Property & Casualty 360 Perspectives podcast

Market conditions that are a moving target, talent shortages, and quick advancements in technologies such as AI have created unique challenges for the specialty insurance market. According to Mike Kerner, a member of the board of management at Munich Re responsible for global specialty insurance, while there are challenges in specialty re-insurance, there’s also room for optimism. 

In this podcast, you’ll hear:

• The value of expertise, stability and partnerships in the specialty market; 

• What he sees on the horizon for the specialty lines; and 

• Where exactly his optimism is coming from.

Fire and smoke events can be one of the more stressful moments for a policyholder. This podcast looks at some key ways to make them whole again.

Fire and smoke incidents create complex challenges and potential delays in the claims process for insurance companies. Bill Gordon, regional business coach at 1-800 WATER DAMAGE, and Tim Singnysane, director of operations at 1-800 WATER DAMAGE, share best practices for improving claims efficiency, identifying hidden damages earlier, and improving customer satisfaction and retention. 

In this podcast, you’ll learn:

• How specialized expertise can prevent claims slowdowns and address hidden damages.

• Best practices for capturing accurate damage information and improving claims efficiency.

• The benefits of partnering with experienced restoration professionals to support customer satisfaction and retention. 

Ken Davis and Bill Gordon of 1-800 WATER DAMAGE, part of BELFOR Franchise Group, explain strategies to optimize water claims efficiency without increasing costs during high-volume events.

Hurricanes, floods, and other water-related events lead to spikes in claims volumes for insurance companies. As carriers work to efficiently manage the ebb and flow of water claims, Ken Davis, claims partnership manager at BELFOR Franchise Group, and Bill Gordon, regional business coach, at 1-800 WATER DAMAGE discuss best practices for improving claims process efficiency.

In this podcast, you’ll learn: 

• Which key areas can be optimized while keeping insureds satisfied, 

• How this helps with policyholder retention, and 

• What can be done about the upcoming generational shift with adjusters.

In today’s environment, global financial mandates are evolving quickly to thwart money laundering activities, and because insurance companies are considered financial institutions, they are subject to comply with the changes.

In this episode with LexisNexis Risk Solutions, Bob McConn, the associate vice president for claims solutions, shares his take on the current situation, as well as strategies carriers can employ to work toward compliance.

You’ll also hear:

• How the U.S. regulatory landscape is shifting toward targeted sanctions against individuals and organizations.
•   Details on the frequency of watchlist updates.
• Why carriers need to monitor their customers throughout the customer life cycle.
• What actions insurers can take to protect themselves and support improved compliance.

If carriers put themselves at risk, the damage can be both financial and reputational. Listen now to learn how your organization can keep current with the changes.

As insurance risk continues to evolve, understanding the use of CBIS has become increasingly important. In this podcast, Gary Sanginario, associate vice president of product management, and Prasanth Kambhatla, associate vice president of data science, both experts at LexisNexis Risk Solutions, take a look at CBIS, including its history and how it continues to benefit both insurers and consumers.

You’ll also hear:

• How CBIS helps predict a consumer’s risk and how insurers leverage it to predict future insurance losses.
• Details about comprehensive studies conducted to address concerns about unfair bias based on race and ethnicity.
• About the testing framework employed by LexisNexis Risk Solutions, how the framework leverages well-established methodologies, and key takeaways from quantitative testing.

Rising premium rates, stricter underwriting, and carriers pulling out of states are creating challenging marketing conditions for independent agents looking to maintain and grow their book of business.

In this podcast, Michael Streit, general manager at Applied Systems’ EZLynx company, discusses the challenges posed by hard insurance markets for independent insurance agencies and the strategies for navigating difficult conditions.

You’ll also hear about:

• The drivers of the current hard market conditions, such as inflationary factors, tighter underwriting, carrier withdrawals from states, and more.
• Which actions independent agents can take to turn hard market challenges into opportunities and capture more renewals and new business.
• How technologies such as retention management tools, customer relationship management systems, automated workflows, and others can help support agents in the current market conditions.