The planned revisions of a catastrophe model could cause interesting changes to the way the industry prices its property insurance, according to executives at the Property and Casualty Insurance Joint Industry Forum in New York City.
Technology is changing the relationship between the client, producer, and the insurance carrier. While some view that as a detriment to producers, others see room for adaptation and growth that will ultimately benefit consumers, independent agents, and carriers.
Policy administration system implementations consistently make the ‘A List’ of important projects for insurers every year. There always are a large number of policy administration projects under consideration in the insurance industry—some to handle new lines of business, some to manage processing for new companies—but the vast majority are undertaken...
Agencies have had to prioritize operations this year, implementing new measures to ensure that technology and recruitment needs are met while driving toward long-term growth.
Wholesalers agree that focusing on customer service, finances and innovative programs and products are important factors to maintain stability during economic downturns.