Industry

Why eastern Canadian quakes may be stronger than you think

Major improvements in Canada’s proposed 2020 seismic hazard model means that there is an increased earthquake hazard all across Canada, including up 50% in some places. “The big change we’ve made in the 2020 model for eastern Canada has really been the ground motion models,” said Michal Kolaj, a seismic analyst with Natural Resources Canada, […]

By Jason Contant | January 27, 2020

3 min read

Are your commercial clients budgeting for a hard market?

As commercial insurance prices increase, you could have customers who literally have not factored new rates into their budgets. “We have an understanding, clearly, that there are risk managers and [chief financial officers] of companies that maybe didn’t budget for the rate that is required,” said Gary Grose, president of Colony Specialty, an excess and […]

By Greg Meckbach | January 24, 2020

2 min read

Data collection itself won’t turn you into Spotify – how using the data might

There will come a time when data-enabled learning, as featured in artificial intelligence, will become a “table stakes” component of P&C insurance products — but collecting mass amounts of consumer data won’t always give your company a competitive advantage. Who benefits from your data-enabled learning – be it individual consumers or large customer networks — […]

By David Gambrill | January 23, 2020

3 min read

The underrated factor pushing down the industry’s profitability

The impact of low interest rates on insurer profitability is something that warrants more discussion, suggests a senior executive with one of the world’s largest reinsurers. “This is something that significantly impacts the profitability of the insurance and reinsurance industry, and I don’t think there has been a full appreciation for how severe that problem […]

By Greg Meckbach | January 22, 2020

2 min read