In2Leadership keynote speaker Dale Porfilio, FCAS, MAAA, is the Chief Insurance Officer for the Insurance Information Institute (Triple-I) and President of the Insurance Research Council (IRC). In these roles, he leads the research and education activities of both organizations, working closely with Triple-I and IRC subject-matter experts to develop data-driven industry insights and analyses. Dale previously worked at Genworth Financial, Kemper, and Allstate for a total of 29 years. Dale is a Fellow of the Casualty Actuarial Society (FCAS) and Member of the American Academy of Actuaries (MAAA). In this episode of In the Know, Chris Hampshire and Dale discuss climate change, legal system abuse, and some of the topics that Dale will be addressing as the keynote speaker at April’s In2Leadership conference.

 

Key Takeaways

 

• Dale grew up knowing that insurance was always a career option.

• Actuarial sciences allowed Dale to apply his strengths to insurance organizations.

• The 2025 insurance industry is in a dynamic state.

• The outstanding response of the insurance industry to climate change.

• Risk-based pricing is a critical consideration for carriers’ actuarial goals.

• The importance of allowing market competition and less regulatory restrictions.

• The name “legal system abuse” does matter.

• Developments in the legal system abuse sphere.

• The impact of third-party litigation funding on the commercial sector.

• Strategies for improving the practice of third-party litigation funding.

• Dale’s pragmatic take on the five-year future of the insurance industry.

• Embracing technology in ways that are helpful to the future of insurance.

 

Quotes

• “For me, I always knew that insurance was an option.”

• “The 2025 insurance industry is in quite a dynamic state.”

• “Allowing market competition and less regulatory restrictions is helpful overall.”

• “How can we make the practice of third-party litigation funding as healthy as possible?”

• “Insurance companies are here to make people whole. We don’t always need to have attorneys involved at the level they are today.”