Falling premiums and more generous policy terms are benefiting buyers, but experts warn that today’s competitive market could create challenges when claims arise and conditions tighten
This quarter’s instalment of the Insurance Times Commercial Premium Index – released in partnership with Open GI – takes a deep dive into packages and specialist lines to see where GWP growth is being achieved in contrast to market conditions
Jim Summers, chief executive of global specialties, and John Fletcher, chief executive at Willis Re Bermuda, lay the groundwork for this next generation reinsurance broker
’If not, we will just stand and watch this evolved skills agenda take shape, we will still be talking about a skills shortage [and that the industry] can’t attract people,’ says chief executive
As the insurance industry moves away from dedicated diversity and inclusion initiatives towards broader conversations about culture, talent and skills, the question is whether this marks genuine progress – or simply makes an old problem less visible
’This year’s pivot, from January onwards, has been to figure out how we maximise the benefit and the assets that we’ve got, as well as how we recognise claims itself as a strategic asset in the whole of the insurance cycle,’ says chief claims officer
’It’s a significant part of the market so we’re not completely ignoring it – we just want to do it in a way that it’s still aligned with our overall customer philosophy,’ says chief executive
The 28-year-old managing director bringing ‘a little bit of Essex in every boardroom’ as she homes in on international opportunities, new scheme potential and a talent first mindset for her incoming era of leadership
‘These swaggering insurtechs claimed that they were going to change the world, but they weren’t selling any insurance – there wasn’t a scalable, solid concept there,’ says executive director
Drought is becoming a more visible feature of the UK’s risk landscape, driving rising subsidence losses, raising wildfire concerns and putting growing pressure on businesses and infrastructure. But while insurers are adapting their view of risk, evidence suggests awareness may be moving faster than action when it comes to buying ...
‘When you’re in those really difficult times, the actual underwriting expertise, the risk management expertise, the discipline and getting the contract wording right is absolutely essential,’ says chief executive
After spending two years building AI-powered insurance software firm Parasol Platforms, the founder concluded the best way to demonstrate his vision for true transformation was to launch his own MGA and prove the model works