This session will focus on reclaiming dollars after a loss, including subrogation, salvage recovery, and third-party involvement. Attendees will learn how to develop facts that will support a theory of liability resting with another party, pursue subrogation effectively, and obtain funding through salvage disposal processes. This session is part of the foundations series and teaches foundational skills for those new to the industry or a claims role.
Join experts from Ward Group as they explain NAMIC’s newest benchmarking initiative designed to help member companies improve their claims processes and staff productivity. During this webinar, the presenters will explain how NAMIC members can participate in the survey and what data will be covered in the final reports, which will be delivered in January 2020. The Claims Practices & Productivity Survey will examine not only how property/casualty insurance companies are running their claims departments, but also how they plan to adapt to changes sparked by new technology and other disruptors in the insurance marketplace.
The proliferation of technology, the use of social media, and the interconnectivity of technology create new exposures for the average homeowner. What are the potential liabilities and legal risks for homeowners as these technology trends continue to emerge and develop? How will these trends shape customers’ expectations for personal insurance and their insurance relationship? This session will provide insights regarding the important questions surrounding emerging technology trends and personal liability.
As an attendee of this webinar, you will understand the need to conduct board evaluations, discuss the process to evaluate the board and follow through on the results, learn how to determine if your board is ready, and explore the benefits of utilizing outside resources. This webinar qualifies for one FMDC credit in the Management module.
Enterprise risk management is an aspect of daily management life that can be of significant value to all companies; therefore, it is important that company leaders understand it. This session will explore what ERM is and how it came about. It will also provide insight on why ERM sometimes fails, the role of the board, how ERM is governed within an organization, and the view of ERM by A.M. Best. The session will finish with 12 actions boards and management can take to strengthen an ERM program. This webinar qualifies for one FMDC credit in the Operations & Insurance module under the course name Organizational Risk Management.
From farming to aerospace, every business today uses technology integral to business operations. The rapidly emerging proliferation of technology, the use of social media, and the interconnectivity of technology create new exposures for business. What are the potential risks/liabilities as these and other technology trends continue to emerge and evolve? How will these trends shape businesses’ expectations for commercial insurance coverages and their insurance relationships? This session explores emerging technologies and the legal risks and opportunities they present for insurance companies in commercial lines to consider. This session will be available as part of both the Underwriting and Claims Series.
Insurers face an increasingly aggressive market environment, as attorneys and resourcing issues are driving severity within claims departments across all lines of business. To experience optimal performance, aligning performance measures and effectively managing data across service, quality, and process are more important than ever. Aon Inpoint’s claims group will show participants how to successfully leverage data in a balanced scorecard approach to improve adjuster performance by focusing on operational, quality, and customer service key performance indicators. Additionally, the presenters will explore emerging Insurtech and Artificial Intelligence solutions that are addressing gaps in the claims handling process to improve performance.
Internet of Things is quickly becoming an important tool to mitigate the frequency and severity of property/casualty insurance perils, especially those causing extensive damage and business interruption. Sensor technology and smart devices are being leveraged to identify potential threats and risks that can cause business interruption and claims. But how can insurers harness the power of IoT, especially if they are unfamiliar with the technology? This session will show types of IoT hardware, software, and smart devices designed specifically to help mitigate risk. The presenter will also discuss how claims data can be used to identify and pinpoint specific groups within an insured’s book of business that have a higher risk factor. Attendees will learn how different types of IoT programs provide different results, and the factors insureds should consider when choosing a program. This presentation will be available as part of both the Underwriting and Claims series.
The pressures are mounting for Chief Compliance officers of insurance companies from both internal and external sources. Increasing regulatory mandates, perpetual talent squeezes, mounting demand for increased cost reductions, and a growing need for additional capacity for new and emerging risks and regulations are challenging insurance companies. To thrive and take the lead, business leaders need to address issues head-on.
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Be Golden in the Golden State: Complying with the CCPA The California Consumer Privacy Act (CCPA) is the most comprehensive consumer privacy legislation in the United States. Effective January 1, 2020, the CCPA applies to businesses that collect personal information from California consumers and creates significant new consumer privacy rights. If your business collects personal information from Californians, chances are the CCPA applies to you and you’ll therefore need to understand the new law and establish internal procedures for compliance. Watch now to learn more about the details on CCPA including the legislation background, the new individual rights created by the CCPA and what you need to do to comply!
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As an attendee of this webinar, you will understand the changing technology needs and competitive environment for property/casualty insurers, explore the evaluation of technology needs and current capabilities, and identify ways in which the board can evaluate success and provide management with appropriate levels of technology support/guidance. This webinar qualifies for one FMDC credit in the Operations & Insurance module.
You've just settled a market conduct investigation expecting that these issues were behind you, when you were notified of a class action addressing the same alleged violations. Conversely, the class action is over, but your sigh of relief is disrupted when the regulator comes calling asking questions. Unfortunately, market conduct examinations and class action litigation are often managed in isolation, without considering the implications of one versus the other. Regulatory action creates material class action exposure and, conversely, class action exposures creates material regulatory risk. Join this session to hear from experienced insurance class action lawyers and insurance market conduct practitioners on how to protect your company.
This session will examine the pervasiveness of insurance fraud and how the adjuster can assist in combating it. Attendees will learn how to analyze new techniques, the tools available to adjusters, how to recognize fraud indicators, define investigation that may become necessary, develop a process for reducing fraud, and assist in criminal prosecution. This session is part of the foundations series and teaches foundational skills for those new to the industry or a claims role.
This session will focus on three key financial reports: the income statement, the balance sheet, and the cash flow statement. The presentation will dive into the key components of each and discuss the role each plays in understanding a company’s financial results. Along the way, this session will look at some of the major differences between statutory and GAAP (Generally Accepted Accounting Principles) accounting and explain how an individual policy makes or loses money. Finally, the presentation will finish with the 10 things boards should be looking for in their financial statements. This webinar qualifies for one FMDC credit in the Finance & Accounting module under the course name Understanding & Analyzing Financial Statements.
