The Friday Five: Week of June 17, 2019

by Jen Smoldt on June 21, 2019

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If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

Quote of the Week:

“We don’t see that treading water is a strategy for growing and gaining an innovation advantage. Yet too many companies are being tutored on their innovation education by advisory firms that seem to support just checking the boxes for a passing grade” -Wayne Allen, CEO of Insurance Thought Leadership

  1. Are you an A+ student, or just getting by?...Here’s why insurers need to do more to innovate than just check the boxes: “Just like a student who wants to learn, companies must be willing to ask non-obvious questions and do more than simply follow the herd.”
  2. Holy hurricane loss creep...147,325 Hurricane Michael claims have been filed and 23,194 claims (15.7%) remain open as losses creep to $6.6 billion.  
  3. Calling the Sherlock Holmes of hail...Since 2008, hail losses have been a growing mystery with annual hail losses sitting near $19 billion (or higher) - and no one is sure why. Here’s what you need to know about hail risk mitigation...
  4. I can’t get no customer satisfaction...Customers and stakeholders expect to know more about an event and sooner. Here’s how to know if your event response operations are keeping pace...
  5. I’d like a second opinion please...Gen Re explains why it’s so important for P&C insurers to use multiple Cat models in their underwriting analysis. Read why multiple models are important for your event response efforts too...
Missed last week’s Friday Five? Check it out here.  

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Topics: insurtech, Underwriting Strategy, catastrophe risk management, hurricane risk

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