Douglas Ver Mulm

The National Alliance for Insurance Education and Research has announced it is partnering with BrokerTech Ventures to develop a foundational, self-taught course, titled 'Introduction to Insurance for Insurtech Professionals.' Dan Keough, Co-CEO of BrokerTech Ventures, commented: "The National Alliance is creating a world class educational curriculum, and BrokerTech Ventures is honoured to play a role in partnering to develop insurtech and innovation content.” Mitch Dunford, CMO at the National Alliance for Insurance Education and Research, stated: “Our new course is meticulously crafted to address these challenges, by providing insurtech professionals with a robust understanding of basic insurance concepts, terminologies, the regulatory landscape, and the impacts of new technologies." #InsurtechInsights #InsuranceNews https://lnkd.in/eXGbm5kS

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Guns N' Roses wrote 'All we need is just a little patience.' That feels like good counsel for #politicians wanting to get involved in the #autoinsurance ratemaking process. With profits strengthening, loss ratios declining, and the driving ecosystem stable we expect a continuation of the nascent trend of filed rate decreases. More at our Quick YouTube. https://bit.ly/4euUDCF. And Use this link to register or learn more about our work. https://bit.ly/3W8ECuK

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Justin Peterson, one of Beazley’s leading Deadly Weapons Protection (DWP) underwriters, talks to Insurtech Insights about the rising demand for cover, and how the insurance industry is helping to reduce the consequences of weapon-related violent crime. ➡ In 2023, there were over 630 mass shootings in the US (up from 247 in 2019), as defined by the Gun Violence Archive, which considers an incident as a mass shooting if four or more people are injured or killed. ➡ Deadly Weapons Protection against lethal weapons encompasses various armaments beyond firearms or blades. It includes any handheld item wielded violently to inflict harm. Thus, it extends beyond shootings and may not even necessarily entail the actual deployment of a weapon. Peterson says: "There’s been a lot of discussion lately about missed warning signs and the need for more proactive measures. Rather than reacting only when a threat is imminent, we need to be proactive in recognising and reporting concerning behaviours. It’s about being more vigilant and taking action before a situation escalates to the point where a gun is in the room." #insurtechinsights #insurancenews #deadlyweapons https://lnkd.in/eWjg_cPf

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🎤 New interview with AM Best TV! CEO Tanner Hackett spoke at InsurTech NY about the current market, the impact of insurtechs on the industry, and how Counterpart is using AI to drive superior claims outcomes. 🔗 Watch the full interview here: https://lnkd.in/gMkJnJ8w A big thanks to Lori Chordas for the conversation! #InsurTechSpring #insurtech #insurance #managementliability #professionalliability #yourcounterpart

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Caught in action at the InsurTech Insights Conference, Chaim Berkovic and Joseph Fisch from Skyscraper Insurance - Dynasty Assurance Capital are blazing trails in the industry! 🌟 From groundbreaking tech to visionary strategies, they're reshaping the insurance landscape and pioneering innovation like never before. 💼💡 Don't miss out on their journey to becoming the foremost leaders in shaping the future of insurance technology! 🚀 #skyscraperinsurance #weshareyourvisionforabettertomorrow #riskmanagement #dynastyassurancecapital #tech #conference #insurtechleaders #innovationininsurance #techtrailblazers

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🌎 INARI.IO interview at Insurtech Insights USA!🌎 ⚡“I think we’ve gone through that hype-cycle, we’re at the end now where we are starting to see a lot of productivity, and a lot of Insurtechs that have proven themselves and are really providing value to the industry. I think it’s a really exciting time”⚡   Frank P., CEO of INARI.IO recently spoke with AM Best TV at Insurtech Insights USA, and stated it was an exciting time for insurtechs, and inari is no exception.   INARI.IO is releasing a new underwriting workbench, which includes technology such as AI, and focusses on productivity, profitability, and providing the user with more insights.   To watch Frank’s full interview, click here: https://lnkd.in/dqGM_NJD   #Insurtech #Innovation #Insurance #insurtechinsight #workbench #underwriting

