Panic pricing might bring insurers unexpected results

In a season of unprecedented change and hyperbolic rhetoric, we want to sound a word of caution and suggest the U.S. property/casualty insurance industry think critically about the possible adverse consequences of a headlong rush to impose steep rate increases to cover anticipated loss exposures. While raising rates might be how the industry has responded

Podcast: Bryan Falchuk on the Future of Insurance

Bryan Falchuk offers his views on the opportunities that the insurance industry has to reinvent itself, sharing his experiences and insights and a series of case studies in his new book, titled “The Future of Insurance: From Disruption to Evolution.” Bryan, who is the founder and managing partner of Insurance Evolution Partners, has viewed the

Managing risk in a time of coronavirus

As companies emerge from government mandated COVID-19 shutdowns and begin the process of re-opening, they will have to balance a desire to resume operations with the risk of a liability exposure from customers or employees who get sick and claim the business was to blame. In tomorrow’s fragile economic recovery, such litigation could mean the

How to be a Winner in the New Normal

There is little doubt the world has changed, forever, as a result of COVID-19. In the aftermath of any upheaval that affects society so broadly as this, there will be a shift in behavior as people begin to react and behave based on their perceived reality. What compounds the effect of this particular event is

Podcast: The Human Side of Innovation

Many organizations that are pursuing innovation can overlook what we call the human side of innovation when adopting new processes and goals to grow their company. In a new Innovator’s Edge podcast the principals of IE Advisory—Guy Fraker, Wayne Allen and Paul Winston—discuss what some of these human issues are for insurance incumbents. The conversation

Podcast: What Makes An Effective Innovation Strategy?

Do you have a defined innovation strategy? A surprising number of insurance companies, even those that regard themselves as innovative, do not. In a new Innovator’s Edge podcast the principals of IE Advisory—Guy Fraker, Wayne Allen and Paul Winston—discuss why it is essential to have a defined innovation strategy for communicating and guiding an effective

10 Tips That Your Innovation Program Is Failing

The saying in journalism is that there are no new stories, just new reporters. It seems the same is true of mistakes in innovation programs: There are no new errors, just new companies making them. I say that having spent years watching innovation programs at established companies fail for almost the same reasons, time after

Podcast: A.M. Best Draft Innovation Assessment Preview

As innovation becomes increasingly important to the long-term success and financial strength of insurers, AM Best has released a new Innovation Criteria Procedure detailing how it plans to evaluate a company’s level of innovation, through the assignment of an innovation score. This podcast features a discussion between Matthew Mosher, Executive VP and Chief Operating Officer

Embracing Risk Management as a Driver of Value

We have been telling everyone who would listen for a long time that the future of the insurance industry will be dictated, not by the insurers, but by the clients. We have also been telling you that this reorientation will manifest itself first on the commercial side of things, if for no other reason than

Key decisions on the path to innovation

One of the core attributes, both motivating and binding, team ITL is the shared and unquestionable belief that every insurer has the opportunity and capability to succeed during disruptive shifts by leveraging innovation best practices.  The purpose of this blog is to cover six key areas of decision-making senior executive teams face as they launch,