurred a wave of new regulatory proposals at the state, federal and international levels. Many of the new ideas in insurance supervision offer extremely promising ways to foster ...
Building Advanced Analytical Capabilities to Deliver Business Value
In the words of XL Catlin CEO Mike McGavick, we face "the imperative for robust use of advanced data and analytics." It's an imperative that XL Catlin has taken very seriously, for several reasons. ...
Closing the Gap: How Small and Midsized Insurers Can Leverage the Power of Big Data
The "big data" buzz that dominates so much of the P/C insurance conversation these days may not be as uniformly useful as everyone thinks. In the majority of cases, the usefulness of big data hinges ...
Innovation Lessons From the Flock
There's fowl knocking at my kitchen door; an impatient staccato, it pauses, expectant like a breath held, then resumes. They know I am in here. I know what they want. The tapping pecks away at my ...
Full Power of Data-Driven Analytics Still Largely Untapped by Insurers
The depth and breadth of predictive modeling applications are growing as insurance companies become more comfortable with this core function in modern property/casualty business. However, few ...
P/C Industry Risks Underestimating Walmart, Google, Other Market Upstarts
Those with long careers in the insurance industry have seen newer entrants founder on the shoals of our business. Many well-intentioned outsiders don't understand the innate complexities of the ...
Can Karen Clark Move Forward the Cat Modeling Industry She Helped Create?
Karen Clark scored a bonafide first when she launched catastrophe modeling company Applied Insurance Research (AIR) in 1987. With a focus on computer simulations, it was the only operation of its ...
Open Platform vs. Open Source
Karen Clark noted that her company's RiskInsight "open platform" currently is the only one in the industry already used by insurers and reinsurers. But what about the Oasis framework, launched by 21 ...