Leveraging analytics in the underwriting process is a necessary tool and is not only table stakes for organizations but can also be a key differentiator. However, leveraging doesn’t always require the best analytical models to be successful; a key success factor requires an ability to execute on the insights from those analytics across various organizational dimensions. This session will discuss the broad nature of being successful in deploying analytics.
As new technologies aimed at increasing efficiencies and functionality within the insurance industry are introduced, many contain sophisticated controls or mechanisms that increase the complexity and vulnerability to equipment breakdown. To best provide a potential or existing insured with the right equipment breakdown and property coverages, insurers must be able to identify potential pitfalls and create solutions to them on the basis of their customers’ level of risk complexity. In this session, attendees will be introduced to three emerging issues relative to underwriting equipment breakdown coverage across a broad cross-section of industries and services. This presentation will be available as part of both the Underwriting and Claims series.
There are years of insurance insight, rules, and data locked up in unstructured or semi-structured formats. Emerging technologies and big data are making this data accessible, interrogatable, and actionable for carriers of all sizes. The session will focus on research, progress, and case studies of successes and lessons learned around the use of unstructured data and big data analytics in the property/casualty claims industry.
There is no question, risks are getting more complex and the time frame in which organizations must respond to those risks is compressing. If you’re not prepared, emerging risks can interrupt or destroy your organization’s strategy. Organizations must build resilience and prepare to respond to the opportunities that these risks bring. To accomplish this, it is important to explore these risks as they unfold and develop a proactive strategy to respond. This presentation describes emerging technological risks that property/casualty insurance underwriters should consider such as artificial intelligence; digitalization of insurance; Blockchain; telematics; IoT devices; and silent cyber exposures. Learn how you can evaluate these emerging risks to develop proactive strategies by applying a simple framework.
As an attendee of this webinar, you will understand the need for investments, the use of stocks and bonds, the importance of investment managers and policy, and more. This webinar qualifies for one FMDC credit in the Finance & Accounting module.
Commercial auto hasn’t been profitable in years; however, it can become a strong performer. It’s time to ditch a strict reliance on the traditional commercial auto approach and implement a new strategy that gives you greater and more accurate insights on individual drivers and the businesses they represent. Attend this session to learn how using better data and analytics can revolutionize commercial auto risk assessment and improve overall profitability.
This session will discuss how the successful adjuster approaches investigation of each claim in the context of the real world of time and quality pressures. By participating in this session, attendees will learn how to apply investigative techniques in variable and unique claim situations, recognize when more in-depth investigation is necessary, and develop processes so that sufficient investigation is conducted that leads to claim resolution. This session is part of the foundations series and teaches foundational skills for those new to the industry or a claims role.
Equity exchange-traded funds (ETFs) have been at the core of insurance portfolios for years, offering accessible market cap-weighted indexes. This webinar will explore the ways in which insurers have led implementation of equity-factor strategies and exposures.
It is no secret regulatory oversight and personal choice are driving mutuals to examine the composition of their boards. In an industry where most directors remain in their positions long-term with little turnover, how can diversity initiatives take hold? This session explores trends in mutual board composition and discusses how mutuals can work towards creating a more diverse board.
Indexing continues to evolve the $38.5 trillion fixed-income landscape for all institutional investors. This webinar will discuss methods of investing and building efficient portfolios through an understanding of indexed bond funds as well as the future of fixed-income indexing.
Designed for those new to claims adjusting, this session will focus on what is expected of adjusters when investigating and adjudicating claims. Attendees will learn how to define the work of an adjuster, compare and contrast the adjuster’s function to the activities of others within the company, and understand what skills and abilities are necessary to succeed in a more challenging world.
Distracted drivers injure more than 1,000 Americans every day. Consumers, insurers, and original equipment manufacturers are increasingly aware of the epidemic but lack adequate tools to combat it. This session will share the latest findings on the impact phone use has on distracted driving risk and how nudging self-awareness can be used to improve engagement and safety – and the bottom line. It will also explore the psychological factors that make distracted driving so difficult to change and will other cover driving behaviors to paint a picture of the true risk of a driver.
Insurance companies around the world are rapidly embracing Exchange Traded Funds strategies. The number of insurance ETF adopters in the U.S. has more than tripled over the last two-and-a-half years. This growth has been fueled by both equity and fixed income ETF allocations, which have allowed insurers to leverage low-cost, easy-to-access, market-cap-weighted exposure. This webinar will explore industry and company level insights into portfolio construction using index-drive investments. BlackRock’s insights stem from modeling 500+ company balance sheets and more than 800,000 CUSIPS, which collectively represent more than 90 percent of the total U.S. insurance industry.
Insurance marketers exist in a challenging and dynamic environment, seeking to strike the elusive balance between sales quotas and underwriting expectations. Join this session to learn key findings of the recent LexisNexis study of insurance marketers, underwriters, and product managers from top personal lines carriers that will provide unique insights into the opportunities that exist for greater collaboration throughout the policy life cycle.
This session will provide background on the underwriting challenges of commercial auto and non-standard auto insurance. The presenters will describe factors that contribute to the declining profitability of both lines of business, review factors that contribute to loss severity and frequency in both lines of business, describe how regulation, legislation, and technology affect the profitability of CA and NSA, and describe how new technologies are or can be used by insureds, underwriters, and risk management and claims professionals to improve performance and user experiences.
Seeing claims like everyone else doesn’t provide an advantage but zeroing in on the most complex claims and taking action early can. Analytics-driven insights can help claims professionals identify key segments and proactively apply resources to higher-risk claims — right from the start — to achieve cost and efficiency gains, fast. Many organizations are gaining a competitive advantage from such tools as workflow automation and predictive analytics, using them to ensure consistency in execution and to achieve desired outcomes. This session will provide insight on how to utilize claims analytics to improve operational efficiency and gain a competitive advantage.
Unintentional loss arising from faulty workmanship, the use of defective materials, and improper design can pose significant financial risks to reputable contracting insureds. Traditional insurance programs typically do not provide coverage for such exposures and, for various reasons, insureds too often fail to secure the coverage solutions available in the market to address these exposures. This session will provide an overview of the current contractor’s errors and omissions market, affirm the need for contractors E&O coverage, include a discussion of contractors E&O exposures, address the coverage commonly provided, and outline how the contractors E&O and commercial general liability coverages routinely interact.
