Reid French is the new CEO of insurance technology firm Applied Systems. While a newcomer to insurance, French is not new to technology. In this interview with Insurance Journal’s Andy Simpson, French begins with some of his background and then talks about what lies ahead for Applied Systems users and for agency technology in this [...]
In this episode, Peter and Rick talk with James McQuivey, Ph.D. VP, Principal Analyst at Forrester. James was the featured speaker at the recent ACT (Agents Council for Technology) meeting in Minneapolis. His talk, entitled “Welcome to the Era of Experience: How You’ll Have to Adapt to a Hybrid Digital/Personal Customer Relationship,” truly resonated with [...]
Peter den Dekker’s tenure as president of the Federation of European Risk Management Associations (FERMA) could well be described as a tipping point in bringing risk managers into the main stream of European business, and establishing FERMA’s leading role in discussions with brokers, re/insurers and regulators. In this interview, you’ll see why.
What is an entrepreneur? The exact characteristics that comprise an individual with the ability to bring new ideas to the marketplace and foster their success may be difficult to define.
But it’s not much of a stretch to recognize that Richard Kerr, chairman and CEO of the electronic insurance exchange MarketScout, CEO of Bermuda-based Monster Insurance [...]
After a short sabbatical, Peter and Rick are back with their popular “On Point” podcast series. In this episode, Rick and Peter talk with Paul Banuski, Marketing & Communications Coordinator for Independent Insurance Agents & Brokers of NY. Listen as Paul talks about how IIABNY leveraged the ease and power of social media to [...]
Mitch Dunford talks with PhotoScene.net CEO Robert Arenas about SceneDiagrams.com, a new online tool where the claims adjuster can order professional scene diagrams online.
Lord Peter Levene talked to the IJ on his balcony at the Hotel de Paris. His reign as Lloyd’s Chairman has been pivotal in reestablishing its insurance industry preeminence. He pushed through changes that transformed Lloyd’s: contract certainty, electronic claims processing, establishing a franchise board that assures underwriting discipline, annual accounting and geographical expansion.
The Sept. 11, 2001, terrorist attacks in the United States forever changed how the insurance industry views terrorism risk. For property and casualty insurers and reinsurers the impact from 9/11 was substantial, amounting to insured losses of some $32.5 billion in today’s dollars. As we approach the 10 year anniversary of the 9/11 attacks, Robert [...]
In this edition of Markets in Motion, Karen O’Reilly, innovation officer for Lexington Insurance, discusses how LexArchaeology works, why it is an important coverage for large construction projects that could be disrupted due to coming upon archaeological resources.
In an interview with Claims Journal, George Neale, Liberty Mutual general manager for claims discusses the latest predictive model that can quickly identify and manage slow emerging high cost workers’ compensation claims. Incorporating broader data, psychosocial factors and co-morbid medical conditions, helps the company better predict a workers’ compensation claim’s duration and cost.
Ming Lee, president and CEO of Boston-based catastrophe risk modeling firm AIR Worldwide, says there are basic questions insurance carriers should ask about catastrophe models. Lee also addresses how rating agencies view cat models, including some miss-perceptions in this interview with Insurance Journal’s Andy Simpson.
Catastrophe models are not just for hurricanes. They are also not just for insurance carriers. Ming Lee, president and CEO of catastrophe modeling firm AIR Worldwide, discusses how insurance brokers and governments are increasingly using cat models and how cat models are expanding into other risks and expanding geographically.
A legendary insurance company name is back in the headlines. Unitrin Inc. has taken the Kemper name and effective Aug. 25 Unitrin will officially operate as Kemper Corp. Don Southwell, chairman, president and CEO of Unitrin (which will become Kemper Corp. next week), says the name change fits the company well. Southwell says in this [...]
Boston-based catastrophe risk modeling firm AIR Worldwide has modified its hurricane model but that hasn’t caused the fuss in Florida and elsewhere that RMS did with its dramatic changes. In this interview with Insurance Journal’s Andy Simpson, AIR Worldwide President and CEO Ming Lee explains his firm’s incremental approach and why he thinks users should [...]
IJ’s Mitch Dunford talks with American Collectors Insurance Marketing VP, Laura Bergan, on how they are using video and YouTube to communicate more effectively with their agency base, improve website search engine rankings, and alleviate phone traffic to their call center.
John Norwood, principal of Norwood & Associates, has a career in political work dating back to the early 1980s, and he’s one of the state’s best known lobbyists in the insurance and financial services sectors. Norwood talked about workers’ compensation, and other legislation and regulation matters that the insurance industry will face in 2012, including [...]
John, principal of Norwood & Associates, has been an lobbyist for insurance and financial services sectors across several decades. Norwood offered a focused looking at the all-important workers’ compensation issue, and he gave his thoughts on health insurance exchanges. In fact, Norwood forecast that 2012 will rank as an important one when it comes to [...]
John Norwood is one of California’s best known legislative advocates for the insurance and financial services sectors. Norwood spoke to the Insurance Journal about legislation and regulation, including a proposal by a consumer advocacy group that would establish prior approval for healthcare insurance and would make major changes to auto insurance and homeowners insurance in [...]
This year the Entrepreneurial Insurance Alliance (EIA), sponsored by MarketScout, named Vertafore and Risk Metrics, as winners of it 2011 Entrepreneurial Award in technology. Vertafore’s WorkSmart and Risk Metrics’ Insurance 360 technology products received recognition from the EIA as being some of the industry’s most innovative concepts in technology. Each year, the EIA receives hundreds [...]
Retail and wholesale brokers face the challenge —and opportunity— of redefining their relationships and value proposition in today’s changing insurance distribution world, according to Glenn Hargrove, president, MarketScout Wholesale, Dallas, Tex. In this interview from the recent Western Insurance Agents Association’s Insurance Industry Roundtable in California, Hargrove outlines the value proposition of agents and brokers [...]
The medical liability market continues to perform well even as the nation struggles to implement health care reform. Robert Allen, senior vice presidents at Torus Insurance, says many health care institutions are implementing new strategies to be successful in today’s health care reform world. In this interview with Insurance Journal’s Andrea Ortega-Wells from the annual [...]
Patrick Ryan is an innovator who sees opportunity. And it was opportunity that drove him to launch Ryan Specialty Group in early 2010. Success lies in hiring “good people,” Ryan says. In this interview from the annual National Association of Surplus Lines Offices (NAPSLO) annual convention in San Diego, Ryan says his newest venture gave [...]
While CNA saw an improvement in its investment income for the third quarter, as did other insurers, economists suggest that overall, the PC industry has to get accustomed to the idea of lower investment income for the foreseeable future. We asked Thomas Motamed, CNA Financial’s CEO and chairman, whether he thinks the industry is prepared [...]
Al Diamond is one of the country’s best known and respected agency management consultants. His firm, Agency Consulting Group, Inc., is based in Cherry Hill, New Jersey. He deals with agencies across the country on issues ranging from operations to mergers to sales and compensation. He is also a Best Practices instructor for the Independent [...]
Ron Smith, owner of the independent agency Smith Sawyer Smith Inc., in Rochester, Ind.
Renewal of the federal flood insurance program may be the most pressing federal insurance legislative initiative this year as the current program is set to expire at the end of September. But Charles Symington of the Independent Insurance Agents & Brokers of America says progress has been made and agents are optimistic Congress will act [...]