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Is anyone seeing a trend in the #insurance marketplace right now with large policies? We certainly are and it's a new spin in a softening market that is going to have unintended consequences for insureds, along with brokers and agents. With a greater frequency we receive requests for stand alone coverages for certain perils, often the more difficult ones to cover and if there is an underwriting option it is increasingly expensive and comes with conditions. As the market softens and more aggressive rating and pricing arrives clients who have tolerated increases are experiencing a welcome relief, and brokers are able to give good news and even some options. However, this comes with a compromise- are these clients going to have the same coverage as before or a better rate? From our view this is an either/or choice many are starting to face and the brokers reps are scrambling to find options to provide the coverage the insureds expect. The issue is part of the greater evolution within the insurance marketplace where data has allowed insurance companies to specifically rate risks better and price the best ones well. Now the next phase is pricing the risk well but taking on only the most profitable coverages within a policy and excluding others. One could suggest it's a form of coercive pricing. "You can offer your client this price on these coverages but we are now excluding these perils and you can find them separately with other markets and carriers". Oh how the industry has moved from it's core concept 'the premiums of the many pay for the losses of the few'. Yes, the term 'losses of the few' is outdated but the principle remains if the industry only wants to insure the best most profitable perils and not the others- where are insureds supposed to go to get the coverage against the perils they face? Few if any companies want to only insure the more costly and likely perils. For brokers receiving these quotes, you might have to stand up and say 'no' and sooner than you think. The problems that are happening now will only get greater as selling the sweet perfume of reduced premium at the expense of requested and desired coverage is a time bomb waiting to go off. For the associations representing industry, such as Insurance Brokers Association of Canada, Insurance Brokers Association of Ontario, Insurance Brokers Association of Manitoba (IBAM), Insurance Brokers Association of Alberta Insurance Brokers​ Association of Saskatchewan and all the others (so many to list) this is a chance to have meaningful dialogue with your companies to head off a problem. Perhaps Insurance Bureau of Canada could address this trend as it's many of your members who are putting brokers and their clients in difficult and potentially costly situations. What is the answer? Stand up for your client and explain to them, the company offer the great rate has some fine print and say 'no'.

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🏢 Empowered Margins, Inc. specializes in underwriting and actuarial software within the insurance industry, addressing overlooked areas in data tech. 💡 The company started in healthcare benefits but has expanded into property and casualty insurance, focusing on sophisticated data management. 📊 Their product, UW Data Hub, allows for apples-to-apples benefit package comparisons, improving decision-making for employers and brokers. ⚙️ Implementation of their solutions centralizes quoting processes, significantly reducing turnaround time from weeks to under 60 seconds. 🚀 Empowered Margins offers improved accuracy in risk assessment and quicker processing times, leading to better informed decisions for both insurers and clients. 👥 Clients appreciate Empowered Margins for their competent tech team that delivers projects on time and under budget while meeting complex requirements. 🔍 Better data access and cross-referencing ability create opportunities for accurate risk assessment and fairness in insurance pricing. 🚦 There’s a push for differentiating insurance costs based on individual health behaviors, suggesting premiums should reflect lifestyle choices. 🚭 Individuals should have the freedom to decide whether to smoke, but society should not bear the costs of those choices. ❌ Smoking bans in public places arose due to the negative externalities of secondhand smoke affecting non-smokers. 🧠 Brain development impacts decision-making, with evidence suggesting that maturity occurs around ages 25 for women and 30 for men. 💼 Empowered Margins aids associations and nonprofits by providing essential data management solutions to enhance their operational efficiency.

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Take a moment and check out Eric Waldinger’s latest interview with Roy Pyke from Insurtech Insights New York, where they dive into what makes Snapsheet unique and how we’re revolutionizing claims management with cutting-edge technology and innovative solutions! A big thank you to Rory Pyke for this engaging discussion and for highlighting the strengths and vision of Snapsheet. Curious how Snapsheet can help your claims organization? Learn more by watching the full interview below and reach out to us with your questions! #ClaimsManagement #InsurTech

