Month: June 2024

Investing in Resilience Provides Significant Economic Benefits: Allstate/U.S. Chamber

Investing in Resilience Provides Significant Economic Benefits: Allstate/U.S. ChamberEvery $1 invested in disaster resilience and preparedness saves $13 in economic impact, property damage and cleanup costs, emphasizing the value of proactive measures in mitigating the financial toll of natural disasters on U.S. communities and businesses, according to a new report from Allstate, the U.S. Chamber […]

Insurance Underwritingand Economic Analysis: “Art and Science”

Insurance Underwritingand Economic Analysis: “Art and Science” By Lewis Nibbelin, Guest Blogger for Triple-I Home and auto insurance premium rates have been a topic of considerable public discussion as rising replacement costs and other factors – from climate-related losses to fraud and legal system abuse – have driven rates up and, in some states, crimped […]

Florida Homeowners Premium Growth Slowsas Reforms Take Hold, Inflation Cools

Florida Homeowners Premium Growth Slowsas Reforms Take Hold, Inflation CoolsHomeowners insurance premium growth in Florida has slowed since the state implemented legal system abuse reforms in 2022, according to a Triple-I analysis. As shown in the chart below, average annual premiums climbed sharply after 2020. This was due in part to inflation spurred by the […]

Global Insurers Embracing AI for Claims Resolution, Customer Service

Global Insurers Embracing AI for Claims Resolution, Customer ServiceThe global insurance industry is grappling with significant challenges in claims resolution, as supply chain disruptions, rising inflation, and geopolitical tensions hinder the ability to process claims efficiently, according to a recent survey by Gallagher Bassett. To navigate these obstacles, insurers are increasingly embracing digital solutions such […]

Liability Loss Trends Outpace Insurance Limits, Chubb Benchmarking Survey Finds

Liability Loss Trends Outpace Insurance Limits, Chubb Benchmarking Survey FindsThe gap between liability loss trends and median liability insurance limits is growing, continuing the trend of the last 10 years, according to research from Chubb. The “16th annual Liability Limit Benchmark & Large Loss Profile” report from Chubb provides data to help businesses determine appropriate […]

Maximizing ROI: The Benefits of AMS-CRM Integration

Maximizing ROI: The Benefits of AMS-CRM Integration /*! elementor – v3.17.0 – 18-10-2023 */ .elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block} Successful sales go beyond just closing a single deal. It involves building strong, long-lasting relationships with clients that provide mutual benefits over time. Technological solutions like AMSs and CRM software can be valuable tools […]

New Triple-I Podcast Focuses on Intersection of Economics & Insurance

New Triple-I Podcast Focuses on Intersection of Economics & Insurance By Marina Madsen, Research Analyst, Triple-I Triple- I is pleased to present “All Eyes on Economics”, its new podcast series. Hosted by Triple-I Chief Economist and Data Scientist Dr. Michel Léonard, PhD, CBE, the series equips listeners with insights to manage economic uncertainty at the […]

Risk Management Guide for Home Inspectors

Risk Management Guide for Home InspectorsRisk management is synonymous with home inspectors. After all, they help manage risk for prospective homebuyers.  But what about managing the risks that home inspectors themselves face? Or, is anyone thinking about home inspector risk management more broadly? Risk management is crucial for a successful home inspection business. In fact, […]

Auto Insurers’ Performance Improves, But Don’t Expect Rates to Flatten Soon

Auto Insurers’ Performance Improves, But Don’t Expect Rates to Flatten Soon Several metrics that influence auto insurance premium rates are starting to improve, but it will take time for these improvements to be reflected in flattening rates, according to a recent Triple-I Issues Brief. Direct premiums written and underwriting profitability improved dramatically in 2023.  Additionally, […]

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