AM Best: Highly Innovative Personal Auto Carriers Have a Significant Competitive Edge

Nirmal Ranganathan, vice president engineering AI architect at Rackspace Technology, says insurers could gain satisfaction from cutting costs and increasing some sales through IT, but many don’t realize they could benefit significantly from integrating AI throughout the business.

In his book, Agent to Agent: Revealing the Story and Strategy for Insurance People, BI&I Group Vice President and Chief Operating Officer Leo Bados Jr. shares tips for building an insurance business and leading a team with confidence.  

Tanner Sheehan, vice president and general manager at US Claim Solutions, Lexus Nexus Risk Solutions, said according to their survey data, 57% of automobile insurance claimants were more likely to hire an attorney before ever even having a conversation with their insurer

Troy Tepe, vice president of safety at Charles Taylor, says with workers’ compensation premiums on the rise, a safety-first culture is critically important in the workplace

Tim Senechalle, Chief Investment Officer for AAM, said the P/C industry has a healthy balance of equity exposure.

Mark Berven, President and Chief Operating Officer of Nationwide Property & Casualty, said that as severe weather increases, we must shift to a “predict and prevent” mindset to protect customers. 

Dadong Yan, Head of Barings Portfolio Finance, said portfolio finance is the next extension in the evolution of private investment grade assets. 

Lisa Rowland, assistant vice president of marketing and distribution at Berkley Select, discusses Rebranding strategies, Innovation in marketing, Creating strategic marketing campaigns, and attracting the next generation of marketing talent.

Dan Ward, atmospheric scientist and director of model development, Karen Clark and Co., discusses the outlook for the 2024 hurricane season. Ward expects a very active season this year, especially in places such as Florida and Louisiana, as well as wildfire as a secondary peril.

AM Best Associate Director David Blades and Associate Analyst Justin Aimone discuss a new Best's Special Report that finds the impact of social inflation on insurance claims costs is unpredictable and excessive.