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.
The Management Conference is a summit for CEOs, executive teams, and future leaders of the industry. Power sessions focus on strategy, innovation, leadership and industry trends. Concurrent sessions dive into operational and emerging issues. Workshops and interactive sessions allow for extended discussions and opportunities to learn from fellow leaders in the industry.
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.
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.
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.
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.
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.
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.
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.
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.
The Agricultural Risk Inspection School is a popular and intensive two-and-a-half day program for loss control specialists, underwriters, managers and supervisors. Both fundamental and advanced topics are offered to meet the varying educational needs of those working in loss control today. The highlight of the school is the farm learning lab where attendees go through a hands-on inspection of an area farm.
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.
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.
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.
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.
The Leadership Development Workshop is a one-and-a-half day interactive workshop designed for new and emerging managers, supervisors, and team leaders in the insurance industry. Attendees will explore and gain insight into the four leadership essentials through in-depth instruction, group discussion, hands-on exercises, and facilitated learning. At the conclusion of the workshop, attendees will leave equipped with tools to be a more effective team member or leader.
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.
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.
Making up 80 percent of our economy and growing, the service economy brings about unique and growing challenges and opportunities for the insurance industry. This session will look at independent contractors, the growing allied health field, and the booming gig economy. It will explore the service economy through the lens of liability exposures, specifically professional liability, and discuss some common solutions the industry has created and is creating to address the changing landscape.
Once thought uninsurable, the private flood market now represents a largely untapped opportunity at a time when many in the industry are facing profitability challenges. Hear about the technological advancements that have turned the tide on the industry's thinking on flood and find out why flood is a peril that can now be written with confidence. This presentation will be available as part of both the Underwriting and Claims series.
This session will evaluate the tools used by adjusters in investigating claim facts, including a discussion about the use of official reports and statements and gathering other evidence. Attendees will gain insight into which investigation tools are necessary, learn how to develop the facts of each case efficiently, and select investigation steps that are necessary. This session is part of the foundations series and teaches foundational skills for those new to the industry or a claims role.
Emerging technologies are reshaping many industry sectors, and personal lines is no exception. A wide variety of technologies, including artificial intelligence, new user-interface technologies, drones, the internet of things, and autonomous vehicles, have implications for insurers. It is a challenge for insurers to sift through the developments in all these technologies and understand how they affect customers, risks, and operations. During this session, Mark Breading, partner with Strategy Meets Action, will share SMA’s research on emerging tech in personal lines. He will discuss what insurers are planning, which technologies executives believe will have the most impact, and how to prioritize investments and incorporate new activities into business strategies.
A significant amount of financial and human capital is expended to underwrite new and renewal policies. Depending on a specific company’s processes, investments are made without realizing commensurate returns. This session will discuss how to apply predictive analytics to underwriting processes to ensure policy underwriting expenditures generate the highest possible gains.
This session will examine a process for coverage review and analysis, beginning with exploring the impact of contract language when applying and interpreting coverage. Attendees will learn how to identify areas of questionable coverage, explain coverage issues to insureds, and recognize how coverage will apply in various fact situations. This session is part of the foundations series and teaches foundational skills for those new to the industry or a claims role.
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.
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.
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.
This session will examine the pervasiveness of insurance fraud and how the adjuster can assist in combatting 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.
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.
Kaitlyn Isley of McLagan will share top trends and results from NAMIC’s comprehensive compensation survey. Learn about the factors that are affecting the labor market in the insurance industry and what you need to do to ensure your pay plans are effective. Representatives from The Carlisle Group, the survey’s sponsor, will join Kaitlyn in the presentation and will provide advice on how companies can improve their hiring and retention efforts.
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.
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. Join Tim Cercelle, a leader in Deloitte's Regulatory and Operational Risk Practice for the Insurance Industry, as he helps us to understand the compliance challenges facing insurance companies and describes leading practices used to increase efficiency and effectiveness of compliance operations.
The NAMIC Annual Convention focuses on emerging-issue education. With sessions designed exclusively for the C-suite, plus educational tours balanced with casual networking opportunities, we’re ready to help you maximize your time out of the office. We’re bringing together the most respected experts and the most valuable resources, like reinsurers, brokers, rating agencies, and more to help you get the access you need, and strengthen your peer network.
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.
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.
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.
The Communications + Marketing Workshop is a one-and-a-half day interactive workshop designed for internal- and external-facing communications, public and agency relations, advertising, and marketing professionals in the mutual insurance industry. The workshop features hands-on learning including roundtable discussions, case studies, idea exchanges, and presentations from industry experts.
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.
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 to evaluate your board. This webinar qualifies for one FMDC credit in the Management module.
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.
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.