Auto policies primarily cover vehicles designed for use on public roads, leaving a host of other types of motor vehicles that may or may not be covered by homeowner’s policies, including scooters, Segways, personal mobility vehicles, “Barbie cars,” and riding lawn mowers. This webinar examines these and other motorized vehicle exposures and reveals potentially serious coverage gaps that many consumers and insurance professionals may not be aware of.
Carriers are increasing their use of drones and image analytics to adjust claims and respond to catastrophic events. This session will discuss several of these applications, how they integrate into the current claims process, the implications for adjusters, and potential issues that are arising in the market as a result of their use. This session will also discuss expectations for future applications and the resulting impact on the industry.
The U.S. economy has continued to exceed expectations for profitability and growth due mostly to tax reform and regulatory relief. However, are global concerns from Brexit, rising rates, growing Chinese debt levels, emerging market dislocations, tariffs, and the ever-present Trump tweet being properly discounted in the capital markets? The speaker will discuss Conning’s views of how these important global economic trends may come to shape U.S. fixed-income markets and insurance company portfolios.
The Florida legislative session ended on May 4th and a number of important bills were passed affecting P&C insurers that do business in Florida. This session will discuss autonomous vehicles, scooters and micromobility devices, texting while driving, civil remedy notices and appraisals as well as other issues that are being addressed by new laws in the state.
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Join us for this educational session as experts from Aon’s investment teams will share asset class views and highlight investment strategies that property/casualty insurers in the U.S. and Canada could use to increase portfolio yields, diversification, and total returns. This session will cover the teams’ latest thinking on a diverse range of investment alternatives with a focus on private markets, such as direct lending, private equity, and real assets investment strategies. It will also include perspectives on the risk-return expectations and the typical implementation options to consider for the strategies that are discussed.
This session will review the basics of record retention, the reasons behind establishing a retention program, the types of records that should be maintained by insurance companies, the scope and nature of legal research for retention, the step-by-step process for developing a program, and successful implementation strategies.
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Today’s farm is “not your grandfather’s farm.” Smart devices have had positive impacts on farming in terms of increasing productivity, understanding climate changes, and adapting to a farm’s environment. Furthermore, the business and family sides of farming have embraced the connected world. This session will look at the implications of the connected farm from a cyber-threat perspective. It will explore how ransomware, vandalism, social engineering, and cyberbullying could threaten the existence of someone’s agricultural livelihood. This webinar qualifies for one FMDC credit in the Operations & Insurance module under the course name Emerging Risks.
Proxy practice and proxy solicitation are some of the more mysterious issues in the mutual insurance industry. While significant rules and requirements for stock insurers exists, there is little to no statutory or regulatory guidance for proxy practice for mutuals. As a result, there are differing practices across the country, with most simply doing what they have always done. This session explores such proxy practices used by mutuals, discusses what options to consider, and explores the pros and cons of continuing with current practices in wake of the industry changes and the rise of policyholder activism.
The future is now – is your company prepared? This session will review the latest developments in 3D printing, the internet of things, and other disruptive technologies. The speaker will provide insight on how to conduct an annual checkup to evaluate these risks and explain how to implement operational practices to stay ahead of emerging technology. Whether you think of yourself as a tech junkie or you’re still playing your old LPs, this will be a fun and enlightening session about some big changes coming to our industry.
Cyber risks have moved beyond the business world and are now invading our personal lives as well. This session will discuss the risks and realities of personal lines cyber exposures. It will touch on the current risk landscape, the evolution of insurance products in the market, and the corresponding risk management tools. It will explore important topics such as cyberbullying, ransomware/extortion, social engineering, phishing, and virus and malware attacks.
From retaliation to #metoo, from “ban the box” to wage-and-hour disputes, employment practices issues affect every employer in one way or another. This session will look at several recent legal, social, and legislative movements in the employment practices liability space and the insurance market’s reaction to them. The session will also touch on risk management techniques insureds and carriers can use to mitigate exposure to current EPL claims trends.
After insurers have been battling many years of increased litigation costs associated with the practice commonly known as “Assignment of Benefits,” the Florida Legislature recently passed meaningful reform to address the abuses associated with AOBs.
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This session will explore the driving factors behind the insurance industry’s increasing use of exchange-traded funds as tools within general account portfolios. It will provide in-depth details on insurance-specific ETF use cases derived from statutory filings and survey-based insights from a recent study on the topic.
The only constant is change. Keeping up to date with familiar hazards, let alone emerging risks, is daunting. Individual risks at a location level might not cause huge concerns but spread over an entire book can lead to company-killing loss experience. How can you stay ahead of this changing environment? This session will focus on the latest trends and emerging risks within the property/casualty insurance industry, as well as provide insights into how entities are tackling the problems. Key sources for keeping abreast of emerging risks and strategies will also be shared.
As an attendee of this webinar, you will explore the history of farm mutuals, take a closer look at how they are operating today, and identify ways in which they can succeed and thrive in the future. This webinar qualifies for one credit in Operations & Insurance module.
Whether a company is a one-man shop or on the Fortune 500 list, it is not immune from today’s cyberthreats. Social engineering, cyber vandalism, ransomware, and many others have had devastating impacts on many businesses. This session will delve into the ever-changing cyberthreat landscape of our increasingly connected world. It will also look at the evolution of insurance products in the marketplace, which are changing as fast as the very threat vectors they seek to protect.
Board members of mutual insurance companies have fiduciary duties to act in the best interests of their members when providing direction and oversight to the mutual – and that duty is to the membership as a whole, not just one member or a small group of members. What happens if one member has a different view of the future of the mutual? What happens if someone buys a policy today with the sole purpose of intentionally causing disruption tomorrow? Is your company prepared? Is this really happening to mutuals? This session will discuss issues surrounding policyholder activism in mutuals and how companies can succeed while acting in the best interests of the membership as a whole.
When asked the question of whether labor is subject to depreciation in the same way as materials, some might be inclined to say “no.” By framing the question this way, the trial bar has developed a cottage industry around class action lawsuits in which insurers calculate actual cash value by applying depreciation to an entire damaged item such as a roof or a deck-. This session will help claims professionals understand this emerging exposure and revise their adjusting practices to reduce this risk.
