Articles by Andrew G. Simpson

Netflix vs. HBO and the Race to the Insurance Customer

“The goal is to become HBO faster than HBO can become us,” the chief content officer of Netflix said four years ago. In the insurance world, InsureTech Connect Conference founder Caribou Honig thinks traditional insurers and insurtech startups are facing …

Top Insurance Journal National Stories of 2017

It wouldn’t feel right to close out the year without looking back at the most popular stories on Insurance Journal during the past 12 months. Here are the national stories that attracted the most readers in 2017, organized by six …

Language Lessons for Property/Casualty Insurers

InsurTech leaders speaking at the InsureTech Connect Conference in October had a message for traditional insurers they have probably heard before: The language that insurance agents and carriers use is creating a gulf between insurers and customers who struggle with …

Updated: OSHA Rule Requiring Electronic Reporting of Injuries Goes Into Effect

A federal rule requiring certain employers to electronically submit injury and illness reports goes into effect today. The rule applies to businesses in many states with 250 or more employees that are currently required to keep OSHA injury and illness …

Digital Insurer Lemonade Says No License Needed by Adopters of Its API Sales Platform

Digital insurer Lemonade says companies that integrate its insurance sales platform, or API, into their own apps and web sites “generally speaking do not have to be licensed as insurance agents or brokers.” At the same time, the insurer said …

Wells Fargo Closing Down Its Personal Insurance Business

Wells Fargo & Co. announced it is exiting the personal insurance business and will immediately begin winding down its marketing. The company said the exit process should be completed during the first quarter of 2018. Until that time, it will …

State Auto’s Extension of CEO LaRocco’s Contract a Vote of Confidence in Turnaround Strategy

Mike LaRocco, who took over president and CEO of State Automobile Mutual Insurance Co. in May 2015, has won the support of the company’s board of directors for an extension of his contract until Dec. 31, 2021. LaRocco has been …

How Lemonade Is Deciding Who Else May Sell Its Insurance

Digital insurer Lemonade reports that more than 400 businesses applied to sell its insurance within the first 24 hours after it offered to make its sales platform widely available. On October 12, Lemonade announced it launched a public API (application …

Schiavone Takes Over Allianz Global Specialty’s Alternative Risk Team; Coppola to Head Financial Lines

Paul Schiavone has been appointed as global head of Allianz Global Corporate & Specialty’s Alternative Risk Transfer (ART) business, taking over from Bill Guffey who is leaving Allianz for other opportunities after 15 years at the company. Laura Coppola takes …

House Passes Flood Insurance Program Extension with Reforms

The House of Representatives on Tuesday voted 237-189 to pass the 21st Century Flood Reform Act (H.R. 2874) – a package of seven bills that reauthorizes the National Flood Insurance Program (NFIP) until 2022 and introduces various reforms. The fate …