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03.31.2017

Data Science - When Big Data Isn’t an Option

These days it is impossible to go long without reading somewhere about the promise of “big data” and predictive analytics. Indeed, we live in an age when our personal data is captured and employed by a range of industries to predict behavior, customize product offerings and improve service. In the insurance sector, when we think of “big data,” we typically think of personal lines, conjuring images of vast quantities of personal information on individual insureds, ranging from where we live and what we buy, to how we drive.  What is less well-appreciated is how predictive analytics are transforming the commercial lines industry and how specialty insurers are harnessing these tools to bolster underwriting, pricing and risk evaluation.

CATEGORIES Personal Lines More

03.01.2017

Mergers & Acquisitions Insurance Can Offer Strategic Advantage

Lloyd’s of London has been a leader in the Mergers and Acquisitions insurance market for the past 15 years.  M&A insurance is on the rise as both buyers and sellers increasingly recognize that third-party insurance protection offers a valuable strategic advantage to facilitate complex, domestic or cross-border transactions. Ironshore’s Lloyd’s Pembroke Syndicate 4000, with deep merger and acquisitions expertise, leverages the strength of the Lloyd’s platform to customize programs for a variety of transactional risk exposures in jurisdictions worldwide. 

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02.06.2017

Private Sector Role in National Flood Insurance Program Reform

The National Flood Insurance Program is set to expire September, 30, 2017.  As such, there has been widespread interest from policymakers, insurers and reinsurers for private sector participation to support the future viability of the NFIP.  Private insurance companies are eager to garner a share of the $3.4 billion in premium that the NFIP wrote in 2015. However, they are only interested in writing risks at actuarially sound rates.

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01.25.2017

2017 Reauthorization and Future Viability of the National Flood Insurance Program

Congress created the National Flood Insurance Program in 1968 in response to the rising cost of taxpayer funded disaster relief for flood victims, and also to address the increasing amount of damage caused by flooding. The aim of the program was to reduce the impact of flooding by providing affordable insurance to property owners and by encouraging communities to adopt and enforce flood plan management regulations.

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01.04.2017

Programs Business Outlook For Sustainable Growth

The insurance industry’s programs business continues to deliver value through product innovation.  Today, insurance programs is a $40-$50 billion premium market, driven by pecuniary motivation.  Insurance carriers are partnering with program administrators (PAs) and managing general agents (MGAs) to provide capacity for capturing new business in non-commodity classes of business.  The outlook for sustainable growth through 2017 is positive, as carriers seek profitability in specialty line sectors of the marketplace.

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