There’s no doubt about it, Artificial Intelligence is going to significantly change the way we underwrite. However, AI may sound obscure to many of us and without much practical application in today’s underwriting practices. Join this session to learn about the insurance industry’s journey to modernize its underwriting processes. Discover how using big data and AI together can help grow your book, reduce expense, minimize loss, and provide a modern, near real-time customer experience.
This session will provide an industry analysis of mutual investment portfolios with consideration for their relative risk posture given how portfolio composition has evolved post-financial crisis. This examination will highlight current portfolio sensitivities in mutual portfolios relative to other insurers and propose investment solutions given these risks.
The automotive industry is facing the biggest upheavals in its history given the trends in electro mobility and autonomous driving. What can insureds do to minimize their risks, and what should insurers bear in mind when insuring these risks? This session will give insight into the emerging automotive issues and showcase how insurers can account for increased car automation in their pricing approach by making use of data to better understand the risk.
As an attendee of this webinar, you will understand groundbreaking progress being made in accuracy of extreme storm warning systems, learn how weather science can be a useful tool for mutual insurers to better serve their policyholders and limit exposure, and explore how to apply this new science to the challenges faced by the insurance industry. This webinar qualifies for one FMDC credit in the Operations & Insurance module.
The prevalence of cyber coverages offered by mutual insurance companies makes it important to understand the different nature of cyber coverages compared to traditional coverages. An emphasis on incident management and service support is the most meaningful aspect to cyber claims. Claims units servicing cyber coverage need to understand it is not just about writing a reimbursement check but ensuring that policyholders get the help they need from service providers that have the correct skill sets. Time frames are also important since traditional claims responses may take weeks, but cyber timescales shrink to days. This session aims to provide more clarity to the unique aspects of cyber claims.
Today’s digitally immersed consumers have grown accustomed to interacting with a company anytime, anywhere, and from any device. To supplement these expectations, this new digital land of opportunity enables insurers to leverage data from sources such as telematics, wearable devices, sensors, and GPS. Claims is an especially crucial touchpoint through which insurers can demonstrate their value. Carriers can ensure a positive claims experience and gain internal efficiencies by enhancing the digital capabilities that underpin this interaction. This session focuses on the impact of digital in insurance claims and provides insight on key elements of digital claims evolution.
Environmental, social, and governance factors are being advocated by some insurance regulators as a better way of measuring the sustainability and impact of an investment to a company or business. Former California Insurance Commissioner Dave Jones was the leader of a multi-state effort that administers the NAIC Climate Risk Disclosure Survey, and he launched the California Department of Insurance Climate Risk Carbon Initiative requiring the reporting of fossil-fuel investments held by insurance companies. Insurance regulators in California and five other states – Connecticut, Minnesota, New Mexico, New York, and Washington – mandated completion of the survey by insurers. A new global sustainable finance group at Fitch Group will review how ESG factors are incorporated into the credit rating process. This session will explain what the ESG factors are, why they are considered important, and the different ways insurance companies can address ESG factors in their investment portfolios.
While underwriting returns, expense efficiency, and asset management contribute to overall performance, winning companies tend to pull away from the pack based on their underwriting process. Intense competition and technological advancements have raised the bar on what constitutes an underwriting advantage. Companies will need to use technology and analytics to seamlessly and efficiently channel expertise from critical functions in making sound underwriting decisions. In this session, attendees will learn what techniques and tools are available and how to use them to get ahead in the ever-changing commercial lines market.
What was once only a consideration of mutual life insurance companies, the mutual holding company structure is now a growing trend for property/casualty mutual insurance companies of all sizes. This session will explore what a mutual insurance holding company is, why property/casualty mutuals are opting for this structure, and if the structure should be a topic of conversation in your boardroom.
Insurance entities typically require a great deal of customization because of their unique business considerations such as lines of coverage, short-/medium-/long-tail mix, severity vs. frequency, management, and the board’s risk appetite, along with regulator and ratings agency considerations. Therefore, effective investment management of insurance entities requires a thorough understanding of both sides of the balance sheet. Nuances behind each of these issues must also be considered. This presentation will explore each of these topics to help the audience appreciate the complexities involved in managing insurance assets and the myriad of issues that must be addressed by the asset manager.
Have you thought about benchmarking your compensation levels but don’t know where to start? Attend this webinar to learn about the Small Company Operations & Compensation Survey, a unique NAMIC survey, sponsored by Grinnell Re, that can help small mutual insurance companies discover if they are offering competitive pay and if their financials and board operations are on par with their peers. Brian Snyder, NAMIC’s marketing manager for products and services, will walk you through the data-entry process and review the reports and how they can be used effectively. This webinar is designed for NAMIC members who have not participated in the survey before or those who would like a refresher on entering their data and pulling reports.
This session will discuss the application of predictive analytics in identifying suspicious claims and how this approach can be implemented with a smaller number of claims than one might think. Through multiple detection methods, companies can use their specific claims experience to improve the effectiveness of industry fraud detection models.
It’s more critical than ever to leverage large, industry-wide data sets to uncover emerging trends that are driving fraud risk and impacting your book of business. This session will explore the latest trends based on industry consortium data and explain what investigators can derive from the trends. It will focus on new data insights that are particularly valuable to special investigation unit leaders in adjusting strategy to enhance operations. It will explore how to allocate appropriate resources, including investigators, to develop action plans for companies to stay ahead of the ever-changing fraud trends.
Insurance innovation programs are more than idea campaigns and updating technologies. The most successful programs rely on a foundation that includes critical elements such as a corporate mandate that addresses why a company is innovating, management input on what business models and technologies a company will and will not pursue, and an understanding of the forces that are shaping the insurance industry of tomorrow. With a solid foundation, an innovation system makes it possible for a mutual insurance company to implement a repeatable and consistent process for identifying and evaluating opportunities and developing new products, services, and capabilities for growth. This session will provide insight into how companies can establish a foundation for successful innovation efforts.
