State farm last year quietly opened a storefront in Chicagos trendy Lincoln Park. Theres nothing about the location to suggest insurance; a peek inside reveals a coffee bar, comfy furniture and young java drinkers working on their laptopsjust like any Starbucks.
Whether it's your grandfather's hardware store or a storied personal lines insurance company, a venerable name doesn't mean much without some modern marketing ideas--as long as they're not too modern.
Reinsurers say companies worldwide have suffered intensifying weather-related losses in the past three years, but less than a third of them are actively responding to the riskincreasing the likelihood those companies will be unprepared to deal with the economic impact of more frequent and severe weather events.
Reinsurers say companies have suffered intensifying weather-related impacts in the past three years, but fewer than a third of those companies are actively responding to the risk, increasing the likelihood that companies will be unprepared to deal with unimaginable environmental coverage and loss costs.