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Holborn’s Dan Zitelli, co-head of catastrophe modeling, discusses the evolution of cat modeling with Insurance Business. Check out the full article at the link below! #insurance #reinsurance #catastrophemodeling

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With recent events like Hurricanes Helene and Milton devastating the Southeast U.S., it's clear that operational efficiency in P&C Insurance is no longer just a goal—it's a necessity. While the prospect of short-term disruption and spending may seem daunting, embracing AI and automation can empower insurers to streamline processes and redeploy resources effectively, ultimately strengthening the industry for the long haul. My colleague, Nathan Golia, Senior Analyst on Celent's P&C Insurance team, explores essential digital transformation strategies that insurers should implement to revolutionize their operations: https://lnkd.in/ew72x-Yd #OperationalEfficiency #AI #insurance

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We've learned that Hannover Re is assessing its risk management need in relation to the K-Cessions quota share sidecar for the second year running and we’re told other major reinsurers may also pursue this approach, as companies manage their portfolios and are motivated to retain profitable risks.

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Predictive models and machine learning have long been used for group health #underwriting—but now they’ve been refined to assess group-level claims risk in the stop loss and level-funded markets. Join Dan Becker and Joshua Panfil, FSA at the 2024 Society of Actuaries Health Meeting, June 23–26, to learn how you can use these proven tools to estimate large claims #risk and optimize your business outcomes. #SOAHealth 

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Munich Re expanded its collateralized reinsurance sidecar structures to $650 million in 2024, leveraging retrocession to manage natural catastrophe exposures while growing its P&C reinsurance portfolio. Key initiatives, including partnerships with institutional investors and diverse retrocession instruments, reduced Atlantic hurricane risk and supported growth in a challenging market.

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Munich Re’s collateralised reinsurance sidecar structures grew to $650 million in 2024, as the company elevated its use of retrocession, aligned with its growth in natural catastrophe exposure from its underwriting.

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The Colorado Division of Insurance has released a draft proposed amendment to Regulation 10-1- 1, Governance and Risk Management Framework Requirements for Life Insurers’, Private Passenger Automobile Insurers, and Health Benefit Plan Insurers’ Use of External Consumer Data and Information Sources, Algorithms, and Predictive Models. Full background: https://lnkd.in/eZBbrm3G

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Check out this recent article featuring Munich Re US’ Bonnie L. Guth and Munich Re Specialty’s Kevin Johnson: https://ow.ly/fzlP50UkNaG #MunichReSpecialty #CasualtyInsurance #RiskManagement

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Julia is revolutionizing #insurance #analytics! Learn how actuaries are harnessing its power to streamline workflows and drive better business decisions. https://lnkd.in/epvSNq65 #Julialang #actuary #DataScience

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Did you know that the bulk of ABCD's work actually centers on "C"—counseling? We break down the key steps actuaries need to take when seeking guidance and reveal the most common issues discussed. Don't miss this essential read for insights into how actuaries navigate the counseling process!  #ActuarialReview https://lnkd.in/eCkwwECs

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Rising inflation is reshaping the property insurance landscape in ways we can't ignore. In a recent article for the International Risk Management Institute, Inc. (IRMI), BVA Group's Kurt Huie, ASA shares key insights into how this economic shift is driving up premiums and impacting claims, along with its ripple effects across the broader market. Click here to read the full article: https://lnkd.in/gSPEpnzb  

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Remember when we were told PPACA would increase competition? A new GAO report says otherwise. Since PPACA, the health insurance market has undergone significant changes: • Fewer competitors as smaller insurers exit the market. • Higher premiums and fewer options in consolidated markets. • Stability from larger insurers, but at the cost of reduced competition. With more insurers leaving markets, this trend shows no signs of reversing. For brokers, navigating this condensed landscape means finding innovative ways to serve clients amidst limited options which can bring its own set of risks. What’s your take on this shift? Have you seen a similar concentration in your book of business? Read the full report here: https://lnkd.in/ewrnhNDt

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Clinical expertise is the jelly to actuarial insight’s peanut butter. Medical consultant Kimberly Sapre, rounds out this roundtable discussion at the Society of Actuaries Underwriting Innovations Symposium with critical clinical perspectives. Don’t miss this insightful session that will focus on three recent innovative industry studies.  #underwriting #actuarial #lifeinsurance

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Last week we opened the door to the future of insurance underwriting with the launch of the Sayata Risk Engine. The Sayata Risk Engine harnesses AI to enable carriers and MGAs to significantly broaden carrier appetites while protecting loss ratios. We know these are bold claims. Don’t take our word for it - schedule your own “Proof of Value” test to see how the Sayata Risk Engine can improve your portfolio at www.sayata.ai. Read the latest coverage in Reinsurance News --> https://n9.cl/sayata #AI #Insurtech

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*** Texas Sues GM for Allegedly Collecting Drivers’ Data, Then Selling it to Insurers *** Excerpts from the Insurance Journal article: @general motors ⭐️has been sued by the state of Texas, ⭐️which accused the automaker of installing technology ⭐️on more than 14 million vehicles ⭐️to collect data about drivers, ⭐️which it then sold to insurers and other companies ⭐️without drivers’ consent. Paxton said GM’s data were used to compile “Driving Scores” assessing whether more than 1.8 million Texas drivers had “bad” habits such as ❌speeding, ❌braking too fast, ❌steering too sharply into turns, ❌not using seatbelts and ❌driving late at night. Insurers could then use the data when deciding whether ⭐️to raise premiums, ⭐️cancel policies or ⭐️deny coverage, Paxton said. Paxton said GM’s practice was for dealers to ⭐️subject unwitting consumers ⭐️who had just completed the stressful buying and leasing process ⭐️into believing that enrolling in its OnStar diagnostic products, which collected the data, was mandatory. Paxton said in a statement. “Our investigation revealed that General Motors has engaged in egregious business practices that violated Texans’ privacy and broke the law. We will hold them accountable.” “ #motor #insurance #insurancenews #data #privacy https://lnkd.in/g4SXiqcT

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What if your modeling strategy could deliver deeper insights and greater value? Last week, Josh Meyers, FCAS, Actuarial Data Scientist at AKUR8, teamed up with the Casualty Actuarial Society (CAS) to share how advanced modeling techniques can unlock new possibilities for actuaries. From moving beyond traditional loss modeling to tackling complex challenges, this webinar is packed with actionable insights. 💡 Missed the live session? No problem—it’s now available on demand by clicking the link below! Viewing the webinar requires a CAS membership OR you can register for a free account. Click here to watch 👉 https://lnkd.in/gc-dkPRW #machinelearning #actuaries #predictiveanalytics #insurance #insurtech

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Today's reinsurance market bears little resemblance to that of even five years ago. Natural catastrophe frequency has increased 23% since 2023, alternative capital has grown to $100 billion in the Bermuda market, and traditional analysis methods can no longer keep pace. How can Reinsurance companies deal with this? https://lnkd.in/dV499WPh #reinsurance #businessintelligence

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Pinnacle’s May APEX Webinar, “Governmental Risk Pools: Adding Value to the Public Entity Insurance Market” is now available for registration! Join Senior Consulting Actuary Daniel Linton and Consulting Actuary Nicole McArdle as they provide an overview of the market conditions that drove the formation of governmental risk pools, the challenges they continue to face and discuss how actuaries can serve as a collaborative partner in helping risk pools achieve their goals. Register now! https://lnkd.in/giKgdhHE

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