Mergers and acquisitions — and affiliations — activity is again heating up in the mutual insurance industry. This session will kick off with an update on M&A activity in the industry. It will then provide important insights on what board members should be aware of, including the impact a combination with another mutual can have on a company and the structural options that are currently available for mutual insurance companies. Our presenter will also explain how each structure will impact mutuals differently, and explore the discussions taking place in mutual boardrooms across the country as boards address their role in the process.
Reinsurance 101 is recommended as a prerequisite for this session This session is intended to introduce those inexperienced in reinsurance to common treaty reinsurance terms and conditions that impact the interpretation of coverage. It will also cover common obstacles to identifying and securing the reinsurance asset. Upon completion of this session, participants will have working knowledge of the key treaty terms and conditions and know how they impact cessions and challenges in processing and collecting reinsurance.
While the insurance industry has experienced significant changes the past 10 years, it still lags behind other industries in the adaptation of technology. However, with changes in customer demographics and the rapid expansion of insurtech, the industry is set to experience revolutionary change in the next five years, and the role of the claims adjuster will ultimately have to evolve and adapt. This session will explore the next generation of claims management and the future role of the adjuster.
As an attendee of this webinar, you will understand mutual company differences, rules under which companies operate, the importance of committee structure and how board responsibilities equate to certain financial liability issues. This session will also explore director duties, fiduciary/legal duties, conflict of interest and liability exposures. This webinar qualifies for one FMDC credit in the Management module.
The impact of wildfires will be felt for years as the events have created changes in legislation, regulation, and the ways in which insurers should view wildfire risk. This session will explore the reasons for the increased wildfire losses in 2017 and 2018 and the lessons the insurance industry should learn from the devastating events.
This webinar will explore the emerging risks of resource scarcity and climate and weather events. The first half of the webinar will focus on the potential impact of rising sea levels on claims and how climate change could be exacerbating regional meteorological events. The second half of the webinar will focus on the potential effects of water scarcity on food production and power generation. Our speakers will then dive deeper into how resource scarcity may lead to civil unrest and a potential disruption of business operations and supply chains.
This webinar will focus on how insurers can more efficiently engage with startups in a pilot or proof of concept. It will explore how to quickly assess the potential fit and value of a technology innovation and provide a process for collaborating without wasting time and resources.
What lies beyond claims file auditing? It involves engaging leaders and team members, adopting best practices, eliminating walls and silos between staff, and redefining roles and accountability. In this session, attendees will learn how an organization evolves beyond claim file auditing and how a rebranded audit process leads to improved outcomes and a culture shift within the organization.
Many insurers are proud of their relationships between their management and underwriters and their agents. However, as underwriting and distribution workforces age into retirement, carriers will no longer be able to rely on such relationships to alleviate gaps in their underwriting capabilities. This amplifies the need to ensure that underwriting strategies, operating models, and supporting processes/technology are tightly aligned. An insurer’s underwriting capabilities should be at a level of maturity appropriate to its strategy and governed in such a way that it can be sustained as the underwriting and distribution workforces change over time. In this session, attendees will learn how to keep underwriting processes consistent through the retirement storm.
Join Geoff Baker, NAMIC’s director of compliance, and Jeff Patterson (Director of Membership) and Theresa Szwast (President & CEO) from NISS, the National Independent Statistical Service, as they discuss best practices and provide practical advice designed to assist compliance personnel tasked with responding to data calls or statistical reporting.
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How might the traits of millennials and Gen Z alter how mutual insurance companies view and manage their investment process? In this informative session, speakers from Strategic Asset Alliance and Vanguard will analyze the developing demographic changes, as well as the regulatory and technological trends, that will impact the asset allocation decision-making and investment process of mutual insurance companies. The speakers will review recent regulatory changes that are opening more efficient investment choices for mutual insurers.
This session is intended to introduce those inexperienced in reinsurance to its basic concepts, enabling them to define the purpose of reinsurance, identify the different types of reinsurance commonly purchased, understand how the transactions are structured, understand how the relationships between the parties to the reinsurance agreement work, and determine the scope of coverages and basic calculation of cessions. This webinar qualifies for one FMDC credit in the Operations & Insurance module under the course name Reinsurance.
This session will provide an overall economic outlook – current and future – of the insurance industry, the United States, and the world. This session will also include a high-level look at industry trends and disrupters. The always-popular Dr. Hartwig will provide important insights that will help you manage your company’s risk.
As an attendee of this webinar, you will understand the current legislative arena and implications of tax reform and its effect on the insurance industry. This session will explore different taxation options and challenges as well as how the IRS reviews legislation and activity of small insurance company taxation. This webinar qualifies for one FMDC credit in the Finance & Accounting module.
As an attendee of this webinar, you will receive a high-level understanding on numerous human resources issues. Topics may include attracting talent, understanding the current and future labor markets, and managing generational shifts. This webinar qualifies for one FMDC credit in the Operations & Insurance module.
As an attendee of this webinar, you will learn the importance of investing in leadership development skills for company staff and leaders. This presentation will cover developing skills for healthy conflict resolution and will explore the question, “Cost or Critical Investment?”. This webinar qualifies for one FMDC credit in the Management module.
Join Sheri Scott, a fellow of the Casualty Actuarial Society and principal, consulting actuary at Milliman, who will provide an overview of how to create insurance rates, consider regulatory requirements, develop filing support, and file the rates for approval with state regulators.
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As an attendee of this webinar, you will gain an understanding of the importance of the audit committee, including its role, charter, steps to formation and committee composition. This webinar qualifies for 1 FMDC credit in the Finance and Accounting module.
Technology and information security issues have moved to the forefront when it comes to the known risks faced by businesses. With ever-increasing legislation at the state, federal, and international levels – all of which will directly impact the operations of mutual insurance companies, their vendors. and their commercial insureds – it is more important than ever for insurers to be aware of both the increased technical and legal risks as well as the potential opportunities that these ever-expanding sets of cyber- and data-security laws bring. We will discuss the role that state laws have played in filling the vacuum left by a glaring lack of federal action. In addition, we will discuss the many ways in which growing international regulations are impacting U.S. businesses and how to consider their applications, even if you never considered your business to be international in nature.
