Strategic claims segmentation diverges from the traditional ways of managing claims, promoting a more detailed, data-driven approach. Traditional segmentation only considers the monetary value and data points such as the cause of loss and the exposure. Strategic segmentation considers the individual merits of each claim, ensuring more accurate and efficient adjudication, a major priority in … Read more
Car insurance is essential for most drivers, but many myths and misconceptions cloud the industry, leading to confusion. Which cars are safer to insure? Can you get cheaper cars by driving a smaller vehicle? These are just a couple of the common questions drivers ask. Misunderstanding car insurance policies can lead to underinsurance of your … Read more
Nowadays, it seems like seeing headlines about another cyberattack affecting an organization is a daily occurrence. If you’ve seen those headlines and thought, “That will never happen to my business,” you could be risking your company’s future. In fact, a research study in the U.K. found that businesses are 67% more likely to experience a … Read more
Navigating the competitive P&C personal lines market The global P&C personal lines market, which historically saw premium growth at 3%, has risen sharply to more than 15% in the last two years. Despite this premium growth, the expense ratio for most insurers remains in the high-cost range of 20 – 30%. The need for operational … Read more
By Michel Léonard, Ph.D., CBE, Chief Economist and Data Scientist, Triple-I The International Longshoremen’s Association (ILA) went on strike on Tuesday, Oct 1. The strike is expected to affect more than 20 ports along the Eastern Seaboard and Gulf Coast, including the ports of New York and New Jersey, Baltimore and Houston. Focusing specifically … Read more
