insurance distribution News

Burand’s State of P/C Insurance Industry: How P/C Insurance is Becoming Less Valuable

Value is a relative term often specific to a given asset. For example, if the price of gold declines from $1,800 an ounce to $1,250 an ounce, as it has, then gold is less valuable. The price of property/casualty insurance …

Distribution Overpowers Underwriting. How CNA Ex-CEO Chookaszian Views Industry’s Past, Present and Future

The former chief executive of an insurance company believes the center of value of the property/casualty industry has shifted away from one of the activities that would seem to define an insurance risk-taking enterprise: insurance underwriting. “Today, the core competency …

Experts: Insurance Distribution Future Online and Personalized

The future of insurance distribution was discussed at the CPCU Society’s annual All Industry Day in California on Tuesday. The day-long conference at the Sportsmen’s Lodge in Studio City included panels on the economy, business interruption and cyber liability. During …

How Technology Is Revolutionizing Insurance Distribution: Swiss Re

Technology is changing the way insurers and consumers interact and giving insurers access to considerable data so they can better understand their customers, says Swiss Re in its latest sigma study. The study concludes that technology will not replace all …

AIG Using Science to Define ‘Broker Quality Index,’ Not Following Market: Benmosche

Property/casualty insurance brokers who aren’t diligent about the accounts they’re presenting to American International Group risk being discovered through one of the features of the carrier’s analytical process, AIG’s CEO Bob Benmosche said Friday. Speaking on an earnings conference call …

GEICO Success Highlights Advertising Dollars vs. Agent Commissions Debate

Direct writer GEICO’s success in auto insurance sales is due to spending dollars on effective advertising rather than on agents, according to recent research from analysts at Nomura Equity Research, which notes that GEICO has overtaken Allstate to become the …

How Insurance Distribution Is Changing

Insurance distribution is changing and agents and brokers—retailers and wholesalers—have to define the value they offer and what type of relationships they will have with carriers and customers in the years ahead, according to a leading wholesaler. “[O]ver the last …