Webinar Description: Bruce Adams, senior vice president at Swiss Re America, will give a brief history of blockchain, talk about its various stages in innovation and its applications available today, and share case uses that give a glimpse of the technology's full potential. Bruce has been involved in Blockchain technology for the last two years. He is a member of Swiss Re's Global Blockchain Working Group & Swiss Re's Americas Blockchain Exploratory Group. He has presented on bitcoin & blockchain extensively over the last year and a half.
As an attendee of this webinar, you will review different types of consolidations, study the financial implications of each, and better understand what financial questions to ask as a board member. This webinar qualifies for 1 FMDC credit in the Finance and Accounting module.
This session will go into detail about the opportunity to reinvent small to midsize business's insurance experience through digitalization. As illustrated by a shift toward automation and greater use of the online channel in sectors such as banking, bringing the insurance experience online represents a progression toward a more accessible and transparent customer interaction with the product. A key goal of the insurtech players working with the SMBs segment is to make the experience from purchase through to servicing and claims painless and transform it from transactional based to relationship based.
When it comes to your company's digital strategy design, you want to make sure you are using the right channels and technology to reach your target audience. Join Chris Paradiso to learn where you should - and might not need to - invest your resources to get the exposure and growth you're looking for.
As an attendee of this session, you will develop an understanding of what succession planning is, the role of the board in overseeing the process, and the importance of written plans for succession of directors, officers and managers as well as requirements/evaluation of key positions. This webinar qualifies for one FMDC credit in the Management module.
The customer experience is always evolving, and we'd like to take the time to discuss how technology can help you live up to your customers' expectations. Join Chris Paradiso to learn about some of the best customer experience tools. You'll also learn how your organization can receive more reviews online, how to survey your customers to see how they feel about their experience, and how to receive more referrals for your company in the long run.
Employers’ use of various employment agreements is facing more challenges than ever. Several states have enacted laws barring enforcement of certain noncompete agreements as a violation of public policy. The Defend Trade Secrets Act was enacted and impacts employers’ use of nondisclosure agreements. Corporate raiders challenge no-solicitation agreements. A key is understanding why you want what you want. Join this interactive session as we compare and contrast various types of agreements and the purposes they serve. We’ll also discuss tips for shaping an agreement that advances your business needs without creating unintended consequences.
This session will focus on illustrations of where we are in the underwriting cycle highlighting specifically the clear need for underlying product innovation and areas where market changes are likely to emerge. The session will further highlight potential non-traditional disruptors including broader application of securitization through alternative capital as well as Insurtech, which is understandably excited by the opportunity to enhance efficiency indicating a $2 trillion opportunity over the last decade. The landscape is changing quickly and the need to understand / adapt / address these threats is urgently upon us.
In the summer of 2016, the Equal Employment Opportunities Commission published guidance suggesting employers reboot their harassment prevention training programs and turn the dialogue to discussions of workplace civility and respect. Since then, we’ve seen an explosion of sexual harassment claims — from the halls of Congress to halls of Hollywood — giving birth to legislative action to enact even more stringent laws. Join this interactive session as we review the EEOC’s 2017 charge statistics, national trends in harassment charges, and the EEOC’s Promising Practices for employers to prevent workplace harassment.
Across the nation, we see three primary trends related to laws addressing the use of marijuana: (1) legalization, (2) decriminalization, and (3) legal use of medically prescribed marijuana. Each has potential or actual implications in the workplace and to employers’ related policies, practices, and programs. Join this interactive program as we compare and contrast pitfalls to avoid and talk about proactive practices, including a Top 10 list of workplace implications of these legal trends.
Apps are designed to engage with users. Implemented correctly, an app can help keep customers and potential clients interacting with your brand in a way that is positive and engaging. In this session, we will explore the rapid growth of technology and develop an action plan for building a web application that’s easy to discover, install, and use. You’ll also take an in-depth look at the target audience to allow you to design a custom app optimized for user experience.
As an attendee of this webinar, you will receive an overview of the intricacies and difficulty in modeling the severe thunderstorm peril. You will develop a better understanding of how data is being used in catastrophe modeling, which tools are utilized by companies to assist modeling severe thunderstorm risks, how the risk in small companies impacts the reinsurance purchase, and more. This webinar qualifies for 1 FMDC credit in the Finance and Accounting module.
This session will provide an assessment of insurtech opportunities, technologies, and approaches from a carrier's point of view, with specific attention given to the impacts of emerging tech on product development and changing distribution. Will Thorne is responsible for the innovation initiatives of SCOR's Lloyd's syndicate, Channel, including new product and distribution development. Channel's Innovation team looks at how new thinking and new technology can help insurance respond more directly to the problems that our clients face, using a collaborative approach to product development. Will joined the Channel Syndicate in 2012 following three years spent at Omega Insurance and has an underwriting background in a variety of different classes. He is also involved in several insurtech industry initiatives, including sitting on the UK Treasury/Tech City Fintech Delivery panel.
While legislation at the federal level stalls, states and local jurisdictions are enacting paid and unpaid mandates upon employers to provide employees with time off from work for a variety of reasons including sick, family, and parental leave; military and jury service leave, and more. Join this interactive program as we talk through a comparative review of the legislative trends and recent laws that have been enacted. We’ll also go over how employers should prepare to shape these important public policy issues and give tips for preparing to comply with new mandates.
Join Jim Kennedy, former CEO of Ohio Mutual Insurance Group and NAMIC board chairman, and Vin DeLucia, NEAM chief investment officer, for an economic and capital markets update. Looking at the United States, capital expenditures have re-emerged and the labor market continues to strengthen. However, security packages are getting weaker and loan covenants are lighter. BBB corporate bonds are at a new high as a percentage of the overall investment grade in the corporate bond universe. Student loan debt has eclipsed $1.6 trillion, which, for comparison, is about two-thirds of Italy’s outstanding debt. Add in the ongoing geopolitical tensions and investors have more to be concerned about than meets the eye. This webinar will walk you through the good and the bad and help you grapple with what is going on in capital markets and what this means to your business.