This session will analyze processes for improving outcomes when litigation occurs and will include management of defense counsel through hands-on support of the defense strategy. Attendees will learn how to identify defense counsel appropriate for the type of loss and coverage involved, develop a panel of defense attorneys, and apply defense strategies appropriate to the jurisdiction. This session is part of the foundations series and teaches foundational skills for those new to the industry or a claims role.
Today’s modern economy is driven by businesses that are increasingly reliant on evolving technology. Technology trends such as miniaturization, portability, the internet of things, and cloud computing are creating different, costly, and complicated new risks for business owners. This presentation will explore these trends and the impacts on equipment breakdown exposures on all types and sizes of businesses, including retail, service, and manufacturing. Equipment loss examples involving these technologies and industries will be shared. This presentation will also look at how the insurance marketplace has recently begun to embrace these exposures by offering new coverage solutions. This presentation will be available as part of both the Underwriting and Claims series.
Businesses of all sizes in every industry are growing more aware and more concerned about cyber risks. Dealing with viruses that shut down systems or employees being duped into paying fraudulent invoices via sophisticated email scams are troubling organizations from coast to coast. On another front, the #MeToo movement is raising awareness and concerns about harassment at work among employees and employers in every sector. This session will discuss how employment practices liability insurance can help address these issues.
Setting appropriate reserves is both a skill and an art. This session will discuss the how and why of reserve setting. Attendees will learn how to state reserves based on the facts and application of coverage to the ultimate value of the case, identify processes for setting accurate reserves, and weigh the importance of reserves to actuarial analysis, rate making, and overall profitability of the company. This session is part of the foundations series and teaches foundational skills for those new to the industry or a claims role.
Fewer than 20 percent of CFOs say their organizations are investing in new technologies to enhance the efficiency of their financial processes. For auto insurers, this limits the potential to elevate the policyholder experience. When companies cling to outdated methods of claims payment, it results in a highly fragmented policyholder experience. It also adds unnecessary administrative costs. During this presentation, the speaker will explore ways to modernize the claims payment process from start to finish — significantly reducing costs while improving the policyholder experience.
For the 200-plus writers of commercial auto in the U.S., the combined ratio remained flat in 2018 at an unsustainable 111. Ten percent of all carriers write slightly more than one-third of the net premium dollars ($11.6B), with an aggregate CR of 98.1. Historically smaller carriers outperformed in commercial auto, so what’s going on? These carriers aren’t achieving this volume with specialty underwriting. The answers appear to be in their ability to leverage agent and broker expertise for improved selection. This session will dig into several books of business and explain why frequency and severity aren’t moving despite the agents’ belief they are sending us the best business.
Negotiating skills are one of the most important areas for claims professionals. This session will analyze how various approaches can impact outcomes. Attendees will learn how to identify the goals of all parties in the negotiating process, develop a path for effective negotiation, and construct negotiation strategies based on the leverage held by all parties. 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 wrap up the Claims Foundations Series by exploring how adjusters can become better at what they do and will include a discussion about improving communication skills and recommending continuing education. Attendees will learn how to identify personal skills and abilities that can be enhanced or improved, understand how to communicate more effectively in claims situations, and learn how to formulate a process for continual improvement. This session is part of the foundations series and teaches foundational skills for those new to the industry or a claims role.
As an attendee of this webinar, you will understand the importance of the board's role in evaluating company growth potential and goals, discuss the potential of new business versus current book of business, explore the impact on surplus and effect on ratios, and more. This webinar qualifies for one FMDC credit in the Operations & Insurance module.
As an attendee of this webinar, you will understand what is involved in mergers and consolidations, explore the reasons for considering a merger, discuss the terminology and steps involved, and learn the importance of outside expert advisors. This webinar qualifies for one FMDC credit in the Management module.
This leading annual conference is designed for Claims professionals and offers informative educational sessions, valuable peer-to-peer networking, unique local experiences, and connections with industry partners.
Share your insights, gather valuable information on current issues and learn more about industry trends at this annual two day event designed for mid-to senior-level underwriters, managers, and executives. With informative presentations from insurance industry experts and consultants, numerous networking opportunities, and easy access to commercial lines service providers, you don’t want to miss this leading industry event.
Join the most powerful and productive event of the year exclusively for CEOs of member primary insurance companies. Here you will gather in small groups to share and gather strategic insight, ideas, and foster connections with your peers. CEOs tell us this is one of the most valuable events they attend each year.
This annual event is designed specifically for personal lines underwriters, marketing executives (agent relations/business development), and product development professionals from property/casualty insurance companies. It provides educational sessions focused on emerging issues, professional development topics, and industry trends. Attendees will have the opportunity to network with peers facing similar issues and gain insights to put to work back at the office.