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FRIDAY RECAP Released this week on The Insurer TV... 📰 NEWS IN FOCUS James Thaler’s interview with Shawn Ram was released in two parts, with the two going into detail on why the insurtech feels no pressure to maintain its lofty valuation and believes it was warranted, how general IPO market conditions will influence the timing on when Coalition, Inc. might list and potential reinsurance opportunities to deploy Coalition’s model. George’s piece with Emerald Bay Risk Solutions’s Dave Ingrey & Miles Allkins was also published, where our reporter and the head of and the business co-founders speak about their $130 million dollar growth plans, what they had learned from their previous endeavour Spinnaker and the significance of flexibility of MGA’s in the deteriorating casualty space. And released earlier today was George’s interview with REICHARDT NOCE & YOUNG LLC Michael Young about how US insurers face losing attorney-client privilege over claims advice. Watch this interview and the rest of this week’s content here at theinsurertv.com 🎬 FILMED THIS WEEK NEWS IN FOCUS George Abbott spoke to William Pitt about the growth of the MGA space in the US and their growth drivers in other parts of the world and also spoke to MS Amlin’s Chief Underwriting Officer, Martin Burke in an interview focussed on the firm’s great 2023 results, underwriting priorities and his leadership plans for 2024. Sophie Roberts spoke to Nigel Weyman and William Smith about the aviation insurance space, with a particular focus on covering both general and war elements including current trends and market dynamics in both of those areas, and the factors and indeed events that are driving these. The Insurer’s Carlos Pallordet interviewed Markus Gesmann to discuss the key takeaways and trends worth highlighting from the recent report published by ICMR in collaboration with the LMA, the Lloyds 2024 Insights report. CLOSE QUARTER Also filmed this week was an in person interview with Markel International’s Executive Underwriting Officer for Global Property, Guenter Kryszon, CPCU at their headquarters in Virginia where he and The Insurer's Michael Loney discuss the current state of the market. This interview + more to come very shortly… #theinsurertv #theinsurer #fridayrecap #casualtymarket #lloydsmarket #IPO #MGAs

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There could be more opportunities for insurtechs to be acquired by larger insurance groups due to an increased interest in technology, according to Justin Clarke, chief underwriting officer at ManyPets, speaking at the Earnix Excelerate conference. Technology editor Clare Ruel reports. https://lnkd.in/epnXtsX5 #Insurtechs #Funding #Insurancenews #Mergersandacquistions #Insuranceindustry

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New work alert! Earlier this month Crux launched their new specialty MGA, combining underwriting and technology to create a stellar user experience. Not content with the status quo, Crux envisions a future where trust and credibility define its underwriting philosophy, and technology revolutionizes the user experience of all stakeholders in the insurance value chain. This innovative approach is what sets Crux apart. This duality of old and new, underwriting and technology, was a central tenet to our response and their brand. The duality of old and new is a common theme in insurance technology. Our latest case study delves into how we successfully balanced trust and technology, showcasing the industry’s adaptability and resilience. https://lnkd.in/dEe-ju5m #b2b #brand #insurance #insurtech #mga

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Alex Schmelkin, Founder and CEO and Jane Tran, Co-founder and COO of Sixfolddiscuss the innovation in underwriting and AI during an interview at Insurtech Insights USA 2024. Speaking about the company's recent investment success, Tran said: "Salesforce was specifically quite strategic for us because we're an underwriting brand. We don't want to own the glass. So the ecosystem - the integration, partnerships etc, are all really important for the success of Sixfold." #insurtechinsights #insurance #sixfold #underwriting

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Check out this awesome article by Laura Drabik that how Codafication and fellow Insurtech Vanguards are tackling 10 of the biggest trends facing P&C Insurers. "...tools for managing specific elements of an insurer’s extended ecosystem of suppliers, agents, and other partners can also drive significant cost savings while giving them the ability to scale up operations and deliver superior customer experiences. Cases in point include Codafication, which offers an end-to-end, cloud-based project management platform that gives insurers’ teams everything they need to triage and manage subcontractors and direct repair networks in processing property and contents claims." #insurtech #guidewire #claimsmanagement

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Trying to understand how tech is transforming insurance while navigating its challenges? The answer might be in David Schapiro's latest article on Alchemy Crew's website. He is diving into the intersection of insurance and technology. Key Takeaways: 🛳️ Explore: Advanced technologies offer opportunities and challenges in the evolving insurance industry. 🛳️ Execute: There’s significant potential for technology to improve risk management and profitability. 🛳️ Evolve: Cultural differences between tech and insurance sectors impact the pace and nature of innovation. Read the full article on our website and join the journey of innovation and change. 🔻 https://lnkd.in/exSaXuz7 Remember: An average insurer adapts. A great insurer transforms. Planck #Insurance #Technology #Innovation #GenAI

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