Insurtech is the rapidly expanding development and application of new technologies and operating models to fundamentally change current business models, financial models, and/or industry ecosystems. New investments are attracting significant venture capital and spawning new business models that use technologies to change how the industry operates. In this webinar, Mike Fitzgerald, CPCU, senior analyst at Celent, will provide an update of what is happening in insurtech and will share some practical examples of how the insurance ecosystem is changing.
C.J. Rathbun of First Consulting & Administration, Inc., will offer ideas and best practices for mutual insurance boards of directors to better align regulatory expectations, company expectations, and board expectations. This webinar will explore oversight perspectives encapsulated by the phrase “hands on, fingers off.” The session will also cover annual board self-evaluations, which can offer additional insight into continuously improving oversight of a company.
With the NAIC’s 2017 adoption of its new Insurance Data Security Model Law, and its recent enactment in South Carolina, insurers should be reviewing the legal requirements of the model and begin developing policies, procedures, and forms to ensure that your company is in compliance.
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Robotic Process Automation, or RPA, has migrated quickly from the factory floor to the office. Insurance companies have joined other financial services companies in taking advantage of this relatively low cost, quick to deploy technology. It offers opportunities to reduce the frictional cost of administration throughout the value chain, but especially in the middle and back office. In this session we will look at the RPA technologies available, what to consider in evaluating use cases, and best practices in getting this technology to work for you.
As an attendee of this webinar, you will learn how to create a marketing plan and develop an understanding of licensing, advertising, marketing representatives, and more. This webinar qualifies for 1 FMDC credit in the Operations and Insurance module.
Rapid technological advances and further globalization make the risk landscape increasingly complex. Moreover, understanding the new landscape can be difficult because insurance has typically looked backward to predict the future. Past trends may no longer be reliable predictors of tomorrow, so more innovative tools are needed. To that end, the Liability Risk Drivers model is one of the ways Swiss Re is better predicting the future using cutting-edge data analytics.
This session will take a deep-dive look at the partnership between e2Value and Willis Towers Watson, specifically focusing on the resources the organizations have dedicated to the partnership. One of the achievements of the partnership is the recently developed Structure Insurance Score. The score measures risk inherent to a property insurer based on several unique characteristics of a home or building - ones typically outside traditional rating characteristics. Attendees of the session will not only learn more about the score and its advanced uses of data analyzation, they'll learn about how the companies' shared goals and innovative partnership led them to success.
Connected cars, Internet of Things, and other new data sources pose challenges and opportunities to make insurance more precise, personalized, and convenient. In this session, we will cover the sources of meaningful data and their impacts to insurers and consumers.
A big reason that so many insurance companies struggle starting innovation systems is quite simply because they’re not quite sure how to start. Invariably, they discover surprising bends in the road along the way and often say: “I wish I’d have known ahead of time that X was going to happen.” The real problem with some of these issues is the decision that seems intuitively correct is often not the best way to go. However, this does not become evident for quite some time, potentially derailing innovation during the correction process. This webinar will review 6 key decisions that senior executives will encounter as they launch and then manage and systematic approach to innovation.
The North American insurance market is adopting telematics and is interested in learning about its value proposition beyond usage-based insurance. Telematics data delivers a lot more value to insurers, including a significant reduction in the average cost of claims as well as the ability to combat fraudulent claims and streamline crash detection processes for greater accuracy and improved data combination techniques that optimize data from individual resources. Telematics speeds up the entire claims process, and the sooner an insurer begins doing so, the lower the average claims cost — we’ve seen time to close reduced by more than 50 percent.
Most large insurers continue to iterate and expand their telematics offerings. Viable solutions have made it easier for mid and small carriers to dive in. This session will focus on what is working well, what roadblocks currently exist, and what a roadmap is likely to look like in the future. In particular, we’ll highlight the role of insurers in identifying and reducing distracted driving.
In this session, attendees will learn about what makes a good innovation and technology partner. Bob Mozeika with Munich Re and Ali Safavi with Plug and Play Tech Center will share how carrier partners can best identify what is needed to make a successful partnership and gain the most value out of the accelerator. Attendees will understand the value add benefits of joining an accelerator and how they can apply this to their current business models.
Everyone has heard about digital disruption, even if only because their local Blockbuster was put out of business by Netflix. However, Digital means different things to different people, and comprises a host of underlying technologies, including cloud, mobile and social. At its most transformational it represents a change of business model rather than a change of technology.
One of the biggest myths about innovation is that it is only relevant to or within reach of the largest insurers. The reality is that innovation is size agnostic. There not only is a need for innovation at companies of all sizes, it is do-able by companies of all sizes. And the opportunities for smaller carriers to leverage innovation to become giant slayers are real. This webinar will look at common assumptions about what a company needs in order to innovate and tackle them one by one. It will also provide examples of innovation success at comparable organizations.
As an attendee of this webinar, you will develop a better understanding of key financial ratios and key performance indicators, analyze company trends, identify strategies to reach goals, and more.
Digital transformation is essential for insurers to be able to compete in today’s market. Modern policy, billing, and claims systems are indispensable to that transformation. Insurers are rethinking how core systems can support their businesses in sales and service in the digital age. Join Karen Furtado to discuss how core systems are evolving and expanding and learn about new trends such as microservices and how the sophisticated use of APIs can help insurers thrive in the digital world.
This session will offer insights into the evolving nature of innovation and disruption impacting the property/casualty industry. It will provide perspectives on the focus and future opportunities of the growing investments in insurtech. We will dive deep into the top disruptive technologies facing mutual insurance companies, the disruptors on which venture capital managers are focusing, and the effective responses to address challenges.
In this session, Bob Mozeika with Munich Re will identify how large disruption is impacting the regional insurer. Attendees of this session will understand how emerging technologies can help with small incremental improvements and changes in processes to support efficiencies in the regional insurance business model.
Blockchain is a new technology that has the potential to transform many sectors of the economy, including insurance and risk management. This webinar will outline the basic concepts of blockchain and introduce an insurance-specific consortium named RiskBlock that is developing blockchain applications for the industry.
Change is being forced on insurers whether they like it or not. Several of the orthodoxies traditionally underpinning the industry are being challenged and disrupted. Customer expectations are increasingly being set by unrelated or adjacent industries. Technologies allow startups to compete using customer centricity, as opposed to products, as their value offering. And a new insurance paradigm is being crafted regardless of whether incumbent insurers choose, or are able, compete in a new digital era.
