NAMIC’s 2019 Property/Casualty Compensation Survey opens in mid-February. Join Kaitlyn Isley, manager with McLagan, in this 411 webinar as she explains how you can participate and get the most out of this comprehensive survey. Marc Gyimesi, Maury Hennessy, and Brian Schrift of The Carlisle Group also will provide a brief look of last year’s trends, discuss the value of compensation benchmarking, and provide an overview of what companies can expect from the 2019 employment landscape.
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.
The 2018 data entry period for the Governance Practices & Board Compensation Survey, sponsored by GenRe, begins in early March. This webinar will show how you can use this unique NAMIC resource to benchmark your directors’ compensation levels and your board processes with your peers in the mutual insurance industry. Brian Snyder, NAMIC’s marketing manager for products and services, will walk you through the data-entry process, cover any new features of the survey, and discuss 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.
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.
Join Brad Lucas of Ward Group as he explores the highlights of NAMIC’s most recent benchmarking report on executive compensation. Brad will be joined by representatives of The Jacobson Group, the study’s sponsor, who will discuss how the trends that are revealed in the study could affect hiring and retention practices among mutual insurance companies.
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.
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 an overall economic outlook of the property/casualty insurance industry. This session will include a high-level look at industry trends and disrupters. The always-popular Robert Hartwig, Ph.D., will provide important insights that will help you manage your company’s risk.
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.
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 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.
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.
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.
This webinar will focus on how insurers can more efficiently engage with startups in a pilot or proof of concept. Insurers will learn how to quickly assess the potential fit and value of a technology innovation, providing a process and focus for collaborating without wasting time and resources of either party.
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.
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.
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.
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.
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.
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.
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.
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.
Using a company’s internal claims data, predictive analytics can be utilized to enhance a fraud-detection program. 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.
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.
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.
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.
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.
With Bootcamp 2.0, we offer directors the opportunity to immerse themselves in the world of corporate governance within the insurance industry. Whether your board is new to governing, new to insurance, or just needs a refresher, Directors’ Bootcamp 2.0 is an investment you can make in your company’s futures. In this two-day interactive seminar, your board members will gain the tools and the knowledge they need to effectively govern within the mutual insurance industry.
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.
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 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 provide insights into the emerging automotive issues facing the insurance industry.
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.
There’s no doubt about it, Artificial Intelligence is going to change significantly 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 Columbia Insurance Group’s journey to modernize its underwriting process. Discover how it used big data and AI together to help reduce expense, minimize loss, and provide a modern, near real-time customer experience. This presentation will be available as part of both the Underwriting and Claims series.
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.
Forum is the gathering place for small to medium sized mutual industry professionals. From the flash forum for state associations to the carefully designed Professional Farm Mutual Manager courses, the Forum is where participants can find networking opportunities and educational sessions that encompass the aspects of running and working with farm mutual companies. At Forum, managers, directors, board members, state association leaders, service partners, and up-and-coming leaders in the industry can benefit from the technical and strategic education offered.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
It’s a new world of changing customer expectations. This session will discuss the way claims processing and adjudication is moving past the narrow application of straight through processing to more complex levels of claims handling. It will also will discuss the enabling technologies that are making this possible and the impact on claims organizations and their customers. The presentation will be a combination of research and case examples.
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 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.
When you can’t bring people together in the same physical space… bring them together in virtual space! Held in conjunction with NAMIC's Annual Convention each year, Connect Differently is an online convention option that allows individuals and companies across the world to attend sessions from the comfort of their homes and offices.
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 alignment of interest and shared benefit among all parties is at the heart of mutuality. Common interests and sharing knowledge are also at the heart of the Communications + Marketing Workshop, the only marketing workshop for the mutual insurance industry.
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.