Join this session for an inside look at how Grange Insurance has taken an inclusive approach to developing a culture of innovation. With multiple distinct awards for its innovation efforts under its belt, the company was also the third insurance carrier nationally to have an Alexa application. It recently launched a new mobile application that was built and deployed within 90 days. And it is now a corporate sponsor of the nonprofit startup accelerator, Fintech 71. Tim Cunningham, vice president and chief information officer with Grange, will lead a highly informative session outlining some of the company’s key philosophies that led to its recent success in technology and innovation. Recognizing that change is hard and innovating within an industry that is naturally risk adverse is even harder, this session will give you fresh perspective on how you can bring innovative thinking into your own company’s philosophy while sharing some do’s and a few don’ts from Grange’s own experience.
The Future is Fearless. The insurance business model has remained largely the same over the past 200 years. Simply enough, it's capital, placed against risk, in the form of tailored products, sold through channels to customers, to generate returns for the company. Except everything about it is undergoing dramatic changes. This session will explore the explosive trends that are putting the insurance company in a position for unprecedented change. Rather than admiring the disruption facing today's companies, this session will help to chart the course to future by focusing its participants on what is required to compete and win.
Most insurtechs offer opportunities – chances for insurers to partner with them, license technology, or simply learn from them – rather than threats. Most insurers will face disruption from startups only if their competitors choose to embrace a technology that they themselves do not. But how can insurers that don’t have the budget for venture funds or innovation labs take advantage of these new innovations, both internal and external to the insurance industry? No company can leverage every innovation in an effective way. The goal is to understand the marketplace and make decisions that will have the most impact on your lines of business.
This session will expand on the disruptive forces impacting the insurance industry and share new trends and technologies that will help transform the insurance industry as well as identify key players that are driving this change. Currently, a large sector of innovative developments is focused on improving the customer experience including the quoting, servicing, and claims process. Attendees will be able to identify the value these digital trends can bring to mutual insurance companies and their customers.
Half of all insurers claim they are in transformation mode, responding to new demands in the digital, connected world. Insurtech, emerging technologies such as autonomous vehicles and artificial intelligence, and data in the digital world are all forces driving industry change. Mark Breading will discuss what these trends and forces mean for the mutual environment, especially for companies that are regional or state focused.
This session will offer insights into the evolving nature of innovation and disruption impacting the property/casualty industry with perspectives on the focus and future opportunities of the growing investments in insurtech. It will dive deep into the top disruptive technologies facing mutual insurance companies as well as the disruptors on which venture capital managers are focusing, and the effective responses to address those challenges.
As an attendee of this webinar, you will gain a high-level understanding of the important tools needed to recruit quality board members with a variety of backgrounds and experiences. This webinar qualifies for one FMDC credit in the Management module.
As an attendee of this webinar, you will receive a high-level overview of the underwriting process and develop an understanding of pricing, forms, insurance to value, catastrophe mapping, underwriting audits, and more. This webinar qualifies for 1 FMDC credit in the Operations and Insurance module.
As an attendee of this webinar, you will receive a high-level overview of the adjusting process and develop an understanding of catastrophe management, determination of values, depreciation, bad faith, fraud, claims audits, and documentation. This webinar qualifies for 1 FMDC credit in the Operations and Insurance module.
As an attendee of this session, you will learn the importance of reinsurance, understand the costs associated with reinsurance, develop an understanding of the reinsurance partnership, and more. This webinar qualifies for 1 FMDC credit in the Operations and Insurance module.
As an attendee of this session, you will develop an understanding of the roles and responsibilities of the board, management, and service providers in the investment process, as well as be able to identify the key components of a sound and repeatable institutional investment process. This webinar qualifies for 1 FMDC credit in the Finance and Accounting module.
As an attendee of this session, you will gain a better understanding of rating agencies, key matrices, ratios, surplus, return on equity, policyholder retention, and more. This webinar qualifies for 1 FMDC credit in the Finance and Accounting module.
As an attendee of this session, you will learn about the variety of resources available to members, including free and low-cost options, as well as how the association continues to develop and evolve to better serve its membership. This webinar qualifies for 1 FMDC credit in the Management module.
As an attendee of this session, you will learn how to evaluate current risk, understand the board’s role in recognizing risk, establish a dashboard to monitor key drivers of risk, and more. This webinar qualifies for 1 FMDC credit in the Operations and Insurance module.
As an attendee of this session, you will develop an understanding of your role as a board member vs. the role of management, as well as be given the tools to define and develop a best practices approach to governance. This webinar qualifies for 1 FMDC credit in the Management module.
As an attendee of this session, you will explore real world claims situations, discuss D&O exposures, understand common features of D&O forms, review conditions, exclusions, insuring agreements, and more! This webinar qualifies for 1 FMDC credit in the Management module.
As an attendee of this session, you will learn the basics of insurance accounting, review the difference between earned and unearned premiums, and go over payment options, reserves and more! This webinar qualifies for 1 FMDC credit in the Finance and Accounting module.
As an attendee of this session, you will discover how to develop a business plan, establish benchmarks, evaluate risk, and more! This webinar qualifies for 1 FMDC credit in the Management module.
As an attendee of this session, you will learn how an insurance company works, including administration, human resources, loss control, information technology, and more! This webinar qualifies for 1 FMDC credit in the Operations and Insurance module.
As an attendee of this session, you will learn the basics of insurance accounting, review a balance sheet, and gain an understanding of liabilities, surplus, reserves and more! Join Abby De Zeeuw CPA, MBA, Principal at Cain Ellsworth & Company, LLP, as she shares her insights on this topic. This webinar qualifies for 1 FMDC credit in the Finance and Accounting module.
As an attendee of this session, you will learn how to hold an effective Board Meeting including preparation, distribution of materials, execution of meeting and completion of post-meeting tasks. Join Gregg Dykstra, Chief Operating Officer and General Counsel at NAMIC, as he shares his insights on this topic. This webinar qualifies for 1 FMDC